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Both institutional quality and institutional stability have been argued to stimulate economic growth. But to improve institutional quality, a country must endure a period of institutional change, which implies at least a little and possibly a lot of institutional instability. We investigate the...
Persistent link: https://www.econbiz.de/10013158839
Neoclassical theoretical approaches dominate modern health economics. However, the peculiarities of healthcare provision are so unusual that neoclassical theory is especially unsuited to the area. Even mainstream health economists often abandon Paretian welfare considerations to focus on needs...
Persistent link: https://www.econbiz.de/10012716388
This article revisits the socioeconomic theory of the Austrian School economist Ludwig M. Lachmann. By showing that the common claim that Lachmann's idiosyncratic (i.e., eclectic and multidisciplinary) approach to economics entails nihilism is unfounded, it reaches the following conclusions. (1)...
Persistent link: https://www.econbiz.de/10012716493
The paper revisits the socioeconomic theory of the Austrian School economist Ludwig M. Lachmann. By showing that the common claim that Lachmann's idiosyncratic (read: eclectic and multidisciplinary) approach to economics entails nihilism is unfounded, it reaches the following conclusions. (1)...
Persistent link: https://www.econbiz.de/10014051184
in intellectual property rights on the patenting and innovation strategies of Chinese and Western firms operating in … property rights and legal institutions that foster R&D and innovation, and when Western firms gain longer operational … informal institutional environments. It also provides important implications for policy and innovation strategies for …
Persistent link: https://www.econbiz.de/10012902031
innovation. We develop a formal model of an innovation arising from the combination of two existing modules with the objective to … innovation) and the benefits associated with returns to scale. We derive conditions for optimal diversity under different regimes …
Persistent link: https://www.econbiz.de/10011377094
Given the economic, societal and environmental relevance of innovation, this paper contrasts various models of … innovation, compares how innovation is understood in mainstream economics and evolutionary economics of innovation and juxtaposes … states. innovation performance, it argues that the science-push model of innovation is still highly influential in the EC STI …
Persistent link: https://www.econbiz.de/10010508513
The fundamental problem in the field of technology studies is how technology evolves and sustains economic change in human society. This study confronts the problem here by proposing the theory of technological host-parasites coevolution, an approach that may be useful for bringing a new...
Persistent link: https://www.econbiz.de/10014032744
understand these changes. This claim is based on our review of Innovation Studies, Social Innovation research, and Sustainability …
Persistent link: https://www.econbiz.de/10014452490
about future performance and standard measures of corporate innovation. We begin by developing a career concern model where … probability of failure, are more likely to pursue innovation, and that this effect is larger in more competitive industries. We …
Persistent link: https://www.econbiz.de/10013069826