This paper uses a large language model to develop an ex-ante measure of the commercial potential of scientific findings. In addition to validating the measure against the typical holdout sample, we validate it externally against 1.) the progression of scientific findings through a major...

This paper investigates the impact of iPhone, a representative of smartphones, on telecommunications carriers and handset manufacturers in U.S.A, Europe, and Japan. We choose the "event study" methodology to evaluate the impact of iPhone emergence. We also look at the financial profit of the...