competition and aggregate innovation. We consider a two-stage game with a deterministic Research and Development (R&D) process … outputs simultaneously. We show that the inverted-U relationship between competition and aggregate innovation occurs if … competition is affected by the number of technology followers. However, the presence of more technology leaders decreases …

Although empirical evidence shows that higher product market competition increases unionized wage, the theoretical … literature did not pay much attention to this aspect. We show that the positive relation between product market competition and …

It is usually believed that higher competition, implying more active firms, benefits consumers and encourages the … antitrust authorities to foster competition. We show that this view can be misleading, and higher competition may actually make … of increasing competition through more firms. …

It is generally believed that higher competition benefits consumers, and encourage the antitrust authorities to foster … competition. We show that this view can be misleading in the presence of welfare-maximising nationalised firms. Using a simple … consumers. Our result is important for competition policy. …