and reach beyond the boundaries of the firm. Accordingly, technology transfer from providers of knowledge intensive … strategic goals. Our stylized theoretical model combines a knowledge production function framework and transaction cost … economics. We hypothesize that the right balance between internal and external knowledge is critical for innovation. The …

? Friedrich A. Hayek thought it was the economy of knowledge with which the system operated, whereas for Joseph A. Schumpeter it … was the process of creative destruction. To our knowledge, the divergence of thought between these two Austrian …

comprehensive Neo-Schumpeterian economic theory, and develops some signposts in the sense of a roadmap for necessary strands of …

considerable influence on policy. This paper examines both the theory underpinning the IS approach, which bears considerable …