We find a U-shaped relation between industry concentration and innovation. The relation is driven by neck …-and-neck industries where firms operate with similar productivity. When industry concentration is low, innovation intensity decreases as … innovation intensity to escape competition. The U-shaped relation is more pronounced in industries where firms compete in …

their innovation activities in response to the potential entry of direct competitors. We then examine a legal ruling that … firms increased their net innovation activities in response to competitive entry. These effects center on firms with … innovation by new entrants after the ruling in response to increased competition. Overall, these results are consistent with …

antitrust intervention was necessary to preserve innovation in technological platforms at the heart of the personal computer … intervention might well have jeopardized the very innovation that antitrust should promote. In this article, we review the role of … platforms in technological innovation and consider how antitrust standards should apply to them. We then examine how Microsoft …

Which kind of intellectual property regime is more favorable to innovation: one that enforces patents or one that does … evidence of our own. We conclude that the evidence suggests that patents do not promote innovation, but instead retard it …