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Economic Approaches to Innovation (Hardcover)
Loot Price: R3,857
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Economic Approaches to Innovation (Hardcover)
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Economic modelling of innovation demands a great deal from
economists since it requires them to analyse the new and unknown.
This volume brings together contributions from a distinguished
group of scholars who review a wide range of different theoretical
and empirical economic approaches to this important topic.Beginning
with a survey of recent economic analysis on the role of innovation
in driving growth, this volume features papers on the mainstream
approaches to the welfare economics of innovation, the pitfalls and
delays involved in bringing major inventions to market and the
public subsidy of research. Later chapters examine pricing
strategies for new products, models of productivity growth,
knowledge spillovers across national boundaries and the effect of
innovation on income distribution. While recognising the many
non-economic factors needed to explain innovation, Economic
Approaches to Innovation demonstrates that economic analysis has
much to offer in its modelling of key concepts such as uncertainty,
private information, incentives and public goods.
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