Heuristics and the microeconomics of innovation and development

Srinivas, Smita (2021). Heuristics and the microeconomics of innovation and development. Innovation and Development, 11(2-3) pp. 281–302.

DOI: https://doi.org/10.1080/2157930x.2021.1986894

Abstract

Researchers have long recognized multiple ways of innovating. However, the expositions fail to connect the microeconomics of production sets to the real-world institutional variety required to build technological capabilities and innovate. This paper argues for explicit attention to institutional variety in the heuristics used in innovation policy and practice, and analyses three such heuristics. While some types of social challenges can be addressed through formal science and industrial R&D, the most common proxies for innovation, most industrializing contexts will require changes in institutions and organizations to frame and solve local development problems. The analysis thus bridges the traditional microeconomics of production sets with innovation and development priorities.

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About

• Item ORO ID
• 79798
• Item Type
• Journal Item
• ISSN
• 2157-9318
• Project Funding Details

• Funded Project Name	Project ID	Funding Body
  Innovation for Cancer Care in Africa (ICCA) project	ES/S000658/ 1	Economic and Social Research Council (ESRC)

• Keywords
• Innovation; technological change; economics; development; policy
• Academic Unit or School
• Faculty of Arts and Social Sciences (FASS) > Social Sciences and Global Studies > Economics
  Faculty of Arts and Social Sciences (FASS) > Social Sciences and Global Studies
  Faculty of Arts and Social Sciences (FASS)
• Research Group
• Global Challenges and Social Justice
• Copyright Holders
• © 2021 Smita Srinivas
• SWORD Depositor
• Jisc Publications-Router
• Depositing User
• Jisc Publications-Router