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We view innovation investment as a real option and explore the implications of ambiguity (Knightian uncertainty) and risk for innovation decisions. Our analysis uses a risk measure and a new outcome-independent measure of ambiguity. We find a consistently significant negative effect of ambiguity...
Persistent link: https://www.econbiz.de/10013217074
attitudes. We quantified Dutch arable farmers' risk attitudes based on the cumulative prospect theory (CPT) and used the benefit …
Persistent link: https://www.econbiz.de/10014500732
uncertainty. We designed a multi-period experiment in which each period consisted of two stages, an R&D phase and a pricing stage …. Participants in the experiment had almost no information about the underlying functions, parameters, and probabilities. Subjects …' behavior in the fundamentally uncertain environment of our experiment may best be characterized as some kind of procedural …
Persistent link: https://www.econbiz.de/10010481420
data quality issues for many of our samples. In this article, we review different sampling techniques, including … convenience, purposive, probability-based, and snowball sampling. We highlight strengths and weaknesses of each approach to help … organizational researchers choose the most appropriate sampling techniques for their research questions. We identify best practices …
Persistent link: https://www.econbiz.de/10014261933
Rather than businesses, individual end consumers may develop innovations for themselves. Typically such innovators are not bothered with protecting their innovation-related knowledge, a phenomenon recently coined as ‘free innovation’ (von Hippel, E. (in press), Free Innovation, MIT Press:...
Persistent link: https://www.econbiz.de/10014168471
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We investigate the relationship between CEO risk incentives and the innovation premium (IP) proposed by Forbes. We suggest that compared to traditional proxies of innovation, the IP is a comprehensive measure of a firm’s overall innovation and, therefore can measure innovation in broader...
Persistent link: https://www.econbiz.de/10013491557