English, Article, Journal or magazine article edition: Exploration and Exploitation - The Role of Entrepreneurship and R+D in the Process of Innovation Max Keilbach; Mark Sanders

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Bookmark: http://trove.nla.gov.au/version/1111
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Exploration and Exploitation - The Role of Entrepreneurship and R+D in the Process of Innovation
Author
  • Max Keilbach
  • Mark Sanders
Physical Description
  • preprint
Notes
  • We formulate a model that explicitly separates two functions in the innovation process: The introduction of new goods and the quality improvement of existing goods. While the latter is performed by the corporate R+D sector, the first is performed by entrepreneurs. We show that in a three sector economy, which also includes a producing sector, there exists a stable non trivial allocation of labor to production, innovation and entrepreneurship. We compute the steady state allocation of labor to production, R+D and Entrepreneurship. We show that the innovation rate decreases if one of the innovative sectors does not exist.
  • Innovation, Variety Expansion, Quality Ladders, Entrepreneurship, R+D Sector.
  • RePEc:jrp:jrpwrp:2007-108
Language
  • English
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