innovation can be systematically distorted. This paper builds a simple model of endogenous technology, which generalizes existing … comparative static results and characterizes potential distortions in the direction of innovation. I show that empirical findings …

We study a dynamic general equilibrium model where innovation takes the form of the introduction new goods, whose … production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are … substitution between goods and other parameters. Third, we show that the interplay between innovation and standardization may lead …

This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the … allocation of resources by encouraging rapid experimentation and efficient ex post transfer of knowledge across firms. Each firm … project to implement. A successful innovation can be copied by other firms. Symmetric equilibria (where actions do not depend …

U.S. National Institutes of Health's (NIH's) Small Business Innovation Research (SBIR) award program. Based on this …