New entrants to a market tend to be superior to incumbents in originating radical innovations. We provide a new explanation for this phenomenon, based on markets for technology. It applies in industries where successful entrepreneurial firms, or their technologies, are acquired by incumbents...

n the analysis of value capture, it is central to understand what value each group of players can capture when leaving the negotiation table. Frequently, this will entail engaging in competition, i.e., non-negotiated, strategic interactions with the other players. For instance, if merger talks...

Patent application numbers grow exponentially in many industries, a phenomenon that has been linked to high fragmentation of patent ownership. Contradicting these findings and theoretical arguments, we show that such fragmentation is not a precondition for sudden and strong increases in...