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Fagerberg - Innovation a Guide to Literature

Fagerberg - Innovation a Guide to Literature - 2 Resistance...

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May be carried out anywhere Invention - first occurrence Occur mostly in firm Lengthy process - many interrelated innovations Innovation - first attempt to carry out in practice Invention and innovation is a continuous progress , New products 1. New methods of production 2. New sources of supply 3. Exploitation of new markets 4. New ways to organize business 5. Schumpeter's 5 Types of Innovations Uncertainty inherent in all innovation projects 1. Need to move quickly before someone else did (and reap potential economic reward)
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Unformatted text preview: 2. Resistance to new ways 3. Schumpeter's Innovation Process • Innovation 1. Imitation 2. Other efforts related to the commercial exploitation 3. Schumpeter + Growth Rates Across Countries • Innovator and imitator • Self-reinforcing effects (i.e. polariod) ○ Path dependency • Fagerberg - Innovation a Guide to Literature Tuesday, October 06, 2009 2:41 AM 143 Midterm 1 Page 1...
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