The knowledge multiplier

Mário Alexandre Patrício Martins da Silva

Economics of Innovation and New Technology, 2014, vol. 23, issue 7, 652-688

Abstract: The paper develops a formal model of external knowledge and identifies the role of knowledge multipliers. Social interactions and knowledge multipliers play a crucial role in determining the rate of technological change. The analytical identification of the knowledge multiplier expression constitutes a key step in the appreciation of the crucial role of knowledge interactions. First, social considerations endogenously change the knowledge production function of each firm. The knowledge multiplier is the specific mechanism by means of which external knowledge contributes to enhance the innovative capacity of each firm. The production function of knowledge shows that the larger the knowledge multiplier is the stronger are the cumulative positive effects of external knowledge on the generation of new knowledge. Second, social considerations explain the long-run dynamics of innovation. Social reinforcement and the knowledge multiplier determine the rise or fall in the rate of accumulation of technological knowledge.

Date: 2014
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DOI: 10.1080/10438599.2014.882138

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