of highly valued products. In so doing, we suggest an innovation policy framework based on two pillars: (i) the … accumulation, investment, and upgrading of knowledge and (ii) the implementation of mechanisms that enable knowledge to be … exploited such that growth and societal prosperity are encouraged. Knowledge is a necessary but far from sufficient condition …

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 …

strong performance in technological innovation. …

This essay uses Edmund Phelps new book Mass Flourishing: How Grassroots Innovation Created Jobs,Challenge, and Change … (Princeton University Press, 2013) as inspiration to discuss innovation and entrepreneurship. The book is laudable for its … innovation and the lack of convincing empirical evidence for the claim that the rate of innovation has slowed. These flaws are …

In this paper, we argue that evasive entrepreneurship is an important source of innovation in the economy. Institutions …

. 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 …