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 …

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are …

. 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 …

sales price of a developed innovation. This will trigger preemptive acquisitions by incumbents, thus increasing the reward …

growth. In this paper we study the effects of tax and subsidy policies on entrepreneurs’ choice of riskiness of an innovation … project and on their mode of commercializing the innovation (market entry versus sale). Limited loss offset provisions in the … fundamental policy trade-off between the declared goals of promoting employment and innovation in small, entrepreneurial firms …

' signaling-driven investment, despite the risk of buying a bad innovation. We finally show at what point the presence of active …

the bidding competition for the innovation and by increasing the relative profitability of being the most efficient firm … innovation for sale, relative to innovation for entry. …