Purpose – The purpose of this paper is to investigate how universities' learning behavior (explorative or exploitative) and network structure (weak or strong inter-organizational ties) can affect their capability to collect and diffuse knowledge, and thus to act as knowledge...

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 develop a general model, with the exponential bandit as a special case, in which high-ability agents are more likely to achieve early success but also learn faster that their project is not promising. These counteracting effects give rise to a signaling model in which the single-crossing...

This paper undertakes a critical review of existing spillover analyses and proposes a unique analytical framework for examining technological spillovers in a manufacturing industry setting. The proposed framework overlaps three different literature strands; cluster and network dynamics,...

This paper analyses a two-player game of strategic experimentation with two-armed bandits.At least one of the arms is risky in the sense that it may not yield a lumpsum payoff. There is payoff externality between the players and they differ in their ability to learn across the risky arm. Either...

In this paper, I examine the effect of introducing heterogeneity between players in a model of strategic experimentation. I consider a two-armed bandit problem in continuous time with one safe arm and a risky arm. There are two players and each has an access to such a bandit. A player using the...

This paper undertakes a critical review of existing spillover analyses and proposes a unique analytical framework for examining technological spillovers in a manufacturing industry setting. The proposed framework overlaps three different literature strands; cluster and network dynamics,...

Technological progress is typically a result of trial-and-error research by competing firms. While some research paths lead to the innovation sought, others result in dead ends. Because firms benefit from their competitors working in the wrong direction, they do not reveal their dead-end...

This paper studies the diffusion of a new technology that is brought to market while its potential is still uncertain. We consider a dynamic game in which an incumbent and a startup firm improve both a new and a rival old technology while learning about the relative potential of both...