1. Introduction -- 2. Some initial definitions -- 3. Sources of new products -- 4. The extent of product innovation -- 5. The demand for a new product -- 6. Capacity creation, pricing, and the promotion of product innovations -- 7. The incentives to, and constraints upon, product innovation --...

Institutional and technological change is a highly topical subject. At the theoretical level, there is much debate in the field of institutional economics about the role of technological change in endogenous growth theory. At a practical policy level, arguments rage about how Japan and the...