We examine innovative contexts like scientific research or technical R&D where agents must search across many potential projects of varying and uncertain returns. Is it better to possess incomplete but accurate data on the value of some projects, or might there be cases where it is better to...

Drawing insights from the field of innovation economics, we discuss the likely competitive environment shaping generative AI advances. Central to our analysis are the concepts of appropriability--whether firms in the industry are able to control the knowledge generated by their innovations--and...

Large Language Models (LLMs) are proving to be a powerful toolkit for management and organizational research. While early work has largely focused on the value of these tools for data processing and replicating survey-based research, the potential of LLMs for theory building is yet to be...