This paper models an economy in which a large number of agents are choosing among several technologies. There is a single, global, market for the technologies but they are subject to localized network externalities in use. We examine the issue of technological standardization, and the...

In this paper we model the formation of innovation networks as they emerge from bilateral actions. The effectiveness of a bilateral collaboration is determined by cognitive, relational and structural embeddedness. Innovation results from the recombination of knowledge held by the partners to the...

The impacts of the New Economy are not limited only to recently developed technologies, but involve new opportunities for more “traditional” technologies to develop. Knowledge-based industries, and information technologies in particular, hold both promises and threats in many fields....

This paper discusses recent attempts to codify knowledge through the development of expert systems in several different contexts. This paper argues that in the context of expert systems there is some knowledge that can be codified (turned into an expert system essentially in its entirety), some...

This paper examines the evolution of networks when innovation takes place as a result of agents bringing together their knowledge endowments. Agents freely form pairs creating a globally stable matching. paired agents combine their existing knowledge to create new knowledge. We study the...

A model in which agents on both sides of the market are subject to informational cascades isexamined. In an uncertain environment with asymmetric information agents tend to beoveroptimistic about the state of the world, a result that fits with empirical evidence on financingnew technologies....

Intellectual property rights (IPR) have been created as economic mechanisms to facilitate ongoing innovation by granting inventors a temporary monopoly in return for disclosure of technical know-how. Since the beginning of 1980s, IPR have come under scrutiny as new technological paradigms...

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In this paper a model for the formation of strategic alliances is studied. Innovation results from the recombination of knowledge held by the partners to the collaboration, and from the history of their collaboration. Innovation brings partners closer together, while at the same time the...

The simplest rationale for the existence of a publicly funded university is that it provides some form of public good. If all the outputs of a university were privately owned, and privately appropriable, there would be no need for public funding. Either firms would fund the research and training...