Although the validity of knowledge is critical to scientific progress, substantial concerns exist regarding the governance of knowledge production. While research errors are as relevant to the knowledge economy as defects are to the manufacturing economy, mechanisms to identify and signal...

This paper provides a systematic examination of the use of a Grand Innovation Prize (GIP) in action – the Progressive Automotive Insurance X PRIZE – a $10 million prize for a highly efficient vehicle. Following a mechanism design approach we define three key dimensions for GIP evaluation:...

This paper evaluates the role of regional cluster composition in regional industry performance. On the one hand, diminishing returns to specialization in a location can result in a convergence effect: the growth rate of an industry within a region may be declining in the level of economic...