Related papers: Never-ending Search for Innovation
Innovation and its complement exnovation describe the progression of realized possibilities from the past to the future, and the process depends on the structure of the underlying graph. For example, the phylogenetic tree represents the…
Analogies have been central to creative problem-solving throughout the history of science and technology. As the number of scientific papers continues to increase exponentially, there is a growing opportunity for finding diverse solutions…
We provide easily verifiable conditions for the well-posedness of the optimal investment problem for a behavioral investor in an incomplete discrete-time multiperiod financial market model, for the first time in the literature. Under two…
Progress in science and technology is punctuated by disruptive innovation and breakthroughs. Researchers have characterized these disruptions to explore the factors that spark such innovations and to assess their long-term trends. However,…
Scientific software projects evolve rapidly in their initial development phase, yet at the end of a funding period, the completion of a research project, thesis, or publication, further engagement in the project may slow down or cease…
Sustainability initiatives are set to benefit greatly from the growing involvement of venture capital, in the same way that other technological endeavours have been enabled and accelerated in the post-war period. With the spoils…
The design of multiple experiments is commonly undertaken via suboptimal strategies, such as batch (open-loop) design that omits feedback or greedy (myopic) design that does not account for future effects. This paper introduces new…
In this paper, we develop a new method for finding an optimal biddingstrategy in sequential auctions, using a dynamic programming technique. Theexisting method assumes that the utility of a user is represented in anadditive form. Thus, the…
We study a model of dynamic two-stage R&D competition where the competing firms are uncertain about the difficulty of the first stage. Staying in the competition is costly and a firm can also choose whether and when to quit. When a firm…
For ambiguous queries, conventional retrieval systems are bound by two conflicting goals. On the one hand, they should diversify and strive to present results for as many query intents as possible. On the other hand, they should provide…
Many approaches to program synthesis perform a combinatorial search within a large space of programs to find one that satisfies a given specification. To tame the search space blowup, previous works introduced probabilistic and neural…
Considering collaborative patent development, we provide micro-level evidence for innovation through exchanges of differentiated knowledge. Knowledge embodied in a patent is proxied by word pairs appearing in its abstract, while novelty is…
Pursuing a scientific idea is often justified by the promise associated with it. Philosophers of science have proposed a variety of approaches to such promise, including more specific indicators. Economic models in particular emphasise the…
Consider a decision maker who is responsible to dynamically collect observations so as to enhance his information about an underlying phenomena of interest in a speedy manner while accounting for the penalty of wrong declaration. Due to the…
The exponentially growing number of scientific papers stimulates a discussion on the interplay between quantity and quality in science. In particular, one may wonder which publication strategy may offer more chances of success: publishing…
When you have a question, the most effective way to have the question answered is to directly connect with experts on the topic and have a conversation with them. Prior to the invention of writing, this was the only way. Although effective,…
A principal contracts with an agent who sequentially searches over projects to generate a prize. The principal initially knows only one of the agent's available projects and evaluates a contract by its worst-case performance. We…
We study a practical optimization problems for venture capital investments and/or Research and Development (R&D) investments. The first problem is that, given the amount of the initial investment and the reward function at the initial…
Even in the face of deteriorating and highly volatile demand, firms often invest in, rather than discard, aging technologies. In order to study this phenomenon, we model the firm's profit stream as a Brownian motion with negative drift. At…
The scientific method relies on the iterated processes of inference and inquiry. The inference phase consists of selecting the most probable models based on the available data; whereas the inquiry phase consists of using what is known about…