An Empirical Exploration of a Technology Race
实证检验磁盘驱动器行业的技术竞赛行为，发现追赶者比领先者更倾向于创新，符合Reinganum的理论预测。
An extensive theoretical literature examines technological competition, and in particular whether leaders maintain their standing. These models, however, have received little empirical support. I examine innovation in the disk drive industry, an environment particularly conducive to identifying racing behavior. Strategic variables prove significant in explaining the decision to innovate. The patterns are in accord with Reinganum's work: firms that trail the leader innovate more. I add controls for technological opportunity, financing constraints, and firm turnover. When firms manufacture drives for internal use or there are many entrants, and strategic interactions may be less important, the effects are less pronounced.