We model a key step in the innovation process, hypothesis generation, as the making of predictions over a vast …, they use artificial intelligence (AI) instead. We model innovation as resulting from sequential search over a combinatorial … innovation outcomes of interest - the probability of innovation, expected search duration, and expected profit. We describe …

Empirical studies have found that enhanced foreign competition can encourage or discourage innovation. To address this …-product firms live forever, and the large firms invest in innovation in order to enlarge their product spans. All firms export. I … show that an increase in the competitiveness of foreign firms can increase or reduce innovation efforts of a large multi …

analysis proceeds in stages. It begins with an exogenous rate of innovation in order to focus on the first two components. The … last two components are added by endogenizing the rate of innovation. Finally, the paper considers the role of foreign …

We develop a two-country model of endogenous innovation and imitation in order to study the interactions between these … maximizing entrepreneurs. The steady-state equilibrium is characterized by constant aggregate rates of innovation and imitation …

We construct a model of the product cycle featuring endogenous innovation and endogenous technology transfer …

We develop a multi-country, dynamic general equilibrium model of product innovation and international trade to study …

Innovation is often predicated on discovering useful new combinations of existing knowledge in highly complex knowledge …

The development prospects of a poor country depend in part on its capacity for innovation. The productivity of its …

The extant literature linking slack time to innovation focuses on how slack time facilitates creative activities such … are less creative but still important for innovation, namely mundane, execution-oriented tasks. First, we document the …, we report timing and project type evidence consistent with the causal interpretation that slack time drives innovation …