Modelling of Knowledge, Capital Formation, and Innovation Behaviour within Micro-Based Profit Oriented and Correlated Decision Processes

Günter Haag and Philipp Liedl
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Günter Haag: Applied Systems Analysis
Philipp Liedl: Applied Systems Analysis

Chapter 13 in Knowledge, Complexity and Innovation Systems, 2001, pp 251-274 from Springer

Abstract: Abstract In the neoclassical theory of economic growth, innovations are viewed as being exogenous. Technological progress is treated as a shift parameter in production functions. This view cannot however explain the causes of technical progress, and is unsuited to the study of the impact of a varying rate of technical change (Jungmittag, Blind and Grupp 1999). Furthermore it does not consider interactions between firms using different technologies. The assumption of economic equilibrium in the neoclassical approach is inconsistent with Schumpeter’s concept of the creative entrepreneur (Schumpeter 1934) because, once equilibrium is reached, no agent of the economic system can leave, due to optimal decisionmaking. Technological spillover effects are interpreted as having a negative effect on the market, because the spread a new technology decreases the incentive to invest in R&D.

Keywords: Labour Force; Market Share; Capital Stock; Scientific System; Spillover Effect (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1007/978-3-662-04546-6_13

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