Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Structuring U.S. Innovation Policy: Creating A White House Office Of Innovation Policy, Stuart M. Benjamin, Arti K. Rai
Structuring U.S. Innovation Policy: Creating A White House Office Of Innovation Policy, Stuart M. Benjamin, Arti K. Rai
Faculty Scholarship
This article begins with a discussion of innovation’s importance to the future well-being of American society. The authors then discuss limitations of the current federal framework for making innovation policy. Specifically, the relative absence of innovation from the agenda of Congress and many relevant federal agencies manifests the confluence of two regulatory challenges: first, the tendency of political actors to focus on short-term goals and consequences; and second, political actors’ reluctance to threaten powerful incumbent actors. Courts, meanwhile, lack sufficient expertise and the ability to conduct the type of forward-looking policy planning that should be a hallmark of innovation policy. …
Churn, Baby, Churn: Strategic Dynamics Among Dominant And Fringe Firms In A Segmented Industry, John M. De Figueiredo, Brian S. Silverman
Churn, Baby, Churn: Strategic Dynamics Among Dominant And Fringe Firms In A Segmented Industry, John M. De Figueiredo, Brian S. Silverman
Faculty Scholarship
This paper integrates and extends the literatures on industry evolution and dominant firms to develop a dynamic theory of dominant and fringe competitive interaction in a segmented industry. It argues that a dominant firm, seeing contraction of growth in its current segment(s), enters new segments in which it can exploit its technological strengths, but that are sufficiently distant to avoid cannibalization. The dominant firm acts as a low-cost Stackelberg leader, driving down prices and triggering a sales takeoff in the new segment. We identify a “churn” effect associated with dominant firm entry: fringe firms that precede the dominant firm into …