Biology

Macroeconomics

Technological change

Economics

Microeconomics

Market power

Ecology

Productivity

Monopoly

Industrial organization

Competition (biology)

Journal of Industrial Economics

Is there any evidence that innovation and technological progress are constrained by competition and fostered by monopoly power? Our results, based on a constructed dataset of U . S . manufacturing industries observed over more than two decades, suggest that this is not the case. On the contrary, using both patent statistics and productivity growth as alternative measures of innovation and technological change, we observe faster technological advances in more competitive markets. These results are robust to changes in the econometric techniques used to model nonlinearity in the competition‐innovation relationship and to alternative methods of computing market power.

Competition &amp; Innovation: Evidence from <scp>U</scp>.<scp>S</scp>. Patent and Productivity Data

Competition & Innovation: Evidence from U.S. Patent and Productivity Data