measure of innovation alternative to patent count. Unlike the impact on patent count, we do not find that VC investment … impact on patent count at industry level, and this impact is larger than that of R&D expenditures. We confirm that this … and material. Therefore, our finding suggests that, at industry level, VC investment increases the patent propensity but …

We develop a theory of innovation for entry and sale into oligopoly, and show that an invention of higher quality is …

do not, in the case of indirect network effects, make standardization more likely, but (ii) indirect network effects are … associated with excessive standardization. We show in Clements’ framework that neither of these results are correct …: standardization is more likely as the number of software firms increases and when the type of market equilibrium is unique— there are …

law matures. Contract standardization avoids this cost, statically improving enforcement; but it crowds out innovative …

standardization, that is, left alone the market may fail to achieve standardization when it is socially desirable and (2) even if the …

application to innovation, in an environment where an innovator (the host) repeatedly faces the same imitators (parasites), we … show that investment can take place even without patent protection, as parasites limit their imitation to preserve the …

behaviour is introduced. The innovation activity in the R&D sector involves knowledge externalities among skilled workers. Our … dispersion to agglomeration, innovation follows a much faster pace. As a consequence, even those who stay put in the periphery …