This dissertation proposes (1) a theoretical model to explain observed dynamics of product portfolios at the firm and industry levels in a set of high-tech industries, and (2) an empirical test of this theory in the context of the laser printer industry. The theoretical model examines product portfolio decision making in a duopoly, focusing on the rate of new product introduction, old product removal and the attributes of new products. We aggregate these results to the industry-level and study the impact of industry related environmental uncertainty and market opportunities on product portfolio choices through the industry lifecycle.; The empirical model uses survival analysis to test the implications of product portfolio and technology decisions on firm survival in the laser printer industry. We also explore how the effectiveness of portfolio strategy is impacted by the phase of the industry's evolution.
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