We model a key step in the innovation process, hypothesis generation, as the making of predictions over a vast …, they use artificial intelligence (AI) instead. We model innovation as resulting from sequential search over a combinatorial … innovation outcomes of interest - the probability of innovation, expected search duration, and expected profit. We describe …

Innovation is often predicated on discovering useful new combinations of existing knowledge in highly complex knowledge …

The development prospects of a poor country depend in part on its capacity for innovation. The productivity of its …

The extant literature linking slack time to innovation focuses on how slack time facilitates creative activities such … are less creative but still important for innovation, namely mundane, execution-oriented tasks. First, we document the …, we report timing and project type evidence consistent with the causal interpretation that slack time drives innovation …