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I study an economy where oligopolistic firms establish in-house R&D programs to produce a continuous flow of cost-reducing (incremental) innovations. The scale of firms' R&D operations determines the rate of productivity growth. I first study the role of concentration, firm size, and demand,...
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This article improves Clayton Christensen's widely cited theory of innovation and applies it to explain recent … products with multiple quality attributes and markets that have a 'demand pull' for innovation. We then demonstrate that … military leaders have misdiagnosed the current wave of innovation by casually claiming that it is disruptive. These …
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government contracts, defense-industry consultant James Hasik argues in Arms and Innovation that small firms have a number of … demonstrated, Hasik shows, by such innovation in military technologies as those that protect troops from roadside bombs in Iraq and …
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