We analyze social learning and innovation in an overlapping generations model in which available technologies have … path of a Brownian motion with drift. Marginal innovation consists in choosing a technology within the convex hull of … policies already explored and entails no direct cost. Radical innovation consists in experimenting beyond the frontier of that …

We analyze social learning and innovation in an overlapping generations model in which available technologies have … path of a Brownian motion with drift. Marginal innovation consists in choosing a technology within the convex hull of … policies already explored and entails no direct cost. Radical innovation consists in experimenting beyond the frontier of that …

-armed bandit literature with a spatial representation of innovation. Past successes reduce the incremental value of experimentation …We study social learning and innovation in an overlapping generations model, emphasizing the trade-off between marginal … innovation (combining existing technologies) and radical innovation (breaking new ground). We characterize both short-term and …

-armed bandit literature with a spatial representation of innovation. Past successes reduce the incremental value of experimentation …We study social learning and innovation in an overlapping generations model, emphasizing the trade-off between marginal … innovation (combining existing technologies) and radical innovation (breaking new ground). We characterize both short-term and …

-take-all R&D races without private information. We conclude that secrecy in R&D inefficiently slows down the pace of innovation. …

Many writers have claimed that R&D has two 'faces'. In addition to the conventional role of stimulating innovation, R … important in this catch up process as well as stimulating innovation directly. Trade, by contrast, plays a more modest role in …

Although non-R&D innovation activities account for a significant portion of innovation efforts carried out across very … jointly considering the effects of R&D and the impact of non-R&D innovation activities on the productivity levels of firms …

Many writers have claimed that R&D has two 'faces'. In addition to the conventional role of stimulating innovation, R … important in this catch up process as well as stimulating innovation directly. Trade, by contrast, plays a more modest role in …

Although non-R&D innovation activities account for a significant portion of innovation efforts carried out across very … jointly considering the effects of R&D and the impact of non-R&D innovation activities on the productivity levels of ?firms …