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Product market competition policy and technological performance

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Author Info

  • Stephen Martin

    (Institute of Economics, University of Copenhagen)

Abstract

Stricter competition policy reduces expected payoffs before and after innovation, but reduces pre-innovation payoffs relatively more than post-innovation payoffs, and therefore increases the equilibrium level of R&D activity: tough product-market competition policy stimulates innovation. There is an inverted-U relationship between competition policy and expected welfare. The model also permits analysis of the effect of R&D spillovers and of alternative R&D cooperation regimes on expected welfare, on R&D efforts, and on the expected time to discovery of a cost-saving innovation.

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File URL: http://www.econ.ku.dk/cie/dp/dp_1997-1999/1998-01.pdf/
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Bibliographic Info

Paper provided by University of Copenhagen. Department of Economics. Centre for Industrial Economics in its series CIE Discussion Papers with number 1998-01.

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Length: 33 pages
Date of creation: Feb 1998
Date of revision:
Publication status: Published in: George Norman, Jacques-François Thisse (eds.). Market Structure and Competition Policy: Game-Theoretic Approaches. Cambridge University Press, 2000, pp 161-190
Handle: RePEc:kud:kuieci:1998-01

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Related research

Keywords: antitrust; innovation;

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References

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  1. Martin, Stephen, 1996. "R & D joint ventures and tacit product market collusion," European Journal of Political Economy, Elsevier, vol. 11(4), pages 733-741, April.
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Cited by:
  1. Stephen Martin, 2000. "Competition Policy for High Technology Industries," Tinbergen Institute Discussion Papers 00-010/2, Tinbergen Institute.
  2. Stephen Martin & John T. Scott, 1999. "The Nature of Innovation Market Failure and the Design of Public Support for Private Innovation," CIE Discussion Papers 1999-02, University of Copenhagen. Department of Economics. Centre for Industrial Economics.

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