Innovation and competition: The role of the product market

被引：57
|
作者：
Marshall, Guillermo [1 ]
Parra, Alvaro [2 ]
机构：
[1] Univ Illinois, Dept Econ, 214 David Kinley Hall,1407 W Gregory St, Urbana, IL 61801 USA
[2] Univ British Columbia, Sauder Sch Business, 2053 Main Mall, Vancouver, BC V6T 1Z2, Canada
来源：
INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION | 2019年 / 65卷
关键词：
Sequential innovation; Product market competition; Dynamic oligopoly; Competition policy; Merger review; RESEARCH-AND-DEVELOPMENT; INDUSTRIAL-STRUCTURE; MERGERS; MODEL; ANTITRUST; GROWTH; POLICY;
D O I：
10.1016/j.ijindorg.2019.04.001
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We study how competition impacts innovation (and welfare) when firms compete both in the product market and in innovation development. This relationship is complex and may lead to scenarios in which a lessening of competition increases R&D and consumer welfare in the long run. We provide conditions for when competition increases or decreases industry innovation and welfare. These conditions are based on properties of the product market payoffs. Implications for applied work and policy are discussed. (C) 2019 The Author(s). Published by Elsevier B.V.
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页码：221 / 247
页数：27
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