Harold Demsetz once claimed that 'economics has no antitrust relevant theory of competition.' Demsetz offered this …-dimensional nature of competition. Competition does not take place upon a single margin, such as price competition, but several … dimensions that are often inversely correlated such that a liability rule deterring one form of competition will result in more …

I study the relationship between competition and innovation, focusing on the distinction between product and process … competition and innovation, which focused on process innovations. New products allow firms to differentiate themselves from one … another. I demonstrate that the competition level that creates the most innovation incentive is higher for process innovation …