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We introduce a racing model with multiple product generations, product innovation, spin-outs, and licensing. Industry … conditions and innovation characteristics affect who wins the race and who markets the resulting product. Small firms market …
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This paper analyzes how U.S., Japanese, and European HDD firms responded to technological shifts in the hard disk industry from 1973 through 1996. Leading incumbent U.S. HDD firms were frequently forced out of the market. Leading Japanese incumbent firms in the same industry, however, were not...
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