Contrary to most of the literature, which focuses only on the level of investment in innovation, this paper examines …

, competitive pressure in the ensuing innovation race induces firms to launch innovations too early, thereby raising the likelihood … punitive damages instead of mere compensation of harm caused, in order to decelerate such welfare-reducing innovation races …

affect firms' innovation strategy choices, concretely, whether to abstain from innovation, to introduce products that are … known in the market but new to the firm (imitation) or to introduce market novelties (innovation). Using a sample of 1253 … effectiveness is low or medium, both innovation and imitation are enhanced, whereas if it is high, only innovation is enhanced. …

Using a dynamic model of a step-by-step innovation race between financially constrained firms, I study how financial … constraints affect innovation activity. The novel theoretical results derive from an analysis of the interaction between the … incentive effect of competition on innovation and the effect competition has on the degree of credit rationing. I find that the …

The standard innovation race specification assumes a memoryless exponential distribution for the time to success of an … cooperative R&D in terms of innovation effort, consumer surplus, and net social welfare. …

own innovation. The analysis predicts that the willingness to enforce IPR is U-shaped in a country GDP: small … enforcement of IPR yields a higher level of innovation and global welfare only if the developing country does not innovate. A …