A proposal for moving from price-centric to innovation-centric competition policy, reviewing theory and evidence on … economic incentives for innovation. Competition policy and antitrust enforcement have traditionally focused on prices rather … than innovation. Economic theory shows the ways that price competition benefits consumers; and courts, antitrust agencies …

of regulation on R&D investment. Nearing competition has a dampening effect on R&D spending, but once the market and … regulatory framework conditions have been established, higher levels of competition positively influence R&D. Our results further … indicate that the relation between competition and innovative investment can be described as inverted U-shaped. Finally, we …