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An information economics perspective on innovation

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Introduces the information theoretic or economics of information approach, shows how this relates to innovation and illustrates an example of an information economics model of innovation. Attempts to demonstrate that an information economics perspective, both generally and in the context of a simple model, improves understanding of and provides new insights into innovation, compared to a more conventional economic approach.
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Keywords: Economics; Information; Innovation; R&d; Technology

Document Type: Research Article

Publication date: February 1, 1998

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