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The Costs of Industrial Product Innovations

Author

Listed:
  • Edwin Mansfield

    (Professor of Economics at the Wharton School, University of Pennsylvania)

  • John Rapoport

    (Associate Professor of Economics at Mount Holyoke College)

Abstract

To help shed new light on the factors associated with the large differences among innovations in the percent of innovation costs devoted to R and D, detailed data were obtained concerning a sample of chemical innovations. A simple econometric model was used to test a number of tentative hypotheses advanced to help explain these differences. The model can explain about half of the observed variation.

Suggested Citation

  • Edwin Mansfield & John Rapoport, 1975. "The Costs of Industrial Product Innovations," Management Science, INFORMS, vol. 21(12), pages 1380-1386, August.
    • Handle: RePEc:inm:ormnsc:v:21:y:1975:i:12:p:1380-1386
    DOI: 10.1287/mnsc.21.12.1380
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    Cited by:

    1. Guenther, Miriam & Guenther, Peter, 2021. "The complex firm financial effects of customer satisfaction improvements," International Journal of Research in Marketing, Elsevier, vol. 38(3), pages 639-662.
    2. Stephane Lhuillery & Julio Raffo & Intan Hamdan-Livramento, 2016. "Measuring creativity: Learning from innovation measurement," WIPO Economic Research Working Papers 31, World Intellectual Property Organization - Economics and Statistics Division.

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