This paper estimates the social returns to investments in innovation. The disparate spillovers associated with … innovation, including imitation, business stealing, and intertemporal spillovers, have made calculations of the social returns … under conservative assumptions, innovation efforts produce social benefits that are many multiples of the investment costs …

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

burden mechanism suggests that the nature of innovation is changing, with negative implications for long-run economic growth …

"In advanced economies like the United States, innovation has long been recognized as a central force for increasing … socioeconomic prosperity and improving human health. Today, U.S. government policy seeks to promote innovation through a suite of … Business Innovation Research program to the National Science Foundation. This book surveys key dimensions of innovation policy …

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

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 …

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 …