A start-up engages in an investment portfolio problem by choosing how much to invest in a ''rival'' project, which threatens the position of an existing incumbent, and a "non-rival'' project. Anticipating its acquisition by the incumbent, the start-up strategically distorts its portfolio of...

This paper analyzes the joint design of innovation and competition policy. It focuses on collusion sustainability changes due to implementation of antitrust fines and R&D subsidies in an extension of a model by Miyagiwa (2009). Generic subsidies for R&D are found not to facilitate collusion,...

This paper studies mergers in markets where firms invest in a portfolio of research projects of different profitability and social value. The portfolio nature of the investment problem brings about novel insights on the external effects of firms' investments. The investment of a firm in one...

This paper studies mergers in markets where firms invest in a portfolio of research projects of different profitability and social value. The portfolio nature of the investment problem brings about novel insights on the external effects of firms' investments. The investment of a firm in one...

A start-up engages in an investment portfolio problem by choosing how much to invest in a "rival" project, which threatens the position of an existing incumbent, and a "non-rival" project. Anticipating its acquisition by the incumbent, the start-up strategically distorts its portfolio of...

This paper studies mergers in markets where firms invest in a portfolio of research projects of different profitability and social value. The portfolio nature of the investment problem brings about novel insights on the external effects of firms' investments. The investment of a firm in one...