A dominant design is thought to usher in a period of intense competition based on cost, causing an often-fierce industry shakeout. We aim to challenge the foundations of the dominant design literature, and develop new insights about the evolution of competition. We argue that strategic...

Venture capitalists find, fund, and assist high-impact entrepreneurs - individuals whose firms are instruments of Schumpeter's (1939) “creative destruction” and the “creation of new economic spaces” (Acs, 2008). These entrepreneurs form firms characterized by a lack of substantial...

How do we assess new forms of economic organization? As with other innovations, the value of a new organizational form is initially unknown. When assets are traded in financial markets, the information embodied in prices represent one mechanism through which organizational innovations are...

Which is more innovative: the decentralized, diversified corporation or the smaller, more narrowly focused entrepreneurial firm? The economics and finance literatures argue that larger, diversified firms have natural innovation advantages, as their operating units have access to an internal...