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Old Is Gold? The Value of Temporal Exploration in the Creation of New Knowledge

Author

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  • Atul Nerkar

    (Graduate School of Business, Columbia University, 721 Uris Hall, 3022 Broadway, New York, New York 10027)

Abstract

In this paper, knowledge creation is considered as a path-dependent evolutionary process that involves recombining knowledge spread over time. The findings of the paper suggest that a balance in combining current knowledge with the knowledge available across large time spans is an important factor that explains the impact of new knowledge. These ideas are empirically tested using patent data from the pharmaceutical industry. Results from the analysis offer support for the hypotheses developed in the paper.

Suggested Citation

  • Atul Nerkar, 2003. "Old Is Gold? The Value of Temporal Exploration in the Creation of New Knowledge," Management Science, INFORMS, vol. 49(2), pages 211-229, February.
    • Handle: RePEc:inm:ormnsc:v:49:y:2003:i:2:p:211-229
    DOI: 10.1287/mnsc.49.2.211.12747
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    References listed on IDEAS

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