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Economics has not given sufficient attention to the microeconomic
analysis of innovation and technological change. Counteracting this
imbalance, The Microeconomics of Product Innovation considers how
the use of economic analysis can guide and inform the search for
insight in the generation and adoption of new products synonymously
labelled product innovation. Written in an accessible tone and
restricting its analysis to the use of microeconomics, this book
encompasses the definition of product innovation. It explores means
of measurement and revealed patterns of the extent of product
innovation; the economic analysis of the forces driving the demand
for, the supply of, and incentives to generate new products;
empirical evidence upon the determinants of the extent of product
innovation; the diffusion of product innovations; product
innovation and firm performance; price measurement under product
innovation; product innovation and welfare; and public policy and
product innovation.
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