The new understanding of the characteristics of knowledge indivisibility and knowledge appropriability makes it possible to appreciate the key role pecuniary externalities play both in the generation and in the exploitation of technological knowledge. Pecuniary externalities affect access to...

The analysis of social interactions as drivers of economic dynamics represents a growing field of the economics of complexity. Social interactions are a specific form of interdependence whereby the changes in the behavior of other agents affect the structure of the utility functions for...

The paper investigates the effects of agglomeration and specialization of technological activities on regional productivity growth, applying the notion of pecuniary knowledge externalities. The latter are indirect interdependencies between firms mediated by the price system. Pecuniary knowledge...

Venture capitalism is an outcome of the ICT Revolution, which made its appearance first in the US during the late 1970s and early 1980s and then in other countries including Israel during the 1990s. It explains the new pervasive role of small firms in the introduction of technological...

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,...