It is common in R & D to identify and explore several approaches to a particular objective so that the best approach may be chosen. The outcome of any approach is uncertain; hence, it is difficult to choose the best one at an early date. To deal with this uncertainty, two or more approaches to...

Understanding when entrants might have an advantage over an industry’s incumbent firms in developing and adopting new technologies is a question which several scholars have explained in terms of technological capabilities or organizational dynamics. This paper proposes that the value...