The analysis of new product introduction using discrete-choice demand models has focused on successful products (e.g. the minivan) and their welfare impacts. Instead, we apply this approach to unsuccessful products to provide insight into the reasons for their failure. Our case study is the...

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...

We consider innovation contests for the procurement of an innovation under moral hazard and adverse selection. Innovators have private information about their abilities, and choose unobservable effort in order to produce innovations of random quality. Innovation quality is not contractible. We...