Innovation diffusion, technological convergence and economic growth

Andergassen, Rainer ; Nardini, Franco ; Ricottilli, Massimo (2013) Innovation diffusion, technological convergence and economic growth. Bologna: Dipartimento di Scienze economiche DSE, p. 22. DOI 10.6092/unibo/amsacta/3885. In: Quaderni - Working Paper DSE (912). ISSN 2282-6483.
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Abstract

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.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Andergassen, Rainer
Nardini, Franco
Ricottilli, Massimo
Keywords
innovation, innovation diffusion, technological convergence, general purpose technologies, economic growth
Subjects
ISSN
2282-6483
DOI
Deposit date
22 Nov 2013 09:07
Last modified
10 Feb 2014 10:39
URI

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