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...

Support for many Ramp;D and technology policies relies on empirical evidence that Ramp;D quot;spills overquot; between firms. But there are two countervailing Ramp;D spillovers: positive effects from technology spillovers and negative effects from business stealing by product market rivals. We...

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...