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Numerous laboratory studies report on behaviors inconsistent with rational economic models. How much do these inconsistencies matter in natural settings, when consumers make large, real decisions and have the opportunity to learn from experiences? We report on a field experiment designed to...
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the innovating firm invests in marketing, so that consumers become aware of the newly developed product. Firms first … theoretical model are that both the marketing of a product innovation and a firm's propensity to introduce an innovation decrease … a positive effect on product innovation and marketing effort. These findings are tested empirically using survey data …
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