reduces carbon emissions by inducing substitution away from coal. Yet, the natural gas boom discourages innovation directed at …

We study a dynamic general equilibrium model where innovation takes the form of the introduction new goods, whose … production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are … substitution between goods and other parameters. Third, we show that the interplay between innovation and standardization may lead …

This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the … project to implement. A successful innovation can be copied by other firms. Symmetric equilibria (where actions do not depend … equilibria). In contrast to patents, subsidies to experimentation, research, or innovation cannot typically achieve this …

This paper investigates the effect of (potential) market size on entry of new drugs and pharmaceutical innovation …

. After linking these ideas to the induced innovation literature of the 1960s and the more recent directed technological …

choice between incremental and radical innovation, and on how managers of different ages and human capital are sorted across … consistent with this pattern. Our measures of creative innovations proxy for innovation quality (average number of citations per …

Crowdsourcing is an emerging technology where innovation and production are sourced out to the public through an open … fact that the exact difficulties of innovation tasks may not be known in advance, so tasks that require high-skill labor …

"cutthroat capitalism" that generates greater inequality and more innovation and will become the technology leaders, while others …

Despite the rapid pace of innovation in information and communications technologies (ICT) and electronics, aggregate US … stems in part from an unbalanced sectoral distribution of innovation over the last several decades. Because an industry …'s success in innovation depends on complementary innovations among its input suppliers, rapid productivity growth that is …