Publications of the Research Unit Economics of Innovation and Industrial Dynamics

  1. Refereed Journal // 2021

    Do Pay-As-Bid Auctions Favor Collusion? Evidence from Germany's market for reserve power

    We analyze a drastic price increase in the German auction market for reserve power that did not appear to be driven by increased costs. Studying the market structure and bidding strategies using micro-level…

  2. ZEW Discussion Paper // 2021

    Subsidies and Innovation in the Recent Financial Crisis

    We analyze the impact of subsidies on R&D expenditures in the financial crisis and beyond. The financial crisis has led to considerable turmoil in financing and, as a result, to restrictions of firms' access to…

  3. M&A Report // 2021

    October/November 2021

    • ZEW-ZEPHYR M&A Index Stabilises as Negative Trend May Come to an End
    • Oil Industry Consolidating at Rapid Pace as Number of M&A Deals Hits All-Time Low
    • Pandemic Slows M&A Announcements in the German Real…