Recent Developments in Advanced Innovation Economics (Vorlesung)

Exam Review (second period)

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If you want to inspect your exam, please register via the above link until December 01, 2023. You will receive further information on the exact time and room of the exam review on December 04, 2023 if you have registered for the exam review via ILIAS.

As a rough guide, we can already inform you that the exam inspection will take place on December 06, 2023 between 2- 4 p.m.

Module No. 5209-521

Time: Monday 12:00-14:00

Room:HS 8

Short description:

‘Innovation Economics II: Recent Developments in Advanced Innovation Economics’ introduces the master students into the most common methods of modern innovation economics. Due to the high degree of complexity of innovation processes, traditional tools from neoclassical economics quickly reach their limits or are inadequate for the considerations of the particularities of innovation. In innovation economics, the heterogeneity of actors is considered to be an important source for learning and innovation. The concept of a representative firm which optimizes its profits is not suited because of the Knightian uncertainty prevailing all innovation processes. Innovations trigger dynamic processes of entrepreneurship and structural change. The concept of economic equilibrium most often is not suited for the analysis of Schumpeterian competition. For this reason, in innovation economics new tools were developed which allow dealing with heterogeneity, imperfect knowledge, non-linearities, and dynamics. In this course, we will introduce to simulation tools like agent-based models and social network analysis which fulfil, to some extent, the methodological requirements from innovation economics.

Contents:

I. The methodological requirements of modern innovation economics

II. Comprehensive Neo-Schumpeterian Economics

III. Indicator Based Modelling

IV. Simulation Models I: System Dynamics

V. Simulation Models II: Agent-based Models

VI. Responsible Innovation

VII. Social Network Analysis

Literature:

Blok, V. and Lemmens, P. (2015). The emerging concept of responsible innovation. Three reasons why it is questionable and calls for a radical transformation of the concept of innovation. In B.-J. Koops, I. Oosterlaken, H. Romijn, T. Swierstra, & J. van den Hoven (Eds.), Responsible innovation 2: Concepts, approaches, and applications (pp. 19-35). Cham: Springer.

Buchmann, T. and Pyka, A. (2012). Innovation networks. In M. Dietrich & J. Krafft (Eds.), Economics and theory of the firm (pp. 466-484). Cheltenham: Edward Elgar.

Fritsch, M. and Kauffeld-Monz, M. (2008). The impact of network structure on knowledge transfer: An application of social network analysis in the context of regional innovation networks. The Annals of Regional Science, 44, 21-38.

Hanusch, H. and Pyka, A. (2007), The Principles of Neo-Schumpeterian Economics. Cambridge Journal of Economics, 31(2), 275-289.

Macal, C. M. (2016). Everything you need to know about agent-based modelling and simulation. Journal of Simulation, 10(2), 144-156.Saviotti, P. P. and Pyka, A. (2004). Economic development by the creation of new sectors. Journal of Evolutionary Economics, 14(1), 1-35.

Stilgoe, J., Owen, R., and Macnaghten, P. (2013). Developing a framework for responsible innovation. Research Policy, 42(9), 1568-1580.

von Schomberg, R. (2013). A vision of responsible research and innovation. In: R. Owen, J. Bessant, & M. Heintz (Eds.), Responsible innovation: Managing the responsible emergence of science and innovation in society (pp. 51-74). Chichester: Wiley.

Further (recommended but not mandatory) literature on Topics VI & VII is provided on the slides.