"In advanced economies like the United States, innovation has long been recognized as a central force for increasing … socioeconomic prosperity and improving human health. Today, U.S. government policy seeks to promote innovation through a suite of … Business Innovation Research program to the National Science Foundation. This book surveys key dimensions of innovation policy …

state of the literature on the economics of innovation and highlight open policy questions. We first articulate the key … market failures in markets for innovation, and then discuss how both scientific norms and market-oriented policies help … between innovation and inequality …

findings in part explain why innovation prizes lost favour as a technology policy instrument in both the United States and …

. Accordingly, this paper offers an empirical comparison of patents in relation to the award of prizes for technological innovation … unpredictable, and was unrelated to such proxies for the productivity of the innovation as inventive capital or the commercial …

We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This … related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects … innovation and changing external conditions, especially reduced experimentation costs …

Globalization of scientific and technological knowledge has reduced the US share of world scientific activity … plans" to use their new knowledge to produce innovative products or processes …

It concludes by constructing a simple model in which knowledge flows slowly across national borders but moves easily … innovation. After identifying pervasive market failures in innovation, it explains why those associated with the Nordic model may … be particularly conducive to innovation, and demonstrates that, in general, the optimal policies of the leader should …

There is great interest in evaluating the impact of private equity investments on innovation and economic growth …. However, there is no direct empirical evidence on the effects of such transactions on the innovation strategies of … Business Innovation Research (SBIR) program research awards. We find that SBIR firms attracting private equity investments are …

Innovation policy can be a crucial component of governments' responses to crises. Because speed is a paramount … objective, crisis innovation may also require different policy tools than innovation policy in non-crisis times, raising … distinct questions and tradeoffs. In this paper, we survey the U.S. policy response to two crises where innovation was crucial …