Because of the intangible and highly uncertain nature of innovation, investors may have difficulty processing information associated with a firm's innovation search strategy. Due to cognitive and strategic biases, investors are likely to pay more attention to unfamiliar explorative patents...

We synthesize organization learning theory and organizational ecology to predict systematic patterns in the founding and growth of organizations over time. Our central argument is that competition triggers organizational learning, which in turn intensifies competition that again triggers an...

We discuss the creation of organizations and their survival as distinct selection processes, and consider the significance of their divergence. In particular, to understand the implications of entrepreneurial booms, we propose the possibility of asymmetric selection, where entry selection and...