This article presents a formalization of knowledge based on a connectionist model of a firm's structure. Transaction … costs are not ignored, but integrated with the knowledge-based approach. A numerical example on the canonical comparison of …

. Uniting Schumpeter's concern for innovation with Keynes' concern for uncertainty and expectations formation, this article … focuses on the behaviour of entrepreneurs confronting uncertainty caused by innovation. Entrepreneurs' behaviour is … opened up by a successful innovation generates a state of optimism in the minds of single entrepreneurs, which eventually …

firm level. The first part of our analysis is dedicated to the determinants of innovation and reveals two different … innovation regimes. On the one hand, radical innovations rely strongly on firm-level spillovers, including property rights, and … innovation height matters. We also find evidence that TFP growth is better represented by an upward shift of the production …

in this area uses “backward” citations to measure technological knowledge acquired by the patenting entities studied …. “Forward” citations (citations to the firm’s patents made by other patents) have been interpreted as a measure of the knowledge … good measure of knowledge flows. Our paper assesses the legitimacy of using European patent citations as a measure of …

issue, we build a model in which the value of an innovation depends both on the type of innovation implemented (product …