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 …

existing knowledge is supplemented by the idea that markets are also most effectively creating new knowledge. However, in his … assessment Hayek neglects the role of new technological knowledge. He ignores that the discovery procedure induces not only price …

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 …

This paper discusses several features of knowledge that are often considered crucial for characterizing the economic … significance of knowledge: whether it is overtly accessible or tacit, whether it can be or is encoded or not, and whether it has … public or private good character. It is argued that all these features depend similarly on the state of the knowledge …

To produce an effect, knowledge needs to be first acquired and expressed by a human agent. This trivial fact is a … constraint on knowledge commercialization. The highly systemic nature of the decentralized production of knowledge is another …, focusing particularly on the often-neglected entrepreneurial aspects of the transfer of knowledge. It shows how the constraints …