A common perception in the field of innovation is that large, incumbent firms rarely introduce radical product innovations. Such firms tend to solidify their market positions with relatively incremental innovations. They may even turn away entrepreneurs who come up with radical innovations,...

The authors develop a model to decompose the effects of television advertising for a toll-tree referral service, at the hourly level. The model estimates which ad works, when, in which station, and for how long. Results of the analysis show that ads do stimulate direct response, but their...