Product Market Competition and Upstream Innovation: Evidence from the U.S. Electricity Market Deregulation
研究了美国电力市场放松管制后，下游买方从受管制转向竞争如何影响上游技术供应商的创新，发现净竞争效应使创新下降18.3%，而占有效应使创新上升19.6%，总体创新下降19.3%。
This paper studies the innovation response of upstream technology suppliers when their downstream buyers transition from regulation to competition. By modeling the impact of the 1990s U.S. electricity deregulation on patenting, we find that after deregulation, the net competition effect (comprising the pure competition and the escape competition effect) decreased innovation by 18.3% and the appropriation effect increased innovation by 19.6%. Other deregulation factors have led to a 20.6% decline. In aggregate, after deregulation, innovation by the upstream technology suppliers has declined by 19.3%, and upstream innovation quality and generality have declined as well. © 2013 The President and Fellows of Harvard College and the Massachusetts Institute of Technology.