Constructing New Product Development Portfolios with Internal and External Projects
References
- (1963) Toward an understanding of inequity. J. Abnormal Soc. Psych. 67(5):422–436.Crossref, Google Scholar
- (2007) Real options and resource reallocation processes. Reuer J, Tong T, eds. Real Options Theory (Advances in Strategic Management, Vol. 24) (Emerald Publishing, Bingley, UK), 363–372.Crossref, Google Scholar
- (1993) Selecting product development projects: Pioneering versus incremental innovation strategies. Management Sci. 39(3):255–274.Link, Google Scholar
- (2020) Cheap talk with endogenous conflict of interest. Econometrica 88(6):2663–2695.Crossref, Google Scholar
- (2003) Licensing the market for technology. J. Econom. Behav. Organ. 52(2):277–295.Crossref, Google Scholar
- (2010) The market for technology. Hall B, Rosenberg N, eds. Handbook of the Economics of Innovation (Elsevier, Amsterdam), 641–678.Crossref, Google Scholar
- (2022) Science and the market for technology. Management Sci. 68(10):7176–7201.Link, Google Scholar
- (2024) Valuing pharmaceutical drug innovations, Working paper, Washington University in St. Louis, St. Louis.Google Scholar
- (2003) Long cheap talk. Econometrica 71(6):1619–1660.Crossref, Google Scholar
- (1991) Information acquisition and resource allocation decisions. Accounting Rev. 60(1):120–139.Google Scholar
- (2015) Crowdsourcing in pharma: A strategic framework. Drug Discovery Today 20(7):874–883.Crossref, Google Scholar
- (2009) Effort, revenue, and cost sharing mechanisms for collaborative new product development. Management Sci. 55(7):1152–1169.Link, Google Scholar
- (2011) Managing technology selection and development risk in competitive environments. Production Oper. Management 20(4):541–555.Crossref, Google Scholar
- (2015) A comparison of milestone-based and buyout options contracts for coordinating R&D partnerships. Management Sci. 61(5):963–978.Link, Google Scholar
- (2001) Strategies for managing internal competition. California Management Rev. 44(1):21–38.Crossref, Google Scholar
- (1995) Communication-proof equilibria in cheap-talk games. J. Econom. Theory 65(2):359–382.Crossref, Google Scholar
- (2000) ERC: A theory of equity, reciprocity, and competition. Amer. Econom. Rev. 90(1):166–193.Crossref, Google Scholar
- (1970) Managing the Resource Allocation Process (Harvard Business School Press, Cambridge, MA).Google Scholar
- (2012) Trust and delegation. J. Financial Econom. 103(2):221–234.Crossref, Google Scholar
- (2010) Reporting bias with an audit committee. Accounting Rev. 85(2):447–481.Crossref, Google Scholar
- (2006) In search of complementarity in innovation strategy: Internal R&D and external knowledge acquisition. Management Sci. 52(1):68–82.Link, Google Scholar
- (2010) Comparative cheap talk. Amer. Econom. Rev. 100(5):2361–2382.Crossref, Google Scholar
- (2008) A theoretical framework for managing the new product development portfolio: When and how to use strategic buckets. Management Sci. 54(5):907–921.Link, Google Scholar
- (2009) Revenue driven resource allocation: Funding authority, incentives, and new product development portfolio management. Management Sci. 55(9):1556–1569.Link, Google Scholar
- (2014) Incentives in a stage-gate-process. Production Oper. Management 23(8):1286–1298.Crossref, Google Scholar
- (2008) Selecting cheap-talk equilibria. Econometrica 76(1):117–136.Crossref, Google Scholar
- (1999) How buyers cope with uncertainty when acquiring firms in knowledge-intensive industries: Caveat emptor. Organ. Sci. 10(2):144–161.Link, Google Scholar
- (1989) Innovation and learning: The two faces of R&D. Econom. J. 99(397):569–596.Google Scholar
- (2000) New problems, new solutions: Making portfolio management more effective. Res. Tech. Management 43(2):18–33.Crossref, Google Scholar
- (2001) Portfolio Management for New Products, 2nd ed. (Perseus Books, New York).Google Scholar
