Innovation and Equilibrium?
A discussion is given of the problems involved in the formal modeling of the innovation process. The link between innovation and finance is stressed. The nature of how the circular flow of funds is broken and the role of finance in evaluation and control is discussed.
|Date of creation:||Sep 2008|
|Date of revision:|
|Publication status:||Published in D. Papadimitriou and L.R. Wray, eds., The Elgar Companion to Hyman Minski, Edward Elgar, 2010, pp. 153-168|
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- Koopmans, Tjalling C., 1975.
"Concepts of Optimality and Their Uses,"
Nobel Prize in Economics documents
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- Koopmans, Tjalling C, 1977. "Concepts of Optimality and Their Uses," American Economic Review, American Economic Association, vol. 67(3), pages 261-74, June.
- Gode, Dhananjay K & Sunder, Shyam, 1993. "Allocative Efficiency of Markets with Zero-Intelligence Traders: Market as a Partial Substitute for Individual Rationality," Journal of Political Economy, University of Chicago Press, vol. 101(1), pages 119-37, February.
- Juergen Huber & Martin Shubik & Shyam Sunder, 2007. "Three Minimal Market Games: Theory and Experimental Evidence," Levine's Bibliography 122247000000001480, UCLA Department of Economics.
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