Crop farmers have few short-run options for reducing downside production risk from changes in drought frequency and intensity due to ongoing climate change. However, one recently available option is drought-tolerant (DT) varieties. We determine how recent drought exposure, drought risk, and...

Purpose – The purpose of this paper is to examine how and why outsiders, rather than incumbents, are able to take advantage of technological discontinuities. Design/methodology/approach – The paper employs a case study of a single innovation that transformed the technology of Formula 1 motor...