Demographic change will be one of the major challenges for economic policy in the developed world in the next decades. In this article, we analyze the relationship between age structure and the number of startups. We argue that an individual's decision to start a business is determined by his or...

<a href="http://www.youtube.com/user/worldscientific#p/u/0/motNYu4eTFw">Video</a> ¡ª Prof. Eugene Fitzgerald talks about the process of innovation and introduces <i>Inside Real Innovation</i>. <i>Read more about the authors' interview/article with <a href="http://www.inc.com/magazine/20101201/mit-eugene-fitzgerald-understanding-innovation.html#">Inc.</a> and <a href="http://blogs.forbes.com/ciocentral/2011/01/31/why-the-government-needs-to-invest-in-innovation/">Forbes.</a></i> This breakthrough book gives a ground-floor view of the innovation process, showing how fundamental innovators...

External finance is central for nascent entrepreneurs, people in the process of starting new ventures. We argue that nascent entrepreneurs use patents and prototypes in order to signal their ability to appropriate the returns from their innovation as well as the project's feasibility. Our...

Since the 1990s, Japanese firms have sought to expand their capacity for innovation by incorporating Western management practices into their organizational culture. This combination of Japanese and Western management practices has been highly successful — Japanese firms are presently at...

This paper deals with innovative activities of firms, the resulting market success as well as the interdependencies between both. In a first theoretical part, different cases of those interdependencies are investigated by the way of a simple model based on replicator dynamics. It is shown that...

This paper presents a History Friendly Model which addresses the issue of the bifurcation in "technological styles" between US and Britain during the nineteenth century. The model aims at gaining a better understanding of the micro-dynamics that gave rise to different patterns of innovation in...

This paper takes a different perspective toward the escape entry incentive of incumbent firms to innovate. New entrants spawned from incumbents are not necessarily a threat; they can complement incumbents' production by commercializing knowledge incumbents are not willing or able to exploit....

Diffusion, or the widespread adoption of innovations, is a critical yet under-researched topic. There is a wide gap between development and successful adoption of an innovation. Therefore, a better understanding of why and how an innovation is adopted can help develop realistic management and...