We analyze social learning and innovation in an overlapping generations model in which available technologies have … path of a Brownian motion with drift. Marginal innovation consists in choosing a technology within the convex hull of … policies already explored and entails no direct cost. Radical innovation consists in experimenting beyond the frontier of that …

We study social learning and innovation in an overlapping generations model, emphasizing the trade-off between marginal … innovation (combining existing technologies) and radical innovation (breaking new ground). We characterize both short-term and … long-term dynamics of innovation, and the intergenerational accumulation of knowledge. Innovation cycles emerge …

of invention, innovation (commercialization) and imitation. We show why there is a rationale for the Schumpeterian … entrepreneur to also include the inventor in the innovation process. In addition, we provide a framework where the theories of … possibilities of successful commercialization since the inventor may further adapt the innovation to customer needs, transmit …

and direction of innovation in that software development is a core part of innovation activities in firms across a wide …-level survey data on the frequency and nature of software development among firms in Sweden, matched with the Community Innovation … Survey (CIS). We find robust evidence supporting a software-bias in innovation in that software development is associated …

innovation. The dataset is complemented with indicators of patent quality (patent renewal, forward citations, and patent family …

of highly valued products. In so doing, we suggest an innovation policy framework based on two pillars: (i) the … economy. We argue that the latter area has been overlooked in the policy discussion and that a coherent innovation policy …