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Network models of innovation and knowledge diffusion

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Cowan,Robin (MERIT)

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Abstract

Much of modern micro-economics is built from the starting point of the perfectly competitive market. In this model there are an infinite number of agents — buyers and sellers, none of whom has the power to influence the price by his actions. The good is well-defined, indeed it is perfectly standardized. And any interactions agents have is mediated by the market. That is, all transactions are anonymous, in the sense that the identities of buyer and seller are unimportant. Effectively, the seller sells “to the market” and the buyer buys “from the market”. This follows from the standardization of the good, and the fact that the market imposes a very strong discipline on prices. Implicit here is one (or both) of two assumptions. Either all agents are identical in every relevant respect, apart, possibly, from the prices they ask or offer; or every agent knows every relevant detail about every other agent. If the former, then obviously my only concern as a buyer is the prices asked by the population of sellers since in every other way they are identical. If the latter, then each seller has a unique good, and again what I am concerned with is the price of it. In either case, we see that prices capture all relevant information and are enough for every agent to make all the decisions he needs to make....

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Paper provided by Maastricht : MERIT, Maastricht Economic Research Institute on Innovation and Technology in its series Research Memoranda with number 016.

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Date of creation: 2004
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Handle: RePEc:dgr:umamer:2004016

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Keywords: economics of technology ;

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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Roediger-Schluga, Thomas & Barber, Michael J., 2007. "R&D collaboration networks in the European FrameworkProgrammes: Data processing, network construction and selected results," UNU-MERIT Working Paper Series 032, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology. [Downloadable!]
  2. Andrea Morrison, 2005. "Inside the Black Box of ‘Industrial Atmosphere’: Knowledge and Information Networks in an Italian wine local system," Working Papers 97, SEMEQ Department - Faculty of Economics - University of Eastern Piedmont. [Downloadable!]
  3. Simona Cantono & Gerald Silverberg, 2008. "A percolation model of eco-innovation diffusion: the relationship between diffusion, learning economies and subsidies," UNU-MERIT Working Paper Series 025, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology. [Downloadable!]
  4. Rafael Boix Domenech, 2008. "Industrial districts, innovation and I-district effect: territory or industrial specialization?," Working Papers wpdea0807, Department of Applied Economics at Universitat Autonoma of Barcelona. [Downloadable!]
  5. Andrea Morrison & Roberta Rabellotti, 2005. "Knowledge and Information Networks: Evidence from an Italian Wine Local System," CESPRI Working Papers 174, CESPRI, Centre for Research on Innovation and Internationalisation, Universita' Bocconi, Milano, Italy, revised Sep 2005. [Downloadable!]
  6. Roediger-Schluga, Thomas & Barber, Michael J., 2006. "The structure of R&D collaboration networks in the European Framework Programmes," UNU-MERIT Working Paper Series 036, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology. [Downloadable!]
  7. Maria Daskalakis & Martina Kauffeld-Monz, 2007. "On the dynamics of knowledge generation and trust building in regional innovation networks. A multi method approach," papers on agent-based economics 4, University of Kassel, Institute of Economics. [Downloadable!]
  8. Mauro Caminati & Serena Sordi & Arsenio Stabile, 2006. "Patterns of Discovery," Department of Economics University of Siena 473, Department of Economics, University of Siena. [Downloadable!]
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