the bidding competition for the innovation and by increasing the relative profitability of being the most efficient firm …We show that, in the case when innovations are for sale, increased product market competition, captured by reduced … stricter, but not too strict, merger and cartel policies tend to increase the incentive for innovations for sale by ensuring …

possible reconciliation. It is demonstrated that anticompetitive mergers may reduce competitors' share prices, if the merger …There is diverging empirical evidence on the competitive effects of horizontal mergers: consumer prices (and thus … presumably competitors' profits) often rise while competitors' share prices fall. Our model of endogenous mergers provides a …

reducing bidding competition, thereby also reducing acquisition prices and innovation incentives. …Why do so many high-priced acquisitions of entrepreneurial firms take place in network industries? We develop a theory … more important when there is an increase in network effects. A consequence is higher innovation incentives under an …

innovation. The dataset is complemented with indicators of patent quality (patent renewal, forward citations, and patent family …

effects on the sales price. Moreover, preemptive acquisitions by incumbents are shown to stimulate the process of creative … under bidding competition. …

reducing bidding competition, thereby also reducing acquisition prices and innovation incentives …Why do so many high-priced acquisitions of entrepreneurial firms take place in network industries? We develop a theory … more important when there is an increase in network effects. A consequence is higher innovation incentives under an …

industrial dynamics, articulates the role and function of entrepreneurial experimentation in innovation systems. This paper … develops the concept of ‘entrepreneurial systems of innovation' to address this gap in the literature. We argue that … conceptualized in terms of its function in innovation systems rather than as an outcome. At the systems level, the central function …

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are … preemptive acquisitions by incumbents are shown to stimulate the process of creative destruction by increasing the … find evidence that high-quality inventions are sold under preemptive bidding competition. Asymmetric information problems …

markets, and (vi) human capital for entrepreneurship. The reforms would likely strengthen Europe’s innovation capacity at a …