Since 2010, Google, Apple, Facebook, Amazon, and Microsoft (GAFAM) have acquired more than 400 companies. Competition authorities did not scrutinize most of these transactions and blocked none. This raised concerns that GAFAM acquisitions target potential competitors yet fly under the radar of...

The European Commission is working on a revision of its Guidelines on Research and Development Agreements. On this occasion, this note surveys the existing experimental evidence. Experiments add a number of additional arguments to the normative assessment. R&D agreements have a much smaller...

The present paper analyses the perception of innovation of individuals in Spain and the factors associated with it. Data from 2015 and 2018 about individuals from the Spanish surveys are used. The data include several measures of innovation perception, gender, age, educational level, and other...

The present paper analyses perception of AI of individuals in Spain and the factors associated with it. Data on 6,308 individuals from the Spanish survey (CIS, 2018) are used. The data include several measures of perception, innovation, place of residence (autonomous regions and province),...

The Federal Communications Commission’s Notice of Inquiry in GN 09-157 Fostering Innovation and Investment in the Wireless Communications Market is a significant event at an opportune moment. Wireless communication has already radically changed the way that not only Americans, but people the...

Disruptive innovation, according to business literature, occurs when an innovative product is brought to a market, such as meets the basic requirements of the lower-end of an established value network and also offers added value outside of that value network. That product wins over consumers and...

This paper examines how market competition affects the intensity and breadth of innovation. I assembled a unique dataset comprising all 461 prosecuted collusion cases in the U.S. from 1975-2016, where I match 1,818 collusive firms to firm-level data on innovation. Empirical results from a...

How does a firm’s market power in existing products affect its incentives to innovate? We explore this fundamental question using granular project-level and firm-level data from the pharmaceutical industry, focusing on a particular mechanism through which incumbent firms maintain their market...

There is broad concern that merger policy toward Big Tech has been too lenient. Big Tech typically operates in markets characterized by innovation-driven “competition for the market.” I show that this fact provides a rationale for heightened scrutiny of incumbents' acquisitions of emerging...

In the past 20 years, large digital platforms have made many acquisitions, mainly young and innovative startups. Few of them have been reviewed by competition authorities and little is known on their evolution after acquisition. This paper intends to fill in this gap by looking at the...