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effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …
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effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …
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This paper investigates the relationship between product market competition (PMC) and innovation. A Schumpeterian …, competition may also reduce innovation incentives for laggards. This model generates four main predictions which we test … empirically. First, the relationship between product market competition (PMC) and innovation is an inverted U-shape: the escape …
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