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Potentials of game theory for analysis and improvement of innovation policy and practice in a dynamic socio-economic environment

Author

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  • Igor Dubina
  • Elias G. Carayannis

Abstract

This paper addresses challenges, questions and problems of effective and efficient strategies of innovators, entrepreneurs and innovation policy makers in an environment with dynamic change, complexity, risk, and uncertainty. In this research, we use game theory principles, methodological approaches, and methods for theoretical analysis, and innovation games (living labs) as a tool for empirical analysis. Based on our research and our experience applying these approaches, we summarized and stated some policy recommendations that a game-theoretic approach turns up. JEL Codes: C70, O31, O32, O38, M10

Suggested Citation

  • Igor Dubina & Elias G. Carayannis, 2015. "Potentials of game theory for analysis and improvement of innovation policy and practice in a dynamic socio-economic environment," Journal of Innovation Economics, De Boeck Université, vol. 0(3), pages 165-183.
    • Handle: RePEc:cai:jiedbu:jie_018_0165
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    Citations

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    Cited by:

    1. Wei Gao & Daojuan Wang, 2021. "Will Increasing Government Subsidies Promote Open Innovation? A Simulation Analysis of China’s Wind Power Industry," Sustainability, MDPI, vol. 13(23), pages 1-20, December.

    More about this item

    Keywords

    innovation; game theory; policy; strategy; innovation games; uncertainty; risk;
    All these keywords.

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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