type="main" <p>Management consultants increasingly recommend that internal R&D be outsourced; however, little is known about the substitution or complementarity between internal and external R&D. Through structural estimation of a flexible innovation production function we provide a deeper...</p>

type="main" <p>Increases in alliance activity between research-intensive firms and incumbents is puzzling because it is challenging to contract upon highly uncertain R&D activities. Our paper extends prior research by exploring the relationship between firm capabilities and gains from trading...</p>