We obtain the optimal pricing policy of a monopolist marketing successive generations of product advances. We characterize the impact of foresight regarding entry of the second generation product and the technological substitution and market expansion created by the introduction of the second generation product on the optimal pricing policy of the monopolist. We also obtain the optimal pricing ...

Research Summary We study how learning by experience across projects affects an entrepreneur's strategic foresight. In a quantitative of 314 entrepreneurs 722 crowdfunded supplemented with program qualitative interviews, we counterintuitively find that make less accurate predictions as they gain executing projects: miss their predicted timeline to bring product market nearly six additional week...