Although firms increasingly invest in systems (e.g. ISO, knowledge centres, IT systems) for utilizing stored knowledge and acquiring market information during new product development, few manage to benefit from these investments. To explore this issue, we suggest that firms rely on two distinct...

Although firms increasingly invest in systems (e.g. ISO, knowledge centres, IT systems) for utilizing stored knowledge and acquiring market information during new product development, few manage to benefit from these investments. To explore this issue, we suggest that firms rely on two distinct...

We test whether firms use incompatibility strategically, using data from ATM markets. High ATM fees degrade the value of competitors’ deposit accounts, and can in principle serve as a mechanism for siphoning depositors away from competitors or for creating deposit account differentiation. Our...

We characterize profit-maximizing strategies for a monopolist who sells to risk-averse buyers in two time periods and may deliberately randomize the occurrence of clearance sales. Our theoretical investigation shows that such a randomized strategy is optimal whenever the seller's capacity...