We study the relationship between market structure and innovation in the global automobile industry from 1982 to 2004 … using the dynamic industry framework of Ericson and Pakes (1995). Firms optimally choose a continuous level of innovation in … parameter -- the cost of innovation. In terms of the relationship between market structure and innovation, we find that: (1) At …

How global are the gains from innovation? When firms operate production plants in multiple countries, technological …-2008. Our estimates indicate that innovation increases performance at firm locations beyond the innovating site: the median U … operations understate multinationals' gain from innovation, and revealing a spatial disconnect between the costs and potential …

three important phenomena: (1) the globalization of R&D, (2) the growing importance of software and IT to firm innovation … markets. One of the distinguishing features of the R&D globalization phenomenon is its concentration within the software … IT- and software-biased shift in innovation drove US MNCs abroad, and particularly drove them abroad to "new hubs" with …

We interpret recent developments in the field of artificial intelligence (AI) as improvements in prediction technology …. In this paper, we explore the consequences of improved prediction in decision-making. To do so, we adapt existing models … of decision-making under uncertainty to account for the process of determining payoffs. We label this process of …

The globalization of firms is explored at theoretical and empirical levels. The idea is that a global firm is a multi …

internationalization, after growing until the 1970s, has stagnated or decreased somewhat. The level of internationalization of U.S. firms …

We review a recent body of theoretical literature that links the creation and diffusion of knowledge and technology to …). We present models in the literature that extend the EK model of trade to innovation, diffusion, and multinational firms …