This essay studies the optimal timing for a firm to adopt a new process innovation in the presence of learning. A …

dynamics considerably differ between gain and loss domains. For gains, learning to be comparably ambiguity averse increases the …

This paper studies the impact of innovation on the organizational structure. The theoretical framework predicts that a …

-return characteristics of the selected innovation project and the mode of commercialization chosen by entrepreneurs (market entry versus sale …

This paper studies the innovation strategies of multi-product firms in industries with different scope for product … differentiation. In a simple model of multi-product firms, we show that returns to product versus process innovation are industry …-specific. Demand and cost linkages induce a natural distinction between the returns to product and process innovation. In highly …

types of innovation resulting in opposing effects on marginal production costs and prices. In general equilibrium, financial …). Consequently, credit tightening leads to firm exit, increased innovation activity among existing suppliers, and welfare losses that …