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Our study concentrates on the dynamic research and development (R&D) process in the pharmaceutical industry, which is characterized by high uncertainty and a low probability of success in passing research phases. We evaluate whether R&D cooperations are appropriate instruments to help firms counter various types of uncertainty in different R&D markets and across the drug development process...
Commercializing an emerging technology that employs an immature production process can be challenging, particularly when there are many different sources of uncertainty. In industries with stringent safety requirements, regulatory interventions that ensure safety while maintaining incentives for innovation can be particularly elusive. We use the extreme case of metal additive manufacturing (an emerging...
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