Abstract
In this chapter, we study the anatomy of the product-innovation process. Exactly what is involved in product innovation? What is the cost of the various activities that must be undertaken to develop a new product and introduce it to the market? How long do these activities take? To what extent can the time required to get the product to market be reduced by increasing the cost of the project? These questions are extremely important to economists and others. Yet the truth is that, except for a few areas, we have little or no information bearing on them.
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Notes
A. Yorke Saville, “Mining Machine Industry,” Iron and Coal Trades Review (September 19, 1958).
Also see C. Freeman, “Research and Development in Electronic Capital Goods,” National Institute Economic Review (November 1965).
F. M. Scherer, “Government Research and Development Programs,” in Measuring Benefits of Government Expenditures, ed. by R. Dorfman (Washington, D.C.: The Brookings Institution, 1965).
Merton Peck and F. M. Scherer, The Weapons Acquisition Process (Cambridge: Harvard University Press, 1962).
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© 1971 W. W. Norton & Company, Inc.
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Mansfield, E., Rapoport, J., Schnee, J., Wagner, S., Hamburger, M. (1971). The Anatomy of the Product-Innovation Process: Cost and Time. In: Research and Innovation in the Modern Corporation. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-01639-6_6
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DOI: https://doi.org/10.1007/978-1-349-01639-6_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-01641-9
Online ISBN: 978-1-349-01639-6
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