Support for R&D subsidies relies on empirical evidence that R&D "spills over" between firms. But firm performance is affected by two countervailing R&D spillovers: positive effects from technology spillovers and negative business stealing effects from R&D by product market rivals. We develop a...

"Reducing emissions of the greenhouse gases that cause climate change will require dramatic changes in the way that energy is produced and consumed. The cost of technological changes such as alternative energy sources and improved energy efficiency will play a large role in determining the...