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The taxonomy aims to classify innovation modes according to different sectoral groups and the flow of knowledge between such groups. It was first proposed by Science Policy Research Unit (SPRU) researcher Keith Pavitt at the University of Sussex and has since been applied in innovation research to describe and categorize industries and the ...
Innovation economics is a growing field of economic theory and applied/experimental economics that emphasizes innovation and entrepreneurship. It comprises both the application of any type of innovations, especially technological but not only, into economic use.
Neo-Schumpeterian economics is a school of thought that places technological innovation at the core of economic growth and transformation processes. It is inspired by the work of Joseph Schumpeter who coined the term creative destruction for the continuous introduction of technological change that drives growth by replacing old, less productive structures with new, more productive ones.
The economics surrounding a single patent, or group of patents, revolves around the balance between the expense of maintaining the patent(s), and the income derived from owning that/those patents. [7] Similarly the economics of whether to seek a patent present similar concerns with the added up-front costs of obtaining the patent.
This is the point in time when people started to talk about technological product innovation and tie it to the idea of economic growth and competitive advantage. [40] Joseph Schumpeter (1883–1950), who contributed greatly to the study of innovation economics, is seen as the one who made the term popular. Schumpeter argued that industries must ...
Hirsh Zvi Griliches (/ ˈ ɡ r ɪ l ɪ k ə s / GRIL-i-kəs; 12 September 1930 – 4 November 1999) [1] was a Lithuanian-born economist at Harvard University.The works by Zvi Griliches mostly concerned the economics of technological change, including empirical studies of diffusion of innovations and the role of R & D, patents, and education.
The knowledge economy, or knowledge-based economy, is an economic system in which the production of goods and services is based principally on knowledge-intensive activities that contribute to advancement in technical and scientific innovation. [1]
The Linear Model of Innovation was an early model designed to understand the relationship of science and technology that begins with basic research that flows into applied research, development and diffusion [1] It posits scientific research as the basis of innovation which eventually leads to economic growth. [2]