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We identify novel technologies using textual analysis of patents, job postings, and earnings calls. Our approach enables us to identify and document the diffusion of 29 disruptive technologies across firms and labor markets in the U.S. Five stylized facts emerge from our data. First, the...
Persistent link: https://www.econbiz.de/10012599289
Exploitation of disruptive technologies often requires resource deployment that creates conflict if there are divergent beliefs regarding the efficacy of a new technology. This arises when a visionary agent has more optimistic beliefs about a technological opportunity. Exploration in the form of...
Persistent link: https://www.econbiz.de/10013210119
This paper models the adoption by established firms of technologies that are internally disruptive in that different parts of an organization stand to lose or gain from adoption. When agents disagree with a decision they impose costs on the firm. The paper shows that any resistance to change...
Persistent link: https://www.econbiz.de/10013210120
We show that over the past half century innovative disruptions were central to understanding corporate defaults. In a given year, industries experiencing abnormally high VC or IPO activity subsequently see higher default rates, higher segment exits by conglomerates, and higher yields on bonds...
Persistent link: https://www.econbiz.de/10013172189
Prior work suggests that more valuable patents are cited more and this view has become standard in the empirical innovation literature. Using an NPE-derived dataset with patent-specific revenues we find that the relationship of citations to value in fact forms an inverted-U, with fewer citations...
Persistent link: https://www.econbiz.de/10012128360
We consider large, permanent shocks to individual occupations whose arrival date is uncertain. We are motivated by the advent of self-driving trucks, which will dramatically reduce demand for truck drivers. Using a bare-bones overlapping generations model, we examine an occupation facing...
Persistent link: https://www.econbiz.de/10014372500
Focusing on bipolar disorder (BD), we investigate the link between mental health, creativity, and wealth. Analyzing … compared with the bottom decile. Yet, wealth differences only explain a small portion of the link between BD and creativity …
Persistent link: https://www.econbiz.de/10012660100
Though fundamental to innovation and essential to many industries and occupations, individual creativity has received …
Persistent link: https://www.econbiz.de/10012480710
's military victories in Italy - to examine the effects of copyrights on creativity. To measure changes in creative output we …
Persistent link: https://www.econbiz.de/10012482065
range of arts. It is now time to extend economic research on creativity, by applying this analysis to other intellectual … not only to understand, but perhaps also to increase, the creativity of these remarkable individuals, and to help others …. Yet creativity - a primary source of the technological change that drives economic growth - is largely the domain of …
Persistent link: https://www.econbiz.de/10012462629