Scientific ideas and innovative behavior

Albert Link

Chapter 56 in Elgar Encyclopedia on the Economics of Knowledge and Innovation, 2022, pp 445-451 from Edward Elgar Publishing

Abstract: A common paradigm in the technology and innovation literature is one that associates levels of investment in R&D with innovative behavior and economic progress and growth. However, this paradigm implicitly assumes that when increased investments in R&D result from public sector technology-based initiative then the recipient firms or public sector agencies will allocate those funds to creative new projects as opposed to more-of-the-same projects. For the allocation new R&D resources to be more effective in generating new technologies and enhanced innovative behavior, an understanding of the genesis of new scientific ideas is paramount. However, there is only a limited body of literature on the nexus between scientific ideas and innovative behavior, and this paper characterizes that literature and offers a solution for better informed technology policies.

Keywords: Business and Management; Economics and Finance; Innovations and Technology (search for similar items in EconPapers)
Date: 2022
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