We refine modelling of the radical innovation decision in this paper by extending real option theory to include non … stochastic shocks imply that investment in radical innovation may very often be too time consuming and/or expensive to remain …

How does innovation impact on development? How, and under what conditions, do entrepreneurs in developing countries … innovate? And what can be done to support innovation by entrepreneurs in developing countries? This policy brief addresses … these questions and explains the relationship between entrepreneurship, innovation and development. Policy lessons are drawn …