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 …

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 …

evolution of innovation across time and space and its effect on productivity. We document a substantial rise of international … estimate the causal effect of innovation induced by international spillovers on sectoral output per worker and total factor …

technological lead spawn more successful spinouts. Building on these observations, I build a structural model of innovation and firm … dynamics, where firm heterogeneity arises from endogenous decisions of innovation workers to become entrepreneurs and create … affecting employee entrepreneurship for aggregate innovation and growth. …

increases wage inequality but leads to greater production in developing countries. I study a Brazilian innovation program that … taxed the leasing of international technology to subsidize national innovation. I show that the program led firms to replace …