As of January 2014 the institute will be called "Max Planck Institute for Innovation and Competition". The renaming is due to the establishment of the new economic department of the institute. Prof. Dietmar Harhoff, Ph.D. , has recently founded a new economic department exploring and analyzing the determinants, outcomes and the management of innovation and entrepreneurship processes with empirical and theoretical economic research approaches. In close cooperation with the already existing departments directed by Prof. Dr. Josef Drexl and Prof. Dr. Reto M. Hilty interdisciplinary contributions to research on innovation and competition will be provided.