Tournaments are widely used in the economy to organize production and innovation. We study individual data on 2 …

Past work has shown that failure tolerance by principals has the potential to stimulate innovation, but has not … ― in terms of an investor's required share of equity ― that increases in the level of radical innovation. Financiers with … tolerant. Since policies to stimulate innovation must often be set before specific investments in innovative projects are made …

Innovation traditionally takes place within an organization's boundaries and with selected partners. This Chandlerian …, and communication costs have been an important constraint on innovation and a reason why innovation takes place inside the … user innovation. We suggest that when information constraints drop dramatically, and the locus of innovation shifts to the …

themselves against litigation. We find that NPE litigation has a real negative impact on innovation at targeted firms: firms … markers of significant NPE pass-through to end innovators, nor of a positive impact of NPEs on innovation in the industries in …

Most of society's innovation systems -- academic science, the patent system, open source, etc. -- are “open” in the … sense that they are designed to facilitate knowledge disclosure among innovators. An essential difference across innovation … evidence that links intermediate versus final disclosure not just with quantitative tradeoffs that shape the rate of innovation …