| 1. |
- Braunerhjelm, Pontus, et al.
(author)
-
The inventor's role : was Schumpeter right?
- 2010
-
In: Journal of evolutionary economics. - : Springer Science and Business Media LLC. - 0936-9937 .- 1432-1386. ; 20:3, s. 413-444
-
Journal article (peer-reviewed)abstract
- According to Schumpeter, the creative process of economic development can be divided into the stages of invention, innovation (commercialization) and imitation. Each stage is associated with specific skills. This paper examines whether Schumpeter's assertion was correct, i.e. whether the invention and innovation stages should be undertaken by different agents. In addition, we examine whether there is a rationale for the Schumpeterian entrepreneur to include the inventor in the commercialization process. Combining the abilities of the entrepreneur and the inventor may serve to facilitate customer adaptation, strengthen knowledge transfers and reduce uncertainty, thereby expanding market opportunities. Based on a unique database covering Swedish patents granted to individuals and small firms, the empirical analysis shows that profitability increases by 22 percentage points when inventions are commercialized by the entrepreneur instead of by inventors. However, active involvement of the inventor is shown to have a significantly positive impact on profitability, irrespective of commercialization mode.
|
|
| 2. |
- Douhan, Robin, et al.
(author)
-
Entrepreneurship and second-best institutions : going beyond Baumol’s typology
- 2010
-
In: Journal of evolutionary economics. - : Springer. - 0936-9937 .- 1432-1386. ; 20:4, s. 629-643
-
Journal article (peer-reviewed)abstract
- This paper reconsiders the predominant typology pioneered by Baumol (J Polit Econ 98(5):893-921, 1990) among productive, unproductive and destructive entrepreneurship. It is shown that the foundation of Baumol's classification scheme is the restrictive concept of first-best outcomes, and therefore it easily fails to appreciate the true impact of entrepreneurship in real-world circumstances characterized by suboptimal institutions. We present an alternative way of generalizing the notion of entrepreneurship and show how and why it encompasses the Baumol typology as a special case. Our main distinction is between business and institutional entrepreneurship. We draw on Schumpeter and introduce the entrepreneur in an additional function: as a potential disturber of an institutional equilibrium. Various subsets of institutional entrepreneurship are posited and discussed. It is shown that changing the workings of institutions constitutes an important set of entrepreneurial profit opportunities. An implication of this is that entrepreneurial efforts to reform or offset inefficient institutions can, in many cases, be welfare-improving.
|
|
| 3. |
- Eliasson, Gunnar
(author)
-
Advanced purchasing, spillovers and innovative discovery
- 2011
-
In: Journal of evolutionary economics. - : Springer Science and Business Media LLC. - 0936-9937 .- 1432-1386. ; 21:1, s. 121-139
-
Journal article (peer-reviewed)abstract
- Advanced product development distinguishes itself by being surrounded by a "cloud of technology spillovers" available to external users in proportion to their competence to commercialize them. The local capacity to commercialize spillovers is experience based and hence more narrow than the range of innovations. The cloud will therefore be incompletely explored. While the value of the cloud to society may be greater than the development investment, the value captured by the producer is often not sufficient to make the product development privately profitable. The producer faces the property rights problem of how to charge for the dual product it develops, the product itself and as much as possible for the technology cloud. The public and private customers, however, appreciate the situation differently. While the former appears in the double customer role of being interested in both the product procured and the spillover benefits to society, the latter is not interested in paying for spillovers that only benefit society. Marketing the product, therefore, involves the ability to present a credible case for the economic value to society of the spillovers. To do that, a theory is needed that demonstrates both the user value to the customer, and the entrepreneurial capacity of the economy to commercialize the spillovers. The theoretical argument is illustrated with the case of downstream industrial business formation around Swedish military aircraft industry.
|
|
| 4. |
- Johansson, Dan, 1964-
(author)
-
The Theory of the Experimentally Organized Economy and Competence Blocs : An Introduction
- 2010
-
In: Journal of evolutionary economics. - : Springer. - 0936-9937 .- 1432-1386. ; 20:2, s. 185-201
-
Journal article (peer-reviewed)abstract
- This article presents the theory of the experimentally organized economy and competence blocs. The theory assumes that information is immense and that economic actors are boundedly rational. This makes practically all economic activities to some extent uncertain and unpredictable; they become experimental in nature. Economic growth is, hence, viewed as an evolutionary process of the discovery, use and selection of knowledge. So-called competence blocs—the minimum set of agents with different, but complementary competencies required to generate and commercialize new combinations—are identified as necessary for efficient resource allocation. The incentives given by the institutions to the actors in the competence bloc are crucial for economic performance.
|
|
