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Innovation Policy in a Networked World

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  • Olav Sorenson

Abstract

Social relationships channel information, influence, and access to scarce resources. As a consequence, social networks--the patterns of these relationships across the members of a community--influence who comes up with important innovations, whether and how rapidly those innovations get adopted, and who has the ability to commercialize them. They therefore also affect the overall rate at which innovation occurs in the economy. This paper provides an introduction to and review of the research on social networks most relevant to innovation, with a particular focus on the earliest stages of the innovation process. It then discusses the likely consequences of a variety of policy interventions that could either reduce the importance of social relationships to innovation or alter the patterns of relationships in ways that might promote innovation.

Suggested Citation

  • Olav Sorenson, 2018. "Innovation Policy in a Networked World," Innovation Policy and the Economy, University of Chicago Press, vol. 18(1), pages 53-77.
  • Handle: RePEc:ucp:ipolec:doi:10.1086/694407
    DOI: 10.1086/694407
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    Cited by:

    1. Annika Rickne & Martin Ruef & Karl Wennberg, 2018. "The socially and spatially bounded relationships of entrepreneurial activity: Olav Sorenson—recipient of the 2018 Global Award for Entrepreneurship Research," Small Business Economics, Springer, vol. 51(3), pages 515-525, October.
    2. Massimo FLORIO & Francesco GIFFONI, 2019. "L’impatto sociale della produzione di scienza su larga scala: come governarlo?," Departmental Working Papers 2019-05, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    3. Squires, Dale & Vestergaard, Niels, 2018. "Rethinking the commons problem: Technical change, knowledge spillovers, and social learning," Journal of Environmental Economics and Management, Elsevier, vol. 91(C), pages 1-25.
    4. Kun Su & Heng Liu, 2021. "Financialization of manufacturing companies and corporate innovation: Lessons from an emerging economy," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(4), pages 863-875, June.

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    More about this item

    JEL classification:

    • 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
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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