It is critical that technology recipients have the prerequisite knowledge and scientific base to best exploit the information. This includes domestic private and public research laboratories and universities, in addition to a sound basis of technical skills and human capital. Each of these may...

The economic liberalization in India was expected to boost the economy, particularly the industrial sector through faster technological development. The Schumpeterian hypothesis, which studies the relationship between market structure variables such as firm size and market concentration and...

The knowledge society is characterized by knowledge becoming a kind of commodity that can be traded and priced. Knowledge-intensive business services (KIBS) are representative for such a knowledge-based economy, since their main input and output factor is directly related to knowledge itself....

FinTech (financial technology) is asserted as a disruptive paradigm with digital technologies driving authentic innovation within the financial services industry. Much attention and hyperbole has been attributed to startup FinTech developers and the potential of applications for consumers of...

A model of open innovation among competing firms is developed. Innovation is modelled as a dynamic sequential process where existing technologies advance through research. New technologies are incorporated into next generation of competing products. This model is implemented in an evolutionary...

Innovative ideas have unique properties arising from low communication costs. But ideas come from knowledge that is costly to communicate. “Formalizing” knowledge — codifying, developing standards, etc. — reduces these costs. In a simple model, formalization is associated with changes in...

In this paper, we first provide a simple framework for cooperation in product development between competitors. We put forward the tradeoff between the benefits obtained through development cost sharing and the cost of intensified competition due to reduced product differentiation, which implies...