Innovation diffusion, technological convergence and economic growth
The paper investigates the mechanics through which novel technological principles are developed and diffused throughout an economy consisting of a technologically heterogeneous ensemble of firms. In the model entrepreneurs invest in the discovery and in the diffusion of a technological principle and their profit flow depends on how many firms adopt the innovation and on how long it takes other entrepreneurs to improve it. We show that technological convergence emerges from the competition among entrepreneurs for the profit flow and characterize the economy's growth rate.
|Date of creation:||Nov 2013|
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- Andergassen, Rainer & Nardini, Franco & Ricottilli, Massimo, 2009.
"Innovation and growth through local and global interaction,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 33(10), pages 1779-1795, October.
- R. Andergassen & F. Nardini & M. Ricottilli, 2008. "Innovation and growth through local and global interaction," Working Papers 637, Dipartimento Scienze Economiche, Universita' di Bologna.
- Brent Goldfarb, 2005. "Diffusion of general-purpose technologies: understanding patterns in the electrification of US Manufacturing 1880--1930," Industrial and Corporate Change, Oxford University Press, vol. 14(5), pages 745-773, October.
- Silverberg, Gerald & Verspagen, Bart, 2005. "A percolation model of innovation in complex technology spaces," Journal of Economic Dynamics and Control, Elsevier, vol. 29(1-2), pages 225-244, January.
- Silverberg, G. & Verspagen, B., 2002. "A Percolation Model of Innovation in Complex Technology Spaces," Working Papers 02.12, Eindhoven Center for Innovation Studies.
- Gerald Silverberg & Bart Verspagen, 2002. "A Percolation Model of Innovation in Complex Technology Spaces," Computing in Economics and Finance 2002 24, Society for Computational Economics.
- Nathan Rosenberg & Manuel Trajtenberg, 2009. "A General-Purpose Technology at Work: The Corliss Steam Engine in the Late-Nineteenth-Century United States," World Scientific Book Chapters,in: Studies On Science And The Innovation Process Selected Works of Nathan Rosenberg, chapter 6, pages 97-135 World Scientific Publishing Co. Pte. Ltd..
- Rosenberg, Nathan & Trajtenberg, Manuel, 2004. "A General-Purpose Technology at Work: The Corliss Steam Engine in the Late-Nineteenth-Century United States," The Journal of Economic History, Cambridge University Press, vol. 64(01), pages 61-99, March.
- Arenas, Alex & Diaz-Guilera, Albert & Perez, Conrad J. & Vega-Redondo, Fernando, 2002. "Self-organized criticality in evolutionary systems with local interaction," Journal of Economic Dynamics and Control, Elsevier, vol. 26(12), pages 2115-2142, October.
- Albert Díaz-Guilera & Alex Arenas Moreno & Conrad J. Pérez Vicente & Fernando Vega Redondo, 2000. "Self-Organized Criticality In Evolutionary Systems With Local Interaction," Working Papers. Serie AD 2000-30, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Andergassen, Rainer & Nardini, Franco & Ricottilli, Massimo, 2006. "Innovation waves, self-organized criticality and technological convergence," Journal of Economic Behavior & Organization, Elsevier, vol. 61(4), pages 710-728, December.
- Rainer Andergassen & Franco Nardini & Massimo Ricottilli, "undated". "Innovation Waves, Self-organised Criticality and Technological Convergence," Modeling, Computing, and Mastering Complexity 2003 19, Society for Computational Economics.
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