Risk Sharing Agreements for New Medical Treatments

Working Papers

The clinical-trial data used to make approval decisions for medical therapies are collected from a relatively small patient sub-populations. Given small sample sizes, trial data may suggest that treatments are medically or economically nonviable, even though they ultimately may be, or vice versa. Read More

Needless Distraction or Font of Knowledge: Understanding the Relationship between Divestitures and Innovation

Working Papers

Few studies have examined the impact of divestitures on the innovation performance of firms. In particular, little attention has been paid into how the divestiture of firms’ non-core businesses could influence the innovation outcomes of their core businesses. Read More

When Experience Hurts: Proximal vs. Distal Experience and Product Innovation Success​

Working Papers

Most previous research on the learning curve focuses on improvements in manufacturing efficiency; this article instead studies the role of learning in product innovation, a vital component of sustainable competitive advantage in high-tech industries.Read More

The Effect of a Tighter Link to Customers on Product Innovation Strategy

Funded Research Proposal

One of the important consequences of recent technological advances has been that firms and customers are in much closer contact with each other. Using the web and mobile technologies, customers have the ability to send more frequently and more accurately their needs to firms. In this project, we use a simulation approach to understand some of the consequences of these developments.Read More

Decoding the Adaptability-Rigidity Puzzle: Evidence from Pharmaceutical Incumbents’ Pursuit of Gene Therapy and Monoclonal Antibodies

Published Research

The emergence of radical technologies presents a significant challenge to incumbent firms. We study firms’ management of radical technological change by separating their actions into upstream research (“R” of R&D) and downstream development (“D” of R&D).Read More

The Importance of the Raw Idea in Innovation: Testing the Sow’s Ear Hypothesis

Published Research

How important is the original conception of an idea—the “raw” idea— to an innovation’s success? In this article, the authors explore whether raw ideas judged as “better” fare better in the market and also determine the strength of that relationship.Read More

Portfolio Management in New Drug Development

Published Research

The pharmaceutical industry leads all industries in terms of R&D spend. Portfolio management in new drug development is extremely challenging due to long drug development cycles and high probabilities of failure.Read More

The Impact of New Product Introduction on Plant Productivity in the North American Automotive Industry

Published Research

Product launch—an event when a new product debuts for production in a plant—is an important phase in product development. But launches disrupt manufacturing operations, resulting in productivity losses. Using data from North American automotive plants from years 1999–2007, we estimate that a product launch entails an average productivity loss of 12%–15% at the plant level.Read More

Opportunity Spaces in Innovation: Empirical Analysis of Large Samples of Ideas

Published Research

A common approach to innovation, parallel search, is to identify a large number of opportunities and then to select a subset for further development, with just a few coming to fruition. One potential weakness with parallel search is that it permits repetition. The same, or a similar, idea might be generated multiple times.Read More