"Beginning in the 1970s, several scientific breakthroughs promised to transform the creation of new medicines. As investors sought to capitalize on these Nobel Prize-winning discoveries, the biotech industry grew to thousands of small companies around the world. Each sought to emulate what the...

The new product development (NPD) process has been long conceptualized as an intense information processing task, yet several questions about the role of information in shaping NPD decisions remain open. For instance, the persistent representation of NPD decisions as a single decision-maker...

We formalize R&D as a search process for technology improvements across the different scientific domains of a technological landscape. Knowledge generated from past search efforts may disseminate to rival firms. We analyze how the resulting path dependency of knowledge, shapes the direction of...