Develops a new theory of spinoffs that accounts forthe role of disagreements in the spinoff process. Unlike existing theories, thenew theory can explain the main statistical regularities concerning spinoffs,including why spinoffs often come out of leading firms and why they aresuperior...

This chapter reviews the theoretical and empirical literature on learning by doing. Many of the distinctive theoretical implications of learning by doing have been derived under the assumption that the cost–quantity relationships observed in numerous empirical studies are largely the result of...