No matter how well resourced, innovation efforts are prone to failure. This paper investigates how the allocation of resources to product innovation projects allows firms to cope with this challenge. We assume…

Trust is an essential ingredient of social life. But trust is not considered an essential ingredient in the models of selfish behavior on which modern economic theory is built. In the present study, we …

In many markets, firms are interlocked by the fact that either firms own shares of each other, or investors own shares of several competitors in the very same market. In this context, partial ownership is the…

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The massive economic crisis 2008/09 had substantial impacts on the innovation activities of the German economy. The loss in sales and profits resulted in a sharp decline of innovation expenditure. While capital…