framework with multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in external R&D to acquire new … product lines and in internal R&D to improve their existing product lines. A baseline model derives the theoretical …

framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to … acquire new product lines and exploitation R&D to improve their existing product lines. We model and show empirically that …

acquire new product lines and exploitation R&D to improve their existing product lines. We model and show empirically that …

framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to … acquire new product lines and exploitation R&D to improve their existing product lines. We model and show empirically that …

We build a tractable growth model where multi-product incumbents invest in internal innovations to improve their … existing products, while new entrants and incumbents invest in external innovations to acquire new product lines. External and …

where multi-product firms do two types of innovation subject to friction in technology spillovers. Firms improve their … existing products through internal innovation while entering others' product markets through external innovation. We introduce … process of external innovation. In contrast to existing models, this friction allows incumbent firms to defend themselves from …