Institutional dynamics and natural resource management / Alexander Smajgl and Silva Larson -- Institutional diversity and contextual change -- Multiple institutions for multiple outcomes / Elinor Ostrom -- The challenge of maintaining the salience of common property rights with increasing...

Accessing external finance for innovation is notoriously difficult. We study the effect of financial constraints on the probability of conducting process innovation, while also considering the role of past innovating experience. Theoretically, we show a firm’s optimal process innovation...