When I began my doctorate many years ago I was somewhat disenchanted with the static nature of much economic analysis whereas it was apparent that the world is very much dynamic and continually changing. I thus committed myself then, and in a long career that followed, to exploring the ways in which Economics could be used to clarify and address the major issues that arise from innovation generation and diffusion. I present these choices as a way that other like-minded individuals may begin the exploration of innovation and discover the breadth and depth of the contribution that has been made by economists.
Economics has not given sufficient attention to the microeconomic analysis of innovation and technological change. Counteracting this imbalance, The Microeconomics…
This major textbook written for students with some basic knowledge of economics, written by one of the best expositors in the field, provides a comprehensive yet very accessible introduction to the economics of innovation and as such represents an excellent place to start.
I have known Peter for a number of years and he always offers in his writings (and lectures) both valuable insights into his subject and a sense of excitement.
This major textbook provides a comprehensive yet accessible introduction to the economics of innovation, written for students with some basic knowledge of economics. G.M. Peter Swann contends that innovation is one of the most important economic and business phenomena of our time and a topic of great practical and policy interest, with widespread implications for our economy and society. This book engages with the reader to explore some of the key economic issues concerning innovation.
Bridging a gap in the literature, this timely textbook addresses critical questions such as: How should different aspects of innovation be described and classified? What…
This is the first volume of a two-volume, tour de force, which jointly offers 29 specially written papers by major contributors to the field that broadly explore the genesis of technological change and the ways it is commercialized and diffused.
It is an invaluable source of literature surveys of the many different areas covered within the definition of the economics of innovation and also provides predictions of fruitful research directions.
Having myself edited a Handbook some years earlier I know both the time and effort involved but also the extent of knowledge dissemination that a book such as this can provide.
Economists examine the genesis of technological change and the ways we commercialize and diffuse it. The economics of property rights and patents, in addition to industry applications, are also surveyed through literature reviews and predictions about fruitful research directions.
Two volumes, available as a set or sold separately
This book provides the foundations for the evolutionary approach to the analysis of innovation and technological change.
In doing so it represents a serious attack on the dominant neoclassical approach to economic analysis, raising significant objections to assumptions of profit maximization and market equilibrium, instead borrowing the concept of natural selection to construct a detailed evolutionary theory of business behaviour.
It is probably in the field of innovation that evolutionary economics has its greatest presence. As a mainly neoclassical scholar myself I value this alternative paradigm both as a challenge and a valuable alternative viewpoint.
This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Richard R. Nelson and Sidney G. Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms.
To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are…
This book is the starting point of the widespread study of innovation in Economics providing not only basic definitions still in use in the field today, but also fundamental insights into the relationships between innovation, profits, competition, business cycles, and other economic phenomena.
I first read this as a doctoral student and its weaving of innovation as a major driver of economic development and growth was an eye-opener and contrasted with much of the current literature at that time.
Joseph Schumpeter (1883-1950) is one of the most fascinating and influential economists of the twentieth century, renowned for his brilliant and unorthodox insights into the nature of capitalism. His students include leading economists such as Paul Samuelson, Robert Solow and the former chairman of the Federal Reserve, Alan Greenspan.
The Theory of Economic Development is one of Schumpeter's most important books and the one that made him famous. He poses a fundamental question: why does economic development proceed cyclically rather than evenly? Turning prevailing economic theory, which approached economics as equilibrium, on its head, Schumpeter argues it is because economics…
This manual provides an internationally agreed set of definitions of, and measurements for, different innovative activities and as such provides widely accepted guidelines by which internationally comparative data can be collected and government policies be targeted.
This may seem rather dry, but I think that it is crucial to the development of a subject area that all parties involved are using the same definitions of variables.
This has become of particular importance for many aspects of innovation have become the concerns of politicians and policymakers and past discussions have made me aware that parties more often than would wish are talking at cross purposes, using the same terms for different concepts.
What is innovation and how should it be measured? Understanding the scale of innovation activities, the characteristics of innovative firms and the internal and systemic factors that can influence innovation is a prerequisite for the pursuit and analysis of policies aimed at fostering innovation. First published in 1992, the Oslo Manual is the international reference guide for collecting and using data on innovation. In this fourth edition, the manual has been updated to take into account a broader range of innovation-related phenomena as well as the experience gained from recent rounds of innovation surveys in OECD countries and partner economies…
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 into the generation and adoption of new products. This book encompasses the definition of product innovation. It then 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.
