The determinants of a firm's innovative capacity are rooted in organizational design, incentives, human resources, internal culture, and external linkages. Profiting from innovation is always a challenge and licensing is one of many options

This introduction sets in context the works that follow, which are meant to take stock of the theoretical advances and also historical changes since the seminal Arrow (1962) and Nelson (1959). First, we summarize some of the original Arrow--Nelson insights. Second, we map the subsequent...