Pecuniary externalities are crucial in shaping the strategies to value the distinctivecompetences and the economic success of innovative firms. The analysis of conditions forlocalized knowledge appropriation and exploitation makes it possible to identify idiosyncratic production factors....

Recent advances in the economics of knowledge highlight the key role of pecuniary knowledge externalities in explaining the system dynamics of total factor productivity growth. When non-exhaustible technological knowledge is an input both in the production of new goods and of further knowledge,...

The paper investigates the effects of agglomeration and specialization of technological activities on regional productivity growth, applying the notion of pecuniary knowledge externalities. The latter are indirect interdependencies between firms mediated by the price system. Pecuniary knowledge...

The new understanding of the characteristics of knowledge indivisibility and knowledge appropriability makes it possible to appreciate the key role pecuniary externalities play both in the generation and in the exploitation of technological knowledge. Pecuniary externalities affect access to...