The modelling of the relationship between innovation and competition through the theory of auction is simplistic. Researchers are re-evaluating previously tenuous assumptions in order to validate these thoughts for empirical use. However, the empirical verifications of this modelling remain...

The existence of R&D spillovers or externalities i.e. the effects of firms' research activities on others firms activities was theoretically established by Arrow 1962a, but few empirical studies have addressed their effects on firm's economic performance ( i.e. productivity growth) and...