- (2008) Milestone payments or royalties? Contract design for R&D licensing. Oper Res. 56(6):1539–1552.Link, Google Scholar
- (2017) Licensing contracts: Control rights, options, and timing. Management Sci. 63(4):1131–1149.Link, Google Scholar
- (2002) Structuring the new product development pipeline. Management Sci. 48(3):343–363.Link, Google Scholar
- (2013) Is pay for performance detrimental to innovation? Management Sci. 59(7):1496–1513.Link, Google Scholar
- (2009) Resource allocation and organizational form. Amer. Econom. J. Microeconom. 2(2):1–33.Google Scholar
- (1991) Game Theory (MIT Press, Cambridge, MA).Google Scholar
- (2022) Resource allocation among competing innovators. Management Sci. 68(8):6059–6074.Link, Google Scholar
- (2012) A principal-agent model of sequential testing. Theoretical Econom. 7(3):425–463.Crossref, Google Scholar
- (2012) Dynamic contracts with moral hazard and adverse selection. Rev. Econom. Stud. 79(1):268–306.Crossref, Google Scholar
- (2007) Valuing R&D projects in a portfolio: Evidence from the pharmaceutical industry. Management Sci. 53(9):1452–1466.Link, Google Scholar
- (2016) Experimentation and project selection: Screening and learning. Game Econom. Behav. 96:145–169.Crossref, Google Scholar
- (2012) Is there complementarity or substitutability between internal and external R&D strategies? Nature Rev. Drug Discovery 41(6):1072–1083.Google Scholar
- (2017) Contracting for new product development. Ha A, Tang C, eds. Handbook of Information Exchange in Supply Chain Management (Springer, Cham, Switzerland), 123–144.Crossref, Google Scholar
- (2011) When are assets complementary? Star scientists, strategic alliances, and innovation in the pharmaceutical industry. Strategic Management J. 32(8):895–909.Crossref, Google Scholar
- (2010) Wyeth Pharmaceuticals: Spurring Scientific Creativity with Metrics (Harvard Business School Publishing, Boston).Google Scholar
- (2011) Principles of early drug discovery. British J. Pharmacology 162(6):1239–1249.Crossref, Google Scholar
- (2018) Communication, incentives, and the execution of a strategic initiative. Management Sci. 64(7):3380–3399.Link, Google Scholar
- (2015) Strategic resource allocation: Top-down, bottom-up, and the value of strategic buckets. Management Sci. 61(2):391–412.Link, Google Scholar
- (2018) Organizational enablers for NPD portfolio selection. IEEE Trans. Engrg. Management 65(1):59–71.Crossref, Google Scholar
- (2010) Marginality and problem-solving effectiveness in broadcast search. Organ. Sci. 21(5):1016–1033.Link, Google Scholar
- (1986) How to license intangible property. Quart. J. Econom. 101(3):567–589.Crossref, Google Scholar
- (2020) A framework for managing innovation. Druehl C, Elmaghraby W, eds. Pushing the Boundaries: Frontiers in Impactful OR/OM Research (INFORMS, Catonsville, MD), 202–228.Link, Google Scholar
- (2020) Biopharma licensing and M&A trends in the 21st-century landscape. J Commerce Biotech. 25(3):37–51.Google Scholar
- (2022) Motivating innovation: Tunnels vs. funnels. Strategy Sci. 7(4):300–316.Link, Google Scholar
- (2014) Resource allocation strategy for innovation portfolio management. Strategic Management J. 35(2):246–268.Crossref, Google Scholar
- (2001) Product development decisions: A review of the literature. Management Sci. 47(1):1–21.Link, Google Scholar
- (1986) Executive effort and selection of risky projects. RAND J Econom. 17(1):77–88.Crossref, Google Scholar
- (2018) Why pharmaceutical scientists in early drug discovery are critical for influencing the design and selection of optimal drug candidates. AAPS PharmSciTech. 19(1):1–10.Crossref, Google Scholar
- (1997) Is no news bad news? Information transmission and the role of “early warning” in the principal-agent model. RAND J Econom. 28(4):641–661.Crossref, Google Scholar
- (2016) Competitive cheap talk. Games Econom Behav. 96:65–89.Crossref, Google Scholar
- (2008) Handbook of New Product Development Management (Routledge, London).Google Scholar
