Research Diversity and Invention

John Scott

Review of Industrial Organization, 2023, vol. 62, issue 2, No 4, 179-197

Abstract: Abstract This paper explains that when there is great uncertainty about which elements of knowledge must be combined to make an invention, the likelihood of invention increases markedly—by many orders of magnitude—when there are numerous diverse research organizations, rather than just a few. The paper examines the possibility that competition (antitrust) policy toward mergers would be improved if enforcement efforts placed more emphasis on protecting the diversity that is provided by numerous research rivals in a market.

Keywords: Antitrust; Competition policy; Diversity; Innovation policy; Invention (search for similar items in EconPapers)
JEL-codes: K21 L40 L41 O31 O32 O33 O34 O38 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s11151-022-09891-w

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