We offer a model of experimentation and learning with uncertain outcomes, and show that competition leads to less experimentation, extending results for preemption games to experimentation with uncertain outcomes. We compare experimentation under two information settings: when the researchers...

Our objective is to understand how a firm’s product development capability (PDC) affects the launch strategy for a durable product that is sequentially improved over time in a market where consumers have heterogeneous valuations for quality. We show that the launch strategy of firms is...