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Network models of innovation and knowledge diffusion

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  • Cowan,Robin

    (MERIT)

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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Bibliographic Info

Paper provided by Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT) in its series Research Memorandum with number 016.

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Date of creation: 2004
Date of revision:
Handle: RePEc:unm:umamer:2004016

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Keywords: economics of technology ;

References

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Citations

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Cited by:
  1. Cantner, Uwe & Graf, Holger, 2006. "The network of innovators in Jena: An application of social network analysis," Research Policy, Elsevier, vol. 35(4), pages 463-480, May.
  2. Gurrieri, Antonia Rosa, 2013. "Networking entrepreneurs," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 47(C), pages 193-204.
  3. Mauro Caminati & Serena Sordi & Arsenio Stabile, 2006. "Patterns of Discovery," Department of Economics University of Siena 473, Department of Economics, University of Siena.
  4. Rafael Boix & Joan Trullén, 2009. "Industrial Districts, Innovation and I-district Effect: Territory or Industrial Specialization?," European Planning Studies, Taylor & Francis Journals, vol. 18(10), pages 1707-1729, February.
  5. Karolina Safarzyńska & Jeroen Bergh, 2010. "Evolutionary models in economics: a survey of methods and building blocks," Journal of Evolutionary Economics, Springer, vol. 20(3), pages 329-373, June.
  6. Andrea Morrison & Roberta Rabellotti, 2005. "Knowledge and Information Networks: Evidence from an Italian Wine Local System," KITeS Working Papers 174, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Sep 2005.
  7. Simona Cantono & Gerald Silverberg, 2008. "A percolation model of eco-innovation diffusion: the relationship between diffusion, learning economies and subsidies," MERIT Working Papers 025, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  8. D'Costa, Anthony P., 2004. "Globalization, Development, and Mobility of Technical Talent: India and Japan in Comparative Perspectives," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  9. Gurrieri, Antonia Rosa, 2008. "Knowledge network dissemination in a family-firm sector," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(6), pages 2380-2389, December.
  10. 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.
  11. Thomas Scherngell & Michael Barber, 2011. "Distinct spatial characteristics of industrial and public research collaborations: evidence from the fifth EU Framework Programme," The Annals of Regional Science, Springer, vol. 46(2), pages 247-266, April.
  12. Eymann, Torsten (Ed.), 2009. "Tagungsband zum Doctoral Consortium der WI 2009," Bayreuth Reports on Information Systems Management 40, University of Bayreuth, Chair of Information Systems Management.

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