Innovation Governance For Value Capture-The Problem and a Proposed Simple Model-based Solution.
Pitelis, Christos N.
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We aim to model the 'optimal' choice on internal vs. external innovation for value capture of different-sized firms, in the context of multilevel bargaining. We find that size differentials are a major determinant for the choice in hand. We derive implications for 'closed' vs. 'open' innovation approaches, and we discuss managerial practice, limitations and possible extensions.