their inward looking or exploitation attitude in R&D and innovation. We argue that because of sunk costs and learning …. Among other things, this suggests that exploration, which leads to the opening of new innovation trajectories, requires not …

their inward looking or exploitationʺ attitude in R&D and innovation. We argue that because of sunk costs and learning …. Among other things, this suggests that explorationʺ, which leads to the opening of new innovation trajectories, requires not …

of R&D. Our work analyzes knowledge diffusion and knowledge externalities in generating innovation and in determining … productivity of R&D resources in generating innovation (patenting) and productivity (TFP). While we find that knowledge diffusion …