The Direction of Innovation over the Product Life Cycle

Abstract

Papers such as Gort and Klepper (1982) and Utterback and Abernathy (1975) describe the evolution of products from their birth through maturity, termed the product life cycle. Both the number of …rms and the number of patents grows as the product reaches its peak. There is also a clear shift in the composition of innovation. Utterback and Abernathy (1975… (More)

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