We find that public research funding and venture capital have a complementary relationship in fostering innovation and the creation of new firms. Based on a panel of metropolitan areas in the United States from 1993 to 2002, we find that the positive relationships between government research...

The diffusion of knowledge plays an important role in both the creation and distribution of wealth. Attempting to construct a competitive advantage, managers of firms often seek to spread valuable knowledge widely across subunits of the organization, while simultaneously preventing its diffusion...

Although received wisdom suggests that scientific research increases the rate of technological advance, little research considers why and how this acceleration occurs. By treating invention as a process of recombining interdependent technological components, we gain traction on this issue....

This paper develops a theory of invention by drawing on complex adaptive systems theory. We see invention as a process of recombinant search over technology landscapes. This framing suggests that inventors might face a "complexity catastrophe" when they attempt to combine highly interdependent...