Innovation is typically a trial-and-error process. While some research paths lead to the innovation sought, others … that leads to an early abandonment of the risky project. We show that different types of firms follow different innovation …

innovations - innovations that break new ground in terms of knowledge creation. After presenting a motivating model focusing on … the choice between incremental and radical innovation, and on how managers of different ages and human capital are sorted …. Our measures of creative innovations proxy for innovation quality (average number of citations per patent) and creativity …