entrepreneurship literature is that opportunities are exogenous, the most prevalent theory of innovation in the economics literature … opportunity by developing a knowledge spillover theory of entrepreneurship. The basic argument is that knowledge created … endogenously via R&D results in knowledge spillovers. Such spillovers give rise to opportunities to be identified and exploited by …

The intellectual breakthrough contributed by the new growth theory was the recognition that investments in knowledge … and human capital endogenously generate economic growth through the spillover of knowledge. Endogenous growth theory does … not explain how or why spillovers occur. The missing link is the mechanism converting knowledge into economically relevant …

This paper explores the relationship between knowledge creation, entrepreneurship, and economic growth in the United … States over the last 150 years. According to the "new growth theory", investments in knowledge and human capital generate … economic growth via spillovers of knowledge. But the theory does not explain how or why spillovers occur, or why large …

among several individuals and strong properties of knowledge. We show that this generalized state-space model arises …

among several individuals and strong properties of knowledge. We show that this generalized state-space model arises …

-trivial unawareness among several individuals, and which satisfies strong properties of knowledge as well as all the desiderata on …

among several individuals and strong properties of knowledge. We show that this generalized state-space model arises …

, and which satisfies strong properties of knowledge as well as all the desiderata on unawareness proposed this far in the … literature. In an example of speculative trade, we demonstrate how mutual unawareness of fundamentals allows for common knowledge … standard information structures with strong properties of knowledge. …