Professor Thomas Philippon and PhD student Germán Gutiérrez's joint research on competition in US firms is featured
— August 4, 2017
Excerpt from the Financial Post -- "The economists start with two facts. Competition has been declining in many U.S. industries, at least when measured by the number of competitors accounting for a given share of output (which they are quick to concede may not be the very best measure of competition). And investment has been lower than you’d expect, all else equal. In their view, these two trends are linked. Investment and innovation are things companies do when they have to, not when they want to."