We investigate patterns of vertical governance over the product life-cycle as function of the capability regime properties imitability and substitutability. We use a novel neo-Schumpeterian model to study emerging governance patterns. We find that, in the era of incremental change, firms prefer...

Flexible conservation management, where measures are selected in each decision period and depending on the current state of the ecological system, are generally perceived as superior to fixed management, where the same measure is applied in each decision period independent of the current state...