The paper analyzes the effects of more intense competition on firms' incentives to invest in process innovations. We … carry out experiments for 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 from two to four reduces investments. However, a positive effect is …

levels of ambiguity. We apply our framework to original data from a recent expert elicitation survey on solar technology. The …

this activity is characterized by positive R&D spillovers. We show that R&D spillovers and the competition of firms on the …