How innovators capture value from innovation is an enduring question. Two decades ago an effort was made in “Profiting rom Innovation” to unlock this conundrum. This paper reflects on the framework offered, identifies and reviews the analytical oundations of the theory, and recognizes subsequent contributions and advancements. Linkages are also made to the strategic anagement literature on “res...

Empirical and theoretical analyses of the management of innovation must carefully disentangle its several dimensions: Who finances R&D expenditures? Who has decision rights over the R&D process and property rights over the innovation? Who receives the return streams derived from the innovation? This paper is a first attempt at opening the R&D blackbox. It studies the foundations for co-financin...

We develop a model of Schumpeterian growth featuring stochastic diffusion process where the rate commercial success product innovations is endogenously determined by advertising intensity. consider both informative advertising, which young technological leaders use to increase probability diffusion, and defensive incumbents prevent competing products. Economic depends positively on arrival into...

This paper assesses the potential impact of European Union Emissions Trading System (EU ETS) on firm productivity. We estimate a stylized version neo-Schumpeterian model, which incorporates innovation and productivity catch-up as two sources firm’s growth, while at same time accounting for persistent dispersion within industries. dynamic model allows us to differentiate effects EU ETS total fac...

This paper seeks to offer a theoretical platform where the modern “resource-based view” of the firm might meet with evolutionary economics and the study of entrepreneurship, and with the economics of industrial organization. It does so by proposing the concept of the “resource economy” within which productive resources are produced and exchanged between firms. This is presented as the dual of t...