Related papers: Never-ending Search for Innovation
Organizations use broadcast search to identify new avenues of innovation. Research on innovation contests provides insights on why excellent ideas are created in a broadcast search. However, there is little research on how excellent ideas…
We model search in settings where decision makers know what can be found but not where to find it. A searcher faces a set of choices arranged by an observable attribute. Each period, she either selects a choice and pays a cost to learn…
Is more novel research always desirable? We develop a model in which knowledge shapes society's policies and guides the search for discoveries. Researchers select a question and how intensely to study it. The novelty of a question…
Innovation is to organizations what evolution is to organisms: it is how organisations adapt to changes in the environment and improve. Governments, institutions and firms that innovate are more likely to prosper and stand the test of time;…
Models on innovation, for the most part, do not include a comprehensive and end-to-end view. Most innovation policy attention seems to be focused on the capacity to innovate and on input factors such as R&D investment, scientific…
Motivated by the widespread adoption of iterative project management techniques, we study the effects of workflow -- iterative or sequential -- on innovative behavior and performance. We conduct a series of laboratory experiments. Our first…
Context. Innovation is promoted in companies to help them stay competitive. Four types of innovation are defined: product, process, business, and organizational. Objective. We want to understand the perception of the innovation concept in…
We study a model of irreversible investment for a decision-maker who has the possibility to gradually invest in a project with unknown value. In this setting, we introduce and explore a feature of "learning-by-doing", where the learning…
We envision future technologies through science fiction, strategic planning, or academic research. Yet, our expectations do not always match with what actually unfolds, much like navigating a story where some events align with expectations…
We study the design of optimal incentives in sequential processes. To do so, we consider a basic and fundamental model in which an agent initiates a value-creating sequential process through costly investment with random success. If…
Sequential search models provide a powerful framework for studying consumer search using rich data that records the sequence of consumer actions taken during the search process. In existing empirical applications, their implementation often…
The phenomenon of innovation has been shifting away from focusing on tangible to intangible modernization with its vitalizing context. This shift appears vitally in innovation developed by individual end-users in organizations and…
I argue that the most interesting goal facing researchers in automated reasoning is being able to solve problems that cannot currently be solved by existing tools and methods. This may appear obvious, and is clearly not an original thought,…
How should we invest our available resources to best sustain astronomy's track record of discovery, established over the past few decades? Two strong hints come from (1) our history of astronomical discoveries and (2) literature citation…
We consider an arbitrage-free, discrete time and frictionless market. We prove that an investor maximising the expected utility of her terminal wealth can always find an optimal investment strategy provided that her dissatisfaction of…
Consider a dynamic decision-making scenario where at every stage the investor has to choose between investing in one of two projects or gathering more information. At each stage, the investor may seek counsel from one of several…
The article presents a systematic review of the results of the development of the theoretical basis and the pilot implementation of data storage technology with automatic replenishment of data from sources belonging to different thematic…
Scientific and technological progress is largely driven by firms in many domains, including artificial intelligence and vaccine development. However, we do not know yet whether the success of firms' research activities exhibits dynamic…
A sequential decision-making agent balances between exploring to gain new knowledge about an environment and exploiting current knowledge to maximize immediate reward. For environments studied in the traditional literature, optimal…
A representative researcher has repeated opportunities for empirical research. To process findings, she must impose an "identifying assumption." She conducts research when the assumption is sufficiently plausible (taking into account both…