innovations—innovations that break new ground in terms of knowledge creation. After presenting a motivating model focusing on the … choice between incremental and radical innovation, and on how managers of different ages and human capital are sorted across … consistent with this pattern. Our measures of creative innovations proxy for innovation quality (average number of citations per …

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 …

Research and development (R and D) leads to innovation, and innovation leads to technological change. Technological …’s innovation system. This text is intended for upper-level undergraduate and MBA courses such as Economics and Technology …, Economics of Innovation, and Economics of Science and Technology, among others. The first chapter introduces the concept of …