We develop an experimental setting where the assumptions and predictions of the garbage can model can be tested. A careful reconstruction of the original simulation model enables us to select parameters that leave room for potential variations in individual behavior. Our experimental design...

This article examines what Joseph Schumpeter said on the emergence of novelty in economic institutions, what Sidney Winter did to build on and deviate from that foundation, and what puzzles remain. Winter built a framework for answers to a puzzle that Schumpeter could not solve-how novelty...

Imitation is ubiquitous, yet the comparative efficacy of imitation strategies is poorly understood. A popular imitation strategy, sometimes called benchmarking, “mixes-and-matches” the practices common to leading firms. Using computational models, we compare benchmarking to the...