aggressive development of a basic innovation by better informed venture-backed firms is used as a signaling device to enhance the … sale price of the innovation. We then show that incumbents can undertake early, preemptive, acquisitions to prevent such … signaling driven overinvestment, despite the risk of buying a non-productive innovation. Therefore, to exist in equilibrium …

, and innovation” and to provide an introduction to the associated special issue. We specifically discuss how various crowd …-related phenomena and practices — for example, crowdsourcing, crowdfunding, user innovation, and peer production — relate to theories of …, and innovation: (1) the functions of sociality (sociality as extension of rationality, sociality as sensing and signaling …

This paper studies the asset pricing implications of technology spillover, an important externality in innovation … variety, such benefits are procyclical, and investors therefore demand higher returns for holding these stocks. Using patent … firms. These findings highlight the importance of innovation externality on stock returns …

This study examines the relationship between the two sides of innovation of research and development (R&D) and … innovation spillovers. In addition, decreasing competition magnifies the spillover effect. The net effect of the total spillover …

Startups are a key driver of innovation but are frequently the target of acquisition by incumbent firms. How does this …

This paper analyses the relationship between past innovation output, competition, and future innovation input in a … results for both countries. Innovation output in t-1 as measured by the sales share of innovative products is positively …&D investments in t 1, while high substitutability exerts negative incentives for future R&D investment …

firms' equilibrium market revenues, we derive numerical solutions of the Markov perfect equilibrium innovation rate of the … important role in evaluating the impact of rising income inequality on R&D; furthermore, the way aggregate innovation responds … income inequality has a negative effect on innovation when the market quality gap is large, in which case, price competition …

This paper analyses the relationship between past innovation output, competition, and future innovation input in a … results for both countries. Innovation output in t-1 as measured by the sales share of innovative products is positively …&D investments in t 1, while high substitutability exerts negative incentives for future R&D investment …

incentive to abstain from expending any effort and instead free-ride on the efforts of other members. Contest theory shows that … relative to the theory. We discuss potential explanations for such over-expenditure, including the utility of winning, bounded … support for the comparative statics predictions of the theory (with the exception of the “group size paradox”). Finally …