Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/333489 
Year of Publication: 
2025
Series/Report no.: 
Discussion Papers No. 25-05
Publisher: 
University of Bern, Department of Economics, Bern
Abstract: 
Uncertainty about the value of a contested innovation induces leaders and laggards to update their expectations in opposite directions. We characterize situations in which firms that have obtained an initial advantage are not the most likely to achieve final success. In spite of amplifying a leader's advantage, greater contest intensity facilitates this effect, challenging the view that laggards require support to remain competitive.
Subjects: 
Innovation contests
learning
competitive balance
leapfrogging
JEL: 
C72
D82
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

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