Knowledge is recognized as a crucial element of economic growth in addition to physical capital and labor. Knowledge …, identify, and exploit knowledge depends on the existing knowledge stock and the absorptive capacity of actors such as employees … at firms and researchers at universities and research institutions. The existing knowledge stock might not be …

history dependency is developed. Firms can accumulate knowledge by investing in R&D. As a benchmark without knowledge … experience by performing R&D the resulting effect of knowledge induces technological leaders to rest on their laurels which …

, and which satisfies strong properties of knowledge as well as all the desiderata on unawareness proposed this far in the … literature. In an example of speculative trade, we demonstrate how mutual unawareness of fundamentals allows for common knowledge … standard information structures with strong properties of knowledge. …

This paper discusses several features of knowledge that are often considered crucial for characterizing the economic … significance of knowledge: whether it is overtly accessible or tacit, whether it can be or is encoded or not, and whether it has … public or private good character. It is argued that all these features depend similarly on the state of the knowledge …

opportunity by developing a knowledge spillover theory of entrepreneurship. The basic argument is that knowledge created … entrepreneurship literature is that opportunities are exogenous, the most prevalent theory of innovation in the economics literature … endogenously via R&D results in knowledge spillovers. Such spillovers give rise to opportunities to be identified and exploited by …

knowledge: they do not require mutual understanding between the sender and the receiver as other forms of communication do. In … particular, the knowledge of both the team payoff function and the team organisation can be ordered according to hierarchical … ranks. First, the paper shows the equivalence between commands and communication in Marschak and Radner (1972). Second, it …

We analyze the performance of various communication protocols in a generalization of the Crawford-Sobel (1982) model of … possible that informative communication with one or both receivers is impossible in private, but possible in public. When the … by public communication with the flexibility provided by private communication and transmit more information to the …

We study the effects of communication in an experimental tournament between teams. When teams, rather than individuals … communication in such situations may have ambiguous effects on effort choices. Communication within teams may promote higher efforts … by mitigating the internal free-rider problem. Communication between competing teams may lead to collusion, thereby …