The chapter presents an overview of the emerging field of behavioral innovation economics, which is the application of behavioral economic theory and principles to the subject matter of innovation economics (also known as Schumpeterian or evolutionary economics). A behavioral innovation...

We address the question of the nature of evolutionary economics as an empirical science. We argue that economics is both a qualitative science (at the generic level) and a quantitative science (at the operational level). We map out how the generic approach provides a framework for empirical...

The purpose of this paper is to introduce the concept of ‘coworking' to an academic audience. It argues that coworking is a complex social phenomenon that can be differentiated from other spatial concepts that relate to work, learning and social interactions. The paper provides an historical...

An innovation commons is an institutional solution to the innovation problem in which knowledge, information and resources are pooled under defined governance rules to enable a particular community access to those inputs into innovation, often in a context of peer production. This paper examines...

We propose a stylized and tractable Neo-Schumpeterian model of sectorial transformations in which demand side knowledge constraints inhibit innovation diffusion and industrial change, causing structural instability. Evolutionary competition in the model implies that innovation can overshoot the...

Drawing on economic transaction cost theory, this paper explores how blockchain and distributed ledger technology could shift the smart city agenda by altering transaction costs with implications for the coordination of infrastructures and resources. Like the smart city the crypto city utilizes...

Innovation policy is normally evaluated from the welfare perspective of market failure, and therefore focuses on social benefits. This paper adapts the Djankov et al. (2003) model of comparative social costs associated with any institution to analyse the specific institutions of innovation...

A widely observed yet little studied phenomenon in the competitive behavior of innovating firms is what we call ‘creative cycles'. This occurs when the firm's innovative strategy cycles between bold visions and more conservative positions. We propose an appreciative theory of this dynamic...

In modern innovation economics, the underlying economic problems are market failure in private investment in new ideas, along with the coordination problems and the disruptive consequences of innovation. Innovation policy addresses the innovation problem with government action. Drawing upon the...

This paper reports on a study of education credentials in relation to job requirements in the creative industries. Because of asymmetric information, the signaling model predicts over-education by those seeking to enter creative industries, as has been observed in many other industries. However,...