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Conventional learning curves relating unit cost to measures of production experience are estimated for 221 specialty chemicals produced by a Fortune 500 company. Detailed records on cost and R...D coupled with insights from company personnel are used to explain the variation across products in...
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Although the prospect of obtaining patent protection is believed to encourage R&D investments and thus the rate of inventive activity, there is little by way of direct evidence to support this belief. We use original data from the 1994 Carnegie Mellon survey on the appropriation of R&D in the US...
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Joglekar, Bohl, and Hamburg (JBH) make two basic sets of criticisms of our paper (Cohen and Levinthal [Cohen, W. M., D. A. Levinthal. 1994. Fortune favors the prepared firm. Management Sci. 40 227--251.]) in their comment. First, they object to two key elements of the model structure: the...
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