Arbeitspapier
Exploration and exploitation: the role of entrepreneurship and R&D in the process of innovation
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.
- Sprache
-
Englisch
- Erschienen in
-
Series: Jena Economic Research Papers ; No. 2007,108
- Klassifikation
-
Wirtschaft
Innovation and Invention: Processes and Incentives
One, Two, and Multisector Growth Models
- Thema
-
Innovation
Variety Expansion
Quality Ladders
Entrepreneurship
R&D Sector
Innovation
Produktqualität
Unternehmer
Industrielle Forschung
Mehr-Sektoren-Modell
Arbeit
Allokation
Dynamisches Gleichgewicht
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Keilbach, Max
Sanders, Mark
- Ereignis
-
Veröffentlichung
- (wer)
-
Friedrich Schiller University Jena and Max Planck Institute of Economics
- (wo)
-
Jena
- (wann)
-
2007
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Keilbach, Max
- Sanders, Mark
- Friedrich Schiller University Jena and Max Planck Institute of Economics
Entstanden
- 2007
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