Herrera, Helios; Schroth, Enrique - Swiss Finance Institute - 2003
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asymmetric information, learning-by-doing.
1 Introduction
1.1 The Motivation
Unlike many innovative products, innovations in … learning-by-doing is an information advantage of the devel-
oper over the imitators. In our framework, the innovator will have … this learning-by-
doing occurs, and illustrate what is the private signal that allows the innova-
tor to have asymmetric …