, infrastructure development, and technological innovation. The results reveal that the impact of innovation-related spending on …

This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We show that … 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 …

How do political connections affect firm dynamics, innovation, and creative destruction? To answer this question, we … build a firm dynamics model, where we allow firms to invest in innovation and/or political connection to advance their …

Do higher wages lead to more automation innovation? To answer this question, we first use the frequency of certain … keywords in patent text to create a new measure of automation innovation in machinery. We show that our measure is correlated …-level panel analysis, we find that an increase in low-skill wages leads to more automation innovation with an elasticity between 2 …

This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a … foundation for the analysis of acquisition policy. We show that prohibiting acquisitions has a weakly negative innovation effect …

resources, increase the variety of pursued projects and thereby increase the probability of discovering the innovation. RJVs … improve innovation outcomes when market competition is weak and external financing conditions are bad. An RJV may increase the … innovation probability and nevertheless lower total R&D costs. RJVs that increase innovation tend to be profitable, but …

We study why high-priced acquisitions of entrants by an incumbent do not necessarily stimulate more innovation and …

incentives for market design innovation. The novel tension between private and social innovation incentives is incumbents' rents …