Compares Jaffe's work on the use of patents as a measure of the spillover of university research with the work of Acs and Audretsch in which innovation activity is measured by number of innovations. Jaffe's work, which modified the knowledge production function proposed by Griliches, showed a...

Research which explores unchartered waters has a high potential for major impact but also carries a higher uncertainty of having impact. Such explorative research is often described as taking a novel approach. This study examines the complex relationship between pursuing a novel approach and...