This article investigates whether firms react to a radical technological substitution threat by a deliberate acceleration of innovation in their existing technology - the 'sailing ship effect'. There have been repeated claims that the effect has been significant as a source of innovation...

This article investigates whether firms react to a radical technological substitution threat by a deliberate acceleration of innovation in their existing technology - the "sailing ship effect". There have been repeated claims that the effect has been significant as a source of innovation...