Understanding the Silicon Valley Phenomena

Masahiko Aoki and Hirokazu Takizawa

No DP2002-11, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper analyzes the 'Silicon Valley model' as a novel economic institution in the domain of technological product system innovation such as computers. We focus on the information structural relationship as well as governance relationships between venture capitalists and a cluster of entrepreneurial firms. The informational conditions under which the Silicon Valley model is efficient are identified, leading to understanding the significance of standardization of interfaces, modularization and information encapsulation.

Keywords: Business networks; Game theory; Producer cooperatives; Management (Technological innovations) (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:dp2002-11

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