production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are … adapted to be produced using unskilled labor. Our framework highlights a number of novel results. First, standardization is … standardization rate (and of competition). Second, we characterize the growth and welfare maximizing speed of standardization. We show …

We examine how standardization in the information and communication technologies affects the inventive activities of …-contributing firms have 18%-20% less inventive output in the same technological area. This negative effect of standardization in a …