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9 increases Appendix Beath and Ulph competition policy concerned with losses Discussion Paper dynamic and static dynamic efficiency dynamic loss effect dominates Effect of competition engage in research enter the market equation evaluate excessive number firms enter given number gross social surplus Harberger homogeneous product imitation inappropriate number industrial policy innovation Lambda lengthening patent marginal cost market structure maximisation Monopolistic Competition N-PSR non-product specific research number of firms number of products number of research number of varieties optimal number patent life increases patents lapse perfect substitutes Policy effects policy instrument price towards marginal product differentiation product specific research product varieties R&D rivalry rent-seeking research laboratories Result Saint-Paul social optimum social planner social welfare loss Specific Welfare Loss static and dynamic static loss symmetric equilibrium Theta third strand total welfare loss unlike the homogeneous welfare loss components wrong number zero profit condition