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Innovation and Equilibrium?

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  • Martin Shubik

Abstract

A discussion is given of the problems involved in the formal modeling of the innovation process. The link between innovation and finance is stressed. The nature of how the circular flow of funds is broken and the role of finance in evaluation and control is discussed.

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Bibliographic Info

Paper provided by David K. Levine in its series Levine's Working Paper Archive with number 814577000000000151.

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Date of creation: 27 Feb 2009
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Handle: RePEc:cla:levarc:814577000000000151

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  1. Koopmans, Tjalling C., 1975. "Concepts of Optimality and Their Uses," Nobel Prize in Economics documents 1975-2, Nobel Prize Committee.
  2. Juergen Huber & Martin Shubik & Shyam Sunder, 2007. "Three Minimal Market Games: Theory and Experimental Evidence," Levine's Bibliography 122247000000001480, UCLA Department of Economics.
  3. Martin Shubik, 1977. "A Theory of Money and Financial Institutions," Cowles Foundation Discussion Papers 462, Cowles Foundation for Research in Economics, Yale University.
  4. Gode, Dhananjay K & Sunder, Shyam, 1993. "Allocative Efficiency of Markets with Zero-Intelligence Traders: Market as a Partial Substitute for Individual Rationality," Journal of Political Economy, University of Chicago Press, vol. 101(1), pages 119-37, February.
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Cited by:
  1. Lou, Weifang & Prentice, David & Yin, Xiangkang, 2008. "The Effects of Product Ageing on Demand: The Case of Digital Cameras," MPRA Paper 13407, University Library of Munich, Germany.

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