-run market power, for instance, but ignoring their vulnerability to drastic innovation may yield misleading conclusions … winner-take-all industries. Finally, innovation in dynamically competitive industries often involves enhancing feature sets …

the relation between spatial competition, craft guilds and innovation, and (ii) by showing the calibrated model correctly …

burden mechanism suggests that the nature of innovation is changing, with negative implications for long-run economic growth …

This paper documents a shift in the nature of innovation in the information technology (IT) industry. Using … comprehensive data on all IT patents granted by the USPTO from 1980-2002, we find strong evidence of a change in IT innovation that … is systematic, substantial, and increasingly dependent on software. This change in the nature of IT innovation has had …

We investigate rewards to R&D in a model where substitute ideas for innovation arrive to random recipients at random …

Existing theories and empirical research on how innovation occurs largely assume that innovativeness is an inherent … differently than those who do self-select into innovating. To test these questions, we designed and implemented an innovation …

This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is … reduce innovation incentives for laggards. There are four key predictions. First, the relationship between product market … competition (PMC) and innovation is an inverted U-shape. Second, the equilibrium degree of technological neck-and-neckness' among …

-by-step innovation. Innovations result from costly R&D investments and move technology up one step. Competition is inversely measured by …-and-neck. All these results are consistent with the predictions of step-by-step innovation models …