This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is … competition (PMC) and innovation is an inverted U-shape. Second, the equilibrium degree of technological neck-and-neckness' among … developed in which competition may increase the incremental profit from innovating; on the other hand, competition may also …

may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

about their care and the scope of competition between hospitals. …