We formalize R&D as a search process for technology improvements across the different scientific domains of a technological landscape. Knowledge generated from past search efforts may disseminate to rival firms. We analyze how the resulting path dependency of knowledge, shapes the direction of...

Project selection decisions are complex because they must consider not only financial returns, project risk, and fit with strategy, but also competitive circumstances. A rival's project development efforts provide two pieces of information: a market rivalry signal, which indicates potentially...

Responding to an information technology (IT) system failure often requires a collaborative approach in which both the client and the vendor need to invest in response capacity. By investing more in response capacity, the client might make the vendor's response capacity more effective in the...

"Beginning in the 1970s, several scientific breakthroughs promised to transform the creation of new medicines. As investors sought to capitalize on these Nobel Prize-winning discoveries, the biotech industry grew to thousands of small companies around the world. Each sought to emulate what the...