This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We apply this theory … to identify the effects of prohibiting start-up acquisitions. We differentiate between killer acquisitions (when the … incumbent does not commercialize the acquired start-up's technology) and acquisitions with commercialization. A restrictive …

parameters, such a strategic distortion may result in an alignment or a misalignment of the direction in which innovation goes … relative to what is socially optimal. Moreover, prohibiting acquisitions may increase or decrease consumer surplus. The more …, the more likely is that consumers benefit (suffer) following an acquisition. These results are robust to acquisitions …

foundation for the analysis of acquisition policy. We show that prohibiting acquisitions has a weakly negative innovation effect …This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a … analyze the effects of less restrictive policies, including merger remedies and the tax treatment of acquisitions and initial …

, prohibiting acquisitions has a weakly negative overall innovation effect. We provide conditions determining the size of the effect …This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a …, including merger remedies and the tax treatment of acquisitions and initial public offerings. Such interventions tend to prevent …

foundation for the analysis of acquisition policy. We show that prohibiting acquisitions has a weakly negative innovation effect …This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a … further analyze the effects of less restrictive policies, including merger remedies and the tax treatment of acquisitions and …

prohibiting killer acquisitions strictly reduces the variety of innovation projects. By contrast, we find that prohibiting other … acquisitions only has a weakly negative innovation effect, and we provide conditions under which the effect is zero. Furthermore …, for both killer and other acquisitions, we identify market conditions under which the innovation effect is small, so that …

that it is beneficial to be a non-merging rival firm to a large horizontal merger. Using a sample of mergers with expert …

Using data from the US automobile market, we empirically examine the link between competition and innovation … interesting market to examine the link between competition and innovation. We use firm-level time-series data over a long horizon …. Consistent with a large literature, we use patent counts as a measure of innovation. The combination of the US market's economic …

of competition law. This raises difficult questions about the relationship between competition and innovation as well as … what kind of assessment concepts competition authorities should use for investigating innovation effects, e.g., in merger … cases. This paper, on one hand, reviews briefly our economic knowledge about competition and innovation, and claims that it …