Learn More
The evaluation process of venture capitalists (VCs) has received much attention in the fields of entrepreneurship and finance, as it gives valuable insights into the criteria that distinguish successful from unsuccessful new firms. The underlying premise of these studies is that VC evaluations are objective, i.e. they predict actual start-up success without(More)
All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission, provided that full credit including © notice is given to the source. Abstract Empirical studies of innovation have found that end users frequently develop important product and process innovations. Defying conventional wisdom on the negative(More)
The " open source development process " has received considerable attention. It means that loosely coordinated , geographically dispersed developers collaborate. While in prototypical open source projects developers are unpaid volunteers, the involvement of commercial firms has recently increased enormously. There are some areas of open source software(More)
This paper discusses the economic merits of direct or indirect governmental support for open source projects. Software markets differ from standard textbook markets in three important respects that may give rise to market failures: (i) large economies of scale, (ii) crucially important innovations, (iii) significant network effects and switching costs. We(More)
The link between firms engaging in open source software (OSS) development and the OSS community is established by individual developers. This linkage might entail a principal-agent issue due to the developer's double allegiance to firm and OSS community, and expose the firm to the risk of losing intellectual property. Using both interviews and a large-scale(More)
for sharing key data and insights. Finally, we would like to thank participants in the NSF Science of Design Workshop, the MITUniversity of Munich Innovation Workshop, and the Conference on Advancing Knowledge and the Knowledge Economy for conversations that contributed to this paper in significant ways. We alone are responsible for errors, oversights, and(More)
Commercial firms increasingly contribute to the development of open source software (OSS). However, a conflict often arises between the requirements of the General Public License to make " derived work " available, and firms' interest to protect their intellectual property embodied in the code. If there are ways to mitigate or solve this conflict, the(More)
In this paper, I explore the circumstances under which innovation processes without secrecy or intellectual property protection are viable, and where free revealing of innovations is a profit-maximizing strategy. Motivated by an empirical study of embedded Linux, I develop a duopoly model of quality competition. Firms require two complementary technologies(More)