Innovation in Space
研究了在完全竞争市场中，企业为何会因土地竞争而进行创新，通过竞标土地时投资创新提升土地价值，并利用美国大都市区数据验证了理论预测。
This paper shows how competition for land may lead firms to optimally innovate in spite of the market being perfectly competitive. When bidding for a location, firms can enhance their bid by investing in innovations that make the land more valuable. Firms are willing to innovate because the non-replicability of land implies that they will not be undercut by some other producer leading to losses as in the standard theory. In the absence of spillovers over space and over time, firms will optimally innovate. Empirical evidence from U.S. metropolitan areas supports the predictions of the theory.