We introduce a racing model with multiple product generations, product innovation, spin-outs, and licensing. Industry … conditions and innovation characteristics affect who wins the race and who markets the resulting product. Small firms market …

date, have largely concluded that patent pools have been associated with reduced rates of technical innovation in the … of innovation in product markets, rather than on indirect correlates of innovation (like patents), and by exploiting … product markets, and the rate of technical innovation in optical disc products. The analysis concludes that different …

How far should an industry be allowed to consolidate when competition and innovation are endogenous? We develop a … between competition and innovation, with heterogeneity across time and productivity. Our counterfactual simulations suggest …