Iterative Coordination and Innovation: Prioritizing Value over Novelty

The authors gratefully acknowledge feedback from Shiva Agarwal, Vikas Aggarwal, Daniel Albert, Ethan Bernstein, John Beshears, Afonso Almeida Costa, John Chen, David Clough, Johnathan Cromwell, David Hsu, Laura Huang, Rory McDonald, Cynthia Montgomery, Jan Rivkin, Mike Teodorescu, Stefan Thomke, and seminar participants at Harvard Business School, the 2018 Strategy Science Conference, the 2018 Academy of Management Annual Meeting, and the 2018 Strategic Management Society conference. Special thanks go to Maxwell Bileschi of Google and the many wonderful contributors that made the hackathon field experiment possible: Mark Bouchard, Todd Burner, Megan Krilanovich, Kristen Richards, Frank van Puffelen, and Leah Worbs Lunde. Emily Chen, Jaeho Kim, Andrew Marder, and Miaomiao Zhang provided excellent research assistance. Jeff Strabone provided copyediting support. All opinions expressed herein are those of the authors only, and all errors are the responsibility of the authors.