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 …