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How far should an industry be allowed to consolidate when competition and innovation are endogenous? We develop a … between competition and innovation, with heterogeneity across time and productivity. Our counterfactual simulations suggest …
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We assess the usefulness of patent statistics as an indicator of innovation, using a direct measure of innovation in … patent more than specialized startups and smaller firms; and (3) patent reforms seem to make the patent-innovation …
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turnover. Theories predict cannibalization between existing and new products delays incumbents’ innovation, whereas preemptive …% of the incumbent-entrant innovation gap. I then assess hypothetical policy interventions concerning broad patents and …
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