Until now, car ownership has been a symbol of wealth and personal freedom. The high value of the car in society has been enforced by the powerful automotive industry with their well-funded marketing budgets. Currently, there are one billion cars worldwide, possibly increasing to 2,8 billion by...

Using data from the US automobile market, we empirically examine the link between competition and innovation. Consistent with a large literature, we use patent counts as a measure of innovation. The combination of the US market's economic importance, market dynamics, and the significant...