The chapter presents an overview of the emerging field of behavioral innovation economics, which is the application of behavioral economic theory and principles to the subject matter of innovation economics (also known as Schumpeterian or evolutionary economics). A behavioral innovation...

Early stage innovation can benefit from cooperative pooling of distributed information and other innovation resources in order to discover entrepreneurial opportunities (what Allen and Potts (2016) call the ‘innovation commons'). The innovation commons is a private ordering, but social welfare...

This paper introduces the V-form organisation, a new form of firm organisation where vertical integration is outsourced to a decentralized distributed ledger (a blockchain). V-form organisations rely on the coordination of a (trusted) third party. It looks specifically at two instances of V-form...

What are the long-run economic and policy consequences of wide-spread blockchain technology adoption? We examine the structural economic effects of this institutional innovation as disintermediation in markets, dehierarchicalisation of organisations, and growing private provision of economic...

Agriculture is the production of food, fibre and data. The data attests to the qualities and properties of the food and fibre, and is therefore economically valuable. Yet while data is cheap to add, it is often costly to verify. In consequence, a significant percentage of the final cost of...

An innovation commons is an institutional solution to the innovation problem in which knowledge, information and resources are pooled under defined governance rules to enable a particular community access to those inputs into innovation, often in a context of peer production. This paper examines...

The theory of innovation policy widely neglects private uncertainty about optimal matching of an idea to an innovation institution for development. I argue that information pooling in the commons enables private uncertainty to be effectively resolved, prior to subsequent development in private...

Innovation policy has developed along two broad fronts: market failure and systems failure. Both focus on investing in innovation (solving a market incentive problem) and building infrastructure for innovation (solving an institutional coordination problem). But an alternative approach to...

The structure and dynamics of knowledge is central to modern evolutionary economics. In the canonical evolutionary model, knowledge exists in the routines and competencies of firms, an approach optimized to study industrial dynamics. In mainstream economics however, knowledge is represented as...