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Location and Innovation Optimism: a Behavioral-Experimental Approach

A. Alventosa (), Y. Gómez (), V. Martínez-Molés () and J. Vila ()
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A. Alventosa: University of Valencia
Y. Gómez: University of Valencia
V. Martínez-Molés: University of Valencia
J. Vila: University of Valencia

Journal of the Knowledge Economy, 2016, vol. 7, issue 4, 890-904

Abstract: Abstract Using a behavioral-experimental economics approach, this paper shows that the location of a potential innovator has an impact on her or his innovation attitude, specifically on her or his innovation optimism. Moreover, such an impact is a consequence of the way in which they can access the information about the chances of succeeding if they initiate an innovation process. Isolated innovators can learn about their success chances from external objective sources, such as market research companies or public institutions. On the other hand, when the potential innovator is located in an innovation cluster, she or he has the chance to observe innovation performance and share the experience of innovation. This work provides empirical evidence to support that innovation attitudes are significantly different in both types of location: while isolated innovators exhibit innovation pessimisms, members of innovation clusters tend to be optimistic as respect to their success chances in the innovation process.

Keywords: Innovation; Location; Innovation optimism; Behavioral-experimental economics; Rank-dependent utility (search for similar items in EconPapers)
Date: 2016
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