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The road not taken: Competition and the R&D portfolio
Letina, Igor - 2014
Contrary to most of the literature, which focuses only on the level of investment in innovation, this paper examines …
Persistent link: https://www.econbiz.de/10011282467
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The road not taken: Competition and the R&D portfolio
Letina, Igor - 2013
literature, which focuses only on the level of investment in innovation, this model captures both the variety of research …
Persistent link: https://www.econbiz.de/10010316823
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The road not taken: Competition and the R&D portfolio
Letina, Igor - 2015
This article examines the effects of market structure on the variety of research projects undertaken and the amount of duplication of research. A characterization of the equilibrium market portfolio of R&D projects and the socially optimal portfolio is provided. It is shown that a merger...
Persistent link: https://www.econbiz.de/10011663162
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Multiproduct mergers and the product mix in domestic and foreign markets
Chan, Jackie M. L.; Irlacher, Michael; Koch, Michael - 2022
This paper investigates the effects of mergers on the product mix of multiproduct firms. Thus, we open the black box of post-merger efficiency improvements to reveal a new margin of adjustment along the product dimension. We analyze horizontal mergers in a theoretical model where oligopolistic...
Persistent link: https://www.econbiz.de/10014278534
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The relation between competition and innovation: Why is it such a mess?
Schmutzler, Armin - 2010
Using a general two-stage framework, this paper gives sufficient conditions for increasing competition to have negative or positive effects on R&D-investment, respectively. Both possibilities arise in plausible situations, even if one uses relatively narrow definitions of increasing competition....
Persistent link: https://www.econbiz.de/10010315513
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Research joint ventures: The role of financial constraints
Brunner, Philipp; Letina, Igor; Schmutzler, Armin - 2022
resources, increase the variety of pursued projects and thereby increase the probability of discovering the innovation. RJVs … improve innovation outcomes when market competition is weak and external financing conditions are bad. An RJV may increase the … innovation probability and nevertheless lower total R&D costs. RJVs that increase innovation tend to be profitable, but …
Persistent link: https://www.econbiz.de/10013285527
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Research joint ventures: The role of financial constraints
Brunner, Philipp; Letina, Igor; Schmutzler, Armin - 2023
resources, increase the variety of pursued projects and thereby increase the probability of discovering the innovation. RJVs … improve innovation outcomes when market competition is weak or external financing conditions are bad. An RJV may increase the … innovation probability and nevertheless lower total R&D costs. RJVs that increase innovation also increase consumer surplus and …
Persistent link: https://www.econbiz.de/10014333778
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Competition and innovation: An experimental investigation
Sacco, Dario - 2007
The paper analyzes the effects of competitive intensity on firms' incentives to invest in process innovations through an experiment based on two-stage games, where R&D investment choices are followed by product market competition. An increase in the intensity of competition is modeled as an...
Persistent link: https://www.econbiz.de/10010315551
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Competition and innovation: An experimental investigation
Sacco, Dario; Schmutzler, Armin - 2008
The paper analyzes the effects of more intense competition on firms' incentives to invest in process innovations. We carry out experiments based on two-stage games, where R&D investment choices are followed by product market competition. As predicted by theory, an increase in the number of firms...
Persistent link: https://www.econbiz.de/10010315588
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Killer acquisitions and beyond: Policy effects on innovation strategies
Letina, Igor; Schmutzler, Armin; Seibel, Regina - 2021
This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a … foundation for the analysis of acquisition policy. We show that prohibiting acquisitions has a weakly negative innovation effect …
Persistent link: https://www.econbiz.de/10012588494