A Scientific Approach to Innovation Management: Theory and Evidence from Four Field Experiments

Alfonso Gambardella, Arnaldo Camuffo, Danilo Messinese, Elena Novelli, Emilio Paolucci and Chiara Spina

No 15972, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper studies the implications of an approach in which managers and entrepreneurs make decisions under uncertainty by formulating and testing theories such as scientists do. By combining the results of four Randomized Control Trials (RCTs) involving 754 start-ups and small-medium enterprises and 10,730 data points over time, we find that managers and entrepreneurs who adopt this approach terminate more projects, do not experiment with many new ideas, and perform better. We develop a model that explains these results.

Keywords: Scientific entrepreneurship; Management practices; Field experiments; Strategic decision-making; Uncertainty (search for similar items in EconPapers)
JEL-codes: L21 L26 M13 M21 (search for similar items in EconPapers)
Date: 2021-12
New Economics Papers: this item is included in nep-ent, nep-exp, nep-ppm and nep-sbm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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