Scientific knowledge is believed to be the wellspring of innovation. Historically, firms have also invested in research … to fuel innovation and growth. In this paper, we document a shift away from scientific research by large corporations … innovation. Large firms appear to value the golden eggs of science (as reflected in patents) but not the golden goose itself (the …

This chapter reviews academic research on the connections between agglomeration and innovation. We first describe the … conceptual distinctions between invention and innovation. We then describe how these factors are frequently measured in the data …, industrial diversity) that theoretical and empirical work link to innovation, and we discuss factors that help sustain these …

-by-step innovation. Innovations result from costly R&D investments and move technology up one step. Competition is inversely measured by …-and-neck. All these results are consistent with the predictions of step-by-step innovation models …

We develop a model of induced innovation where research effort is a function of the death rate, and thus the potential … innovation based on differences in disease prevalence across population subgroups (i.e. race). Our model yields three empirical … population as a whole, induced innovation leads to growth in mortality disparities between minority and majority groups. Using …

We investigate rewards to R&D in a model where substitute ideas for innovation arrive to random recipients at random …

relating to patenting, robust conclusions regarding the empirical consequences for technological innovation of changes in …

Innovation is an important part of environmental policy, and encouraging innovation is often an explicit goal of … policymakers. A large literature in environmental economics examines the links between environmental policy and innovation. Popp et … al. (2010) provides an extensive review of the literature on environmental innovation. This paper updates that review …