• Declining Industrial Disruption

    James Bessen, Erich Denk, Joowon Kim, Cesare Righi

    This paper reports the first recent estimates of trends in the displacement of industry-leading firms. Displacement hazards rose for several decades since 1970 but have declined sharply since 2000. Using a production function-based model to explore the role of investments, acquisitions, and lobbying, we find that investments by dominant firms in intangibles, especially software, are distinctly associated with greater persistence and reduced leapfrogging. Read More →

  • Ethics and AI Startups

    James Bessen, Stephen Michael Impink, Lydia Reichensperger, and Robert Seamans

    Results from TPRI's 2021 AI Ethics survey shed light on how startups approach the uncertain landscape of ethics and Artificial Intelligence. Read More →

  • Patents and Price Fixing by Serial Colluders

    William E. Kovacic, Robert C. Marshall, and Michael J. Meurer

    New research arguing for new policies to address serial collusion in various industries, including guidance to antitrust enforcers about how to better understand and combat serial collusion facilitated by patents. Read More →

  • From Productivity to Firm Growth

    James Bessen and Erich Denk

    New research finding that firm size, productivity dispersion, and large firm investments in intangibles can account for much of the decline in the response to productivity since 2000, and that industry concentration is directly related to aggregate productivity growth. Read More →

  • Firm Differences: Skill Sorting and Software

    James Bessen, Erich Denk, and Chen Meng

    New research explaining the role of proprietary software investment in the rise in skill sorting and wage inequality. Read More →


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