An average machine lags in terms of productivity and technological advancement behind a cutting-edge machine. This lag was first defined by Cummins and Violante (2002) as the technology gap. Using the vector error correction model, I show that the technology gap is cointegrated with human...

In an environment that features second-degree price discrimination, this paper fully characterizes the set of surplus divisions that can arise from all possible information consumers have about their valuation. By extending the techniques developed in a companion paper (Yang, 2019a), I show that...

The quality of an innovative idea and the likelihood that it will lead to a successful new product or service is directly related to the quality of the information that is used to generate the idea and assess its value. Ideas based on a poor understanding of the underlying need or technologies...

This paper offers an approach to assess the quality of foresight knowledge deployed or generated during foresight exercises. Although 'foresight knowledge' is a special case, the idea of having a procedure, an approach or a method available for assessing the quality of knowledge is tempting:...

The search for the root of Disruptive Innovation, although charged with intrigue, has remained an enigma since emerging from the work of Clay Christensen over two decades ago. Oft cited reasons for this include the "cherry picked" nature of the research and the persistent inability to predict...

The Delphi method is basically a structured group process through which experts assess issues on which knowledge is uncertain and imperfect by nature. Delphi procedures are applied among others in the worldwide expanding field of Technology Foresight. The paper explains basic elements of the...