This Element combines the advances of the economics of knowledge and innovation implementing the Schumpeterian notion of creative response to understand the determinants and the effects of the rate and direction of technological and organisational change and its variance across time and space,...

During the last 40 years, economics of innovation has emerged as a distinct area of enquiry at the crossing of the economics of growth, industrial organization, regional economics and the theory of the firm, becoming a well-identified area of competence in economics specializing not only in the...