The Economics of Innovation, New Technologies

This authoritative book fromCristiano Antonelliprovides a systematic account of recent advances in the economics of innovation. By integrating this account with the economics of technological change, the book elaborates an understanding of the effects of the introduction of new technologies. The innovation economics community will appreciate this excellent, comprehensive account, provided by a respected expert, and it is also a book that must be read by all those with an interest in Economic Theory.

Cristiano Antonelli is Professor of Economics at the University of Turin, Italy.

List of figures

viii

Foreword

ix

Acknowledgments

xi

Introduction

xiii

PART I The building blocks

1

(46)

Shifting heuristics in the economics of innovation

3

(35)

Introduction

3

(1)

The discovery of the residual: the origins of the economics of innovation

4

(2)

Manna, mines and technological opportunities

6

(3)

Biological grafts: epidemics and life cycles

9

(3)

Trajectories and technological paths

12

(6)

Collective knowledge and networks

18

(6)

Dangerous currents

24

(1)

The governance of knowledge commons

25

(8)

Innovation, technological change and economic structure: a systemic view

33

(2)

Conclusions

35

(3)

The retrieval of the economics of technological change

38

(9)

Introduction

38

(1)

The rate and direction of technological change

38

(5)

The models of induced technological change

43

(2)

Conclusions

45

(2)

PART II Innovation and structural change

47

(84)

Composition effects: the direction of technological change and the context of its introduction

49

(15)

Introduction

49

(1)

Composition effects

49

(1)

Relative factors prices, the direction of technological change and productivity growth

50

(9)

Relative factors prices and average production costs

59

(2)

Conclusions

61

(3)

New technologies and structural change: constraints and inducements to innovation

64

(17)

Introduction

64

(1)

The localized generation of general and contingent technologies

64

(6)

A model of localized inducement of the rate and the direction of technological change

70

(9)

Conclusions

79

(2)

Industrial dynamics and technological change

81

(13)

Introduction

81

(1)

The horizontal effects of technological change

81

(3)

The vertical effects of technological change: the key industries

84

(2)

The vertical effects of technological change and industrial dynamics: diffusion and adaptation

86

(4)

Schumpeterian growth cycles

90

(2)

Conclusions

92

(2)

The dynamics of factors markets and technological change

94

(13)

Introduction

94

(1)

Contingent technologies and the relative price for basic inputs

94

(3)

Biased technological change and kinked derived demand

97

(4)

Technological variety and regional integration

101

(4)

Conclusions

105

(2)

Product innovation and barriers to entry

107

(11)

Introduction

107

(1)

Barriers to entry and monopolistic competition

108

(3)

Niche-pricing: a simple analytical exposition

111

(5)

Conclusions

116

(2)

Relative prices and international competition in the global economy

118

(9)

Introduction

118

(1)

The effects of the introduction of general technologies

119

(1)

The effects of contingent technologies

120

(1)

The conditions for symmetric advantages from trade

121

(2)

Conditional convergence

123

(3)

Conclusions

126

(1)

Feedbacks, path-dependence and evolution

127

(4)

PART III Applications and implications

131

(36)

Understanding the economics of new information and communication technology in the global economy

133

(12)

Policy implications: a European perspective

145

(6)

Conclusions

151

(16)

Notes

167

(5)

Bibliography

172

(13)

Index

185

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The Economics of Innovation, New Technologies and Structural Change

Summary

Author Biography

Table of Contents

Supplemental Materials