Professor Scott Shane is A. Malachi Mixon III Professor of Entrepreneurial Studies at the Weatherhead School of Management, Case Western Reserve University

• Preface ixList of Contributors xiEditor’s Introduction xvPart I The Evolution of Technology, Markets, and Industry 11 Technology and Industry Evolution 3Rajshree Agarwal and Mary Tripsas2 The Evolution of Markets: Innovation Adoption, Diffusion, Market Growth, New Product Entry, and Competitor Responses 57Venkatesh ShankarPart II The Development and Introduction of New Products 1133 Understanding Customer Needs 115Barry L. Bayus4 Product Development as a Problem-solving Process 143Christian Terwiesch5 Managing the ‘Unmanageables’ of Sustained Product Innovation 173Deborah DoughertyPart III The Management and Organization of Innovation 1956 Rival Interpretations of Balancing Exploration and Exploitation: Simultaneous or Sequential? 197Eric L. Chen and Riitta Katila7 R&D Project Selection and Portfolio Management: A Review of the Past, a Description of the Present, and a Sketch of the Future 215D. Brunner, L. Fleming, A. MacCormack, and D. Zinner8 Managing the Innovative Performance of Technical Professionals 239Ralph KatzPart IV Technology Strategy 2659 The Economics and Strategy of Standards and Standardization 267Shane Greenstein and Victor Stango10 Intellectual Property and Innovation 295Rosemarie H. Ziedonis11 Orchestrating Appropriability: Towards an Endogenous View of Capturing Value from Innovation Investments 335Henry Chesbrough12 Individual Collaborations, Strategic Alliances and Innovation: Insights from the Biotechnology Industry 353Paul Almeida, Jan Hohberger, and Pedro ParadaPart V Who Innovates? 36513 Technology-Based Entrepreneurship 367David H. Hsu14 Knowledge Spillover Entrepreneurship and Innovation in Large and Small Firms 389David B. Audretsch15 The Financing of Innovation 409Bronwyn H. Hall16 The Contribution of Public Entities to Innovation and Technological Change 431Maryann P. Feldman and Dieter F. KoglerIndex 461