Technical advance requires resources and is motivated by the quest for profits; therefore, the rate and direction of advance is determined by the economic system. Recognition of this fact has focused attention on the performance of the market economy in the allocation of resources to technical advance, and the consequent body of research is surveyed and synthesised in this book. The theories of market structure and innovation proposed by Schumpeter, Galbraith, Arrow, Schmookler, Scherer, Mansfield, Phillips, Barzel, Kamien and Schwartz, Loury, Nelson and Winter, Grabowski, Dasgupta and Stiglitz, and others are presented in an integrated form. These theories deal with the nature of competition, the incentives to innovate and the pace of innovative activity under different market structures, and the existence of a market structure that yields the most rapid rate of innovation. In addition, the findings of seventy empirical studies dealing with various facets of the microeconomics of technical innovation are presented. The book is designed to be accessible to economists working in a variety of situations - in universities, business and government - and who are concerned with questions of technical innovation. It is also suitable for senior-level undergraduates and first year graduate students approaching the subject in a comprehensive way for the first time.
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Book Description
This book examines the question of technical progress and its relation to economic growth. The authors review the main theories of market structure and innovation, as well as seventy empirical studies dealing with various facets of the microeconomics of technical innovation.
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Inside This Book
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First Sentence:
It hardly seems necessary these days to point out the importance of technical advance. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
innovational rewards, innovational rivalry, rival preemption, rival precedence, optimal introduction time, interaction between market structure, maximum inventive activity, realizing monopoly profits, innovational output, optimal project size, nth firm, innovational effort, costless imitation, rival entry, reward stream, inventive output, development cost function, initial cash balance, rival innovation, rival introduction, game theoretic formulation, expected completion time, relationship between market structure, socially optimal solution, cash constraint Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, United Kingdom, General Electric New!
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
It hardly seems necessary these days to point out the importance of technical advance. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
innovational rewards, innovational rivalry, rival preemption, rival precedence, optimal introduction time, interaction between market structure, maximum inventive activity, realizing monopoly profits, innovational output, optimal project size, nth firm, innovational effort, costless imitation, rival entry, reward stream, inventive output, development cost function, initial cash balance, rival innovation, rival introduction, game theoretic formulation, expected completion time, relationship between market structure, socially optimal solution, cash constraint Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, United Kingdom, General Electric New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 37
books:
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books
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- Capitalism, Socialism, and Democracy by Joseph A. Schumpeter on page 7, page 10, and Back Matter
- Descartes: Discourse On Method by Laurence J. Lafleur on page 4, and Back Matter
- Technological Change by Brown in Back Matter (1), and Back Matter (2)
- The Wealth of Nations (Bantam Classics) by Adam Smith on page 4, and Back Matter
- Limits to Growth: The 30-Year Update by Donella H. Meadows on page 5, and Back Matter
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- Regulation and the Revolution in United States Farm Productivity (Studies in Economic History and Policy: USA in the Twentieth Century) by Sally H. Clarke on page 10, and page 11
- Real Options in Practice by Marion A. Brach on page 173, and Back Matter
- The Regulation of Agricultural Biotechnology by Robert E Evenson on page 108, and page 181
- Global Sourcing Strategy: R&D, Manufacturing, and Marketing Interfaces by Masaaki Kotabe on page 200, and Back Matter
- US and EC Oligopoly Control (International Competition Law Series Set) by Sigrid Stroux on page 8, and Back Matter
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