With cumulative innovation and imperfect information about the value of innovations, intellectual property rights can result in hold-up and therefore it may be better not to have them. Extending the basic cumulative innovation model to include 'sampling' by second-stage firms, we find that the...

The benefits of an international division of labour is never illustrated more clearly than in small developed nations like Denmark. Without many natural resources such countries can never be self sufficient and they need access to foreign markets in order for their firms to specialise and...

Innovation may be seen as a process of knowledge creation and the speed and direction of knowledge creation reflects the organizational set-up of the firm as well as its investments in R&D and training. Establishing ‘a learning organization’ where horizontal interaction and communication...

The purpose of this paper is to show why to build ‘learning organisations’ must be a central element of knowledge management. The paper argues that the wide use of information technology has a contradictory impact on knowledge management. On the one hand it extends the potential for...