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External financing is important when inventors and small technology-based firms wish to commercialize their inventions. However, it is likely that problems related to adverse selection and moral hazard are present, and market failures occur, since inventors know more about the inventions than do...
Persistent link: https://www.econbiz.de/10010320027
According to Schumpeter, the creative process of economic development can be divided into three distinguishable stages 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...
Persistent link: https://www.econbiz.de/10010320081
Modeling the spatial aspect of growth has finally become an important subject of economics as exemplified by the increasing popularity of the new economic geography. However, new economic geography models have still not been able to develop a consistent approach to integrate innovation, space...
Persistent link: https://www.econbiz.de/10010271745
In this paper we examine the importance of financial and other obstacles to innovation in the Netherlands using statistical information from the CIS 3.5 innovation survey. We report results on the effect of these obstacles on the firms' decision to abandon, prematurely stop, seriously slow down,...
Persistent link: https://www.econbiz.de/10010275869
The globalized Western culture of innovation, as propagated by major aid institutions, does not necessarily lead to empowerment or improvement of the well-being of the stakeholders. On the contrary, it often blocks viable indigenous innovation cultures. In African societies and African Diasporas...
Persistent link: https://www.econbiz.de/10010275975
differ. Functional flexibility is strongly positively associated with product innovations. In contrast, numerical flexibility … allows firms to ?buy? innovations in the short run, but reduces innovative capacity in the longer run. …
Persistent link: https://www.econbiz.de/10010297470
We present a model of endogenous firm growth with R&D investment and stochastic innovation as the engines of growth. The model for firm growth is a partial equilibrium model drawing on the quality ladder models in the macro growth literature, but also on the literature on patent races and the...
Persistent link: https://www.econbiz.de/10010330288
In this paper, a theoretical model of the impact of product and process innovations on output, capacity utilization … than noninnovative firms. Innovations also change the market structure. The frequency of price and output changes is lower …
Persistent link: https://www.econbiz.de/10010332080
innovation market. If employment protection is introduced, firms' willingness to pay for product or process innovations increases … innovations and firms. …
Persistent link: https://www.econbiz.de/10010500437
innovations have been introduced in the market. This paper applies a new method to identify innovations in patent databases by … forward citations. Further, successful innovations are most positively related to patent renewal. Based on the traditional … innovations can be predicted. The developed parameters may be used to identify innovations across sectors and regions in other …
Persistent link: https://www.econbiz.de/10010504528