2 papers
econ.GN2025
Startup Acquisitions: Acquihires and Talent Hoarding
Jean-Michel Benkert, Igor Letina, Shuo Liu
We study how competitive forces may drive firms to inefficiently acquire startup talent. In our model, two rival firms have the capacity to acquire and integrate a startup operatin…
econ.GN2025
Never-ending Search for Innovation
Jean-Michel Benkert, Igor Letina
We provide a model of investment in innovation that is dynamic, features multiple heterogeneous research projects of which only one potentially leads to success, and in each period…