failure tolerance and a sharp guillotine helps explain when and where radical innovation occurs …

Though fundamental to innovation and essential to many industries and occupations, individual creativity has received … for the management of creative workers and for the implementation of competitive procurement mechanisms for innovation …

We study how competition between two downstream firms affects an upstream innovator's innovation strategy, which … includes selecting how much innovation to produce and whether to license this innovation to one (targeted licensing) or both … upstream innovation: at low levels of competition, market-wide licensing is optimal and competition reduces innovation, while …

paper, we address this question by investigating how innovation responses to a substantial policy initiative increasing … product market competition interact with the strength of patent rights. We provide empirical evidence of innovation responding … with step-by-step innovation models predicting that product market competition enhances innovation and, more importantly …

beyond its traditional focus on static efficiency to account for innovation and address dynamic efficiency. Innovation can … fundamentally affect merger analysis in two ways. First, innovation can dramatically affect the relationship between the pre …-merger marketplace and what is likely to happen if a proposed merger is consummated. Thus, innovation can fundamentally influence the …

This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is … reduce innovation incentives for laggards. There are four key predictions. First, the relationship between product market … competition (PMC) and innovation is an inverted U-shape. Second, the equilibrium degree of technological neck-and-neckness' among …

-commoditized" quality salient equilibria. When the cost of producing quality changes, innovation can lead to a radical change in markets. In … the context of financial innovation, the model generates the well documented phenomenon of "reaching for yield" …

-by-step innovation. Innovations result from costly R&D investments and move technology up one step. Competition is inversely measured by …-and-neck. All these results are consistent with the predictions of step-by-step innovation models …