- , (2004) The role of the medicinal chemist in drug discovery—Then and now. Nature Rev. Drug Discovery 3(10):853–862.Crossref, Google Scholar
- (2011) Motivating innovation. J Finance 66(5):1823–1860.Crossref, Google Scholar
- (2023) Rival signals and project selection: Insights from the drug discovery process. Management Sci. 69(9):5298–5315.Link, Google Scholar
- (2011) Commentary: Nash equilibrium and mechanism design. Games Econom. Behav. 71(1):9–11.Crossref, Google Scholar
- (2014) Intelligent M&A: Navigating the Mergers and Acquisitions Minefield, 2nd ed. (John Wiley & Sons, Chichester, UK).Google Scholar
- (2014) The path-dependent nature of R&D search: Implications for (and from) competition. Production Oper. Management 23(8):1450–1461.Crossref, Google Scholar
- (2020) Is diversity (un-)biased? Project selection decisions in executive committees. Manufacturing Service Oper. Management 22(5):906–924.Link, Google Scholar
- (2014) Innovation in the pharmaceutical industry: The process of drug discovery and development. Ding M, Eliashberg J, Stremersch S, eds. Innovation and Marketing in the Pharmaceutical Industry (Springer, New York), 19–81.Crossref, Google Scholar
- (2021) Economies of scope and optimal due diligence in corporate acquisitions. Organ. Sci. 32(4):1100–1119.Link, Google Scholar
- (2017) Do larger mergers increase or decrease the productivity of pharmaceutical R&D? Drug Discovery Today 22(12):1749–1753.Crossref, Google Scholar
- (2018) Strategic alignment of an R&D portfolio by crafting the set of buckets. IEEE Trans. Engrg. Management 67(2):309–321.Crossref, Google Scholar
- (2002) Recognizing, appreciating, and capturing the tacit knowledge of R&D scientists. Drug Development Res. 57(2):51–57.Crossref, Google Scholar
- (2017) Strategic Management of Technological Innovation, 5th ed. (McGraw-Hill, New York).Google Scholar
- (2022) Delegated concept testing in new product development. Oper. Res. 70(5):2732–2748.Link, Google Scholar
- (2015) Resource allocation decisions under imperfect evaluation and organizational dynamics. Management Sci. 61(9):2139–2159.Link, Google Scholar
- (2013) Models for open innovation in the pharmaceutical industry. Drug Discovery Today 18(23–24):1133–1137.Crossref, Google Scholar
- (2022) Open innovation: A paradigm shift in pharma R&D. Drug Discovery Today 27(9):2395–2405.Crossref, Google Scholar
- (2023) Analysis of pharma R&D productivity—A new perspective needed. Drug Discovery Today 28(10):103726.Crossref, Google Scholar
- (2019) The allocation of capital within firms: A review and integration toward a research revival. Acad. Management Ann. 13(1):43–83.Crossref, Google Scholar
- (2004) Technological innovation, product development, and entrepreneurship in Management Science. Management Sci. 50(2):133–144.Link, Google Scholar
- (1998) How SmithKline Beecham makes better resource-allocation decisions. Harvard Bus. Rev. 76(2):45–53.Google Scholar
- (2008) Effects of mergers and acquisitions on drug discovery: Perspective from a case study of a Japanese pharmaceutical company. Drug Discovery Today 13(1–2):86–93.Crossref, Google Scholar
- (2022) Managing innovation portfolios: From project selection to portfolio design. Production Oper. Management 31(12):4572–4588.Crossref, Google Scholar
- (2021) Turning the tables in research and development licensing contracts. Management Sci. 67(9):5838–5856.Link, Google Scholar
- (2010) Information acquisition and under-diversification. Rev. Econom. Stud. 77(2):779–805.Crossref, Google Scholar
- (2014) Leveraging external sources of innovation: A review of research on open innovation. J. Production Innovative Management 31(4):814–831.Crossref, Google Scholar
- (1992) Revolutionizing Product Development: Quantum Leaps in Speed, Efficiency, and Quality (Simon and Schuster, New York).Google Scholar
- (2014) The effect of competition on R&D portfolio investments. Production Oper. Management 23(8):1439–1449.Crossref, Google Scholar

