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Endogenous Innovation

Endogenous Innovation

The Economics of an Emergent System Property
Cristiano Antonelli, Professor, Department of Economics and Statistics “Cognetti de Martiis”, University of Turin and Fellow, Collegio Carlo Alberto, Italy
This ground-breaking new book builds upon the Schumpeterian creative response. The author shows that firms, in out-of-equilibrium conditions, try and react by means of introducing innovations. The success of their reaction is contingent upon their access conditions to knowledge, which are shaped by the system in which they operate. The emergence of new innovations can, in turn, knock firms further out-of-equilibrium and cause changes in the system properties that govern their access to external knowledge. This path dependent loop of interactions between the system properties and the individual actions of firms, accounts for endogenous innovation and the dynamics of the system.

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Extent: c 256 pp
Hardback Price: $125.00 Web: $112.50
Publication Date: September 2017
ISBN: 978 1 78254 513 2
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  • Economics and Finance
  • Economics of Innovation
  • Evolutionary Economics
  • Innovation and Technology
  • Economics of Innovation

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Tackling innovation as an endogenous process, this groundbreaking new book builds upon the Schumpeterian creative response by implementing the tools of complexity economics. This reappraisal of the Schumpeterian legacy allows the author to apply complexity economics to endogenous knowledge externalities and consequently move away from the Darwinistic and biological accounts of evolutionary economics.

This approach proves that firms, in out-of-equilibrium conditions, try and react by means of introducing innovations. The success of this reaction is contingent upon access conditions to knowledge externalities. Cristiano Antonelli demonstrates that the consequent introduction of innovations may, in turn, knock firms further out of equilibrium and cause positive changes in the system’s properties that feed the introduction of further innovations. In addition, this can also engender the decline of the system’s properties and push firms to adaptive response that drive the system towards an equilibrium without growth and change. This path dependent loop of interactions between the system properties and the individual actions of firms is central to this book.

Paving the way to a new phase of evolutionary economics, the book’s prime readership will be students and scholars who study and teach evolutionary economics, the economics of innovation and/or the economics of growth.

Critical Acclaim

‘Cristiano Antonelli explores almost a century of economic research on innovation and skillfully brings together the giants of innovation economics, namely Joseph Alois Schumpeter, Alfred Marshall and Kenneth Arrow. The book introduces a comprehensive economic approach for the analysis of innovation processes and broadly encompasses all fields where innovation is of the utmost importance: knowledge generation, industrial innovation, trade and growth.’
– Andreas Pyka, University of Hohenheim, Germany

‘Professor Antonelli has clearly articulated the Schumpeterian view of endogenous innovation in this new undertaking. With that as a foundation, he has masterfully shown the reader the subtle and often overlooked relationships among knowledge, innovation, technological advancement and economic growth. This book is scholarship at its best. A must read for those at any stage of their intellectual journey.’
– Albert N. Link, University of North Carolina at Greensboro, US

Contents

Contents: PART I Endogeneous Innovation as a Creative Response. A Reappraisal of the Schumpeterian Legacy 1. Standing on Giants’ Shoulders 2. Innovation as a Creative Response 3. Towards an Evolutionary Complexity of Endogenous Innovation 4. Innovation as an Emergent System Property PART II New Frontiers in the Economics of Knowledge. The Appropriability Trade off Reconsidered 5. A Bird’s View of the Economics of Knowledge 6. The Derived Demand for Knowledge 7. The Knowledge Appropriability Trade-Off 8. Digital Knowledge Generation and the Appropriability Trade-Off 9. Knowledge Governance, Pecuniary Knowledge Externalities and Total Factor Productivity Growth 10. A New Framework of Innovation and Knowledge Policy PART III Endogenous Knowledge and Technological Congruence 11. Technological Congruence and the Economic Complexity of Technological Change 12. A Schumpeterian Approach to Endogenous Specialization in International Trade 13. Schumpeterian Growth: The Creative Response to Diachronic Knowledge Externalities 14. References Index