This paper constructs an equilibrium model of entrepreneurial innovation where individuals differ in their attitude … toward uncertainty. Unlike previous models of innovation, the firm-formation process is endogenous. An entrepreneur, who owns …'s willingness to work with the uncertain technology. The general equilibrium setting allows us to explore the impact of innovation …

dominate the phenomenon of knowledge diffusion in the process that is called ‘interactive learning’. We examine how knowledge … distribution of knowledge diffusion. We will show how these factors can be classified as follow: (1) learning strategies adopted by … their relative initial levels of knowledge. We shall also attempt to single out the relative effect of each of the above …