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 paper sketches out a theoretical framework for analysing the interplay between eco-efficiency, cognition and institutions. It derives from analytical shortfalls of the prevailing literature, which features strongly engineering and business economics, by using insights from New Institutional...

This paper examines whether digitalization can be a driver of "upgrading" in global value chains and help developing countries move into higher value-added activities. In particular, the paper provides empirical evidence on the impact of digital capabilities on product upgrading in Indian...

The financial industry is being transformed by a combination of structural forces: heightened regulation, technological disruption, and changing demographics. These forces are lowering barriers to entry and increasing competition from within and outside the industry. A diversity of new entrants...

This paper tries to explain why a certain type of technology is skill-biased. In contrast with existing literature, this paper regards skilled workers as overhead labour, and presents a model wherein skilled workers constitute a fixed input, required to produce a new product. The demand for...

There is much we do not know and cannot know about the socioeconomic impacts of intelligent machines. The impacts will be driven by business strategies that differ by sector and country. “Good jobs” strategies are possible. It is important to identify and strengthen the factors, including...

This paper explores an equilibrium model for industry entry dynamics and technological change. We focus on the share valuation of firms in the transition as technology changes, and whether or not share prices are always increasing when technology improves. We find that there can be a U-shaped...

Patent race models assume that an innovator wins the only patent covering a product. But when technologies are complex, this property right is defective: ownership of a product's technology is shared, not exclusive. In that case I show that if patent standards are low, firms build "thickets" of...

Technology lock-in advocates argue that governments should step in to coordinate technology adoption decisions. Due to the presence of network effects, advocates warn that consumers may fail to adopt the best technology, thus missing out on potential benefits. Even worse, consumers may split,...

In this article we examine the interaction between firms' product and process innovation decisions and the role patent policy can play in directing technological change toward a socially efficient mix of innovations. Product innovation is a variant on a pioneer's new product; process innovation...