{"title":"Economic Complexity and the Emergence of New Ideas","authors":"A. Bishop, A. Dobre, J. Mateos-Garcia","doi":"10.2139/ssrn.3242960","DOIUrl":"https://doi.org/10.2139/ssrn.3242960","url":null,"abstract":"Recent research has shown a strong link between the economic complexity of a country and important economic indicators such as GDP per capita and lower inequality. However, the mechanisms underpinning this relationship remain poorly understood. While it is often argued that complex ecosystems provide a fertile ground for novel combinations of ideas leading to the emergence of impactful new technologies and industries, this process is hard to measure with aggregate data structured around industrial codes offering a lagging view of the economy. We seek to overcome this challenge by combining official data about industrial activity in UK Local Authority Districts (LADs) with a novel dataset containing the content and meta-data from almost a million UK business websites. We measure economic complexity using ECI and a Fitness based measure, which respectively capture a location’s specialization in unique, knowledge intensive sectors, and a weighted measure of economic diversity. We use a complex networks approach to topic modelling to detect ‘topics’ in the websites of businesses and analyse their relation to economic complexity and industrial sectors before going on to measure emergence by looking for novel words in the websites of businesses in different locations and sectors. We show that LADs with high ECI scores have a stronger share of companies active in emerging technologies, even after we control for their industrial composition. Further, and contrary to our initial expectations, emergent companies are more industrially diversified in locations with high ECI scores than locations with high Fitness scores. One potential reason is that the innovative sectors that high ECI locations specialize on are lead adopters of emerging technologies that are subsequently diffused into other parts of the local economy.","PeriodicalId":352889,"journal":{"name":"IRPN: Other Economics of Innovation (Topic)","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124438751","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A New Taxonomy of Technologies","authors":"M. Coccia","doi":"10.2139/ssrn.3078000","DOIUrl":"https://doi.org/10.2139/ssrn.3078000","url":null,"abstract":"This study here suggests a classification of technologies based on taxonomic characteristics of interaction between technologies in complex systems that is not a studied research field in economics of technical change. The proposed taxonomy here categorizes technologies in four typologies, in a broad analogy with the ecology: 1) technological parasitism is a relationship between two technologies T1 and T2 in a complex system S where one technology T1 benefits from the interaction with T2, whereas T2 has a negative side from interaction with T1; 2) technological commensalism is a relationship between two technologies in S where one technology benefits from the other without affecting it; 3) technological mutualism is a relationship in which each technology benefits from the activity of the other within complex systems; 4) technological symbiosis is a long-term interaction between two (or more) technologies that evolve together in complex systems. This taxonomy systematizes the typologies of interactive technologies within complex systems and predicts their evolutionary pathways that generate stepwise coevolutionary processes of complex systems of technology. This study here begins the process of generalizing, as far as possible, critical typologies of interactive technologies that explain the long-run evolution of technology. The theoretical framework developed here opens the black box of the interaction between technologies that affects, with different types of technologies, the evolutionary pathways of complex systems of technology over time and space. Overall, then, this new theoretical framework may be useful for bringing a new perspective to categorize the gradient of benefit to technologies from interaction with other technologies that can be a ground work for development of more sophisticated concepts to clarify technological and economic change in human society.","PeriodicalId":352889,"journal":{"name":"IRPN: Other Economics of Innovation (Topic)","volume":"172 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116154026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"H/Rindex: The Hashing Power and Robustness Index, Computational Power-weighted Benchmark for Global Blockchain and Crypto Market","authors":"Husam Abboud","doi":"10.2139/ssrn.3136635","DOIUrl":"https://doi.org/10.2139/ssrn.3136635","url":null,"abstract":"Cryptocurrencies have grown exponentially and gained increasing attention in recent years, and while it’s true that it’s secure by design, “Security” remains the cornerstone of any and all cryptoassets. \u0000To benchmark the global cryptocurrencies market from a security perspective, track current and historical market performance we construct the H/Rindex; a crypto hashing-weighted average, computed from the prices of selected cryptocurrencies and weighted by hashing-power of the constituents, a tool to be used by participants of crypto market that wish to gain exposure, trade risk for profit and by observers who wish to describe the market and its security characteristics: \u00001. The Hindex (Hashingrate index) Crypto Computational Power Average: is a cryptocurrencies computational power weighted index and \u00002. The Rindex (Robustness index) Crypto Robustness Index: is a cryptocurrencies robustness and 51% attack resistance-weighted Index.","PeriodicalId":352889,"journal":{"name":"IRPN: Other Economics of Innovation (Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121353571","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Source and Nature of General Purpose Technologies for Supporting Next K-Waves: Global Leadership and the Case Study of the U.S. Navy's Mobile User Objective System","authors":"M. Coccia","doi":"10.1016/J.TECHFORE.2016.05.019","DOIUrl":"https://doi.org/10.1016/J.TECHFORE.2016.05.019","url":null,"abstract":"","PeriodicalId":352889,"journal":{"name":"IRPN: Other Economics of Innovation (Topic)","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"118328480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Social and Business Innovations: Are Common Measurement Approaches Possible?","authors":"Attila Havas","doi":"10.17323/1995-459X.2016.2.58.80","DOIUrl":"https://doi.org/10.17323/1995-459X.2016.2.58.80","url":null,"abstract":"This article reviews various approaches to measuring business innovation with the aim of drawing lessons for measuring social innovations, and offers several methodological and policy conclusions. First, Innovation Union Scoreboard (IUS) indicators, in principle, could be useful in settings where the dominant mode of innovation is based on RD their essence, however, tends to be organizational, managerial, and behavioural changes. The IUS indicators do not capture these types of changes. Second, an assessment of the 81 indicators used to compile the Global Innovation Index reveals that it would not be fruitful to rely on such indicators to capture social innovations. Third, given the diversity among innovation systems, a poor performance signalled by a composite indicator does not automatically identify the area(s) necessitating the most urgent policy actions; only tailored, thorough comparative analyses can do so. Finally, analysts and policy makers need to be aware of the differences between measuring (i) social innovation activities (or efforts); (ii) the framework for social innovations (pre-requisites, available inputs, skills, norms, values, behavioural patterns, etc.); and (iii) the economic, societal, and environmental impacts of social innovations.","PeriodicalId":352889,"journal":{"name":"IRPN: Other Economics of Innovation (Topic)","volume":"223 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131547042","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
D. Cumming, Shan Ji, Rejo Peter, Monika Tarsalewska
{"title":"Market Manipulation and Innovation","authors":"D. Cumming, Shan Ji, Rejo Peter, Monika Tarsalewska","doi":"10.2139/ssrn.2752236","DOIUrl":"https://doi.org/10.2139/ssrn.2752236","url":null,"abstract":"We study the impact of suspected market manipulation, including end-of-day manipulation and insider trading around information leakage events, on patents based on a sample of 9 countries spanning the years 2003-2010. The data indicate that end-of-day dislocation mitigates the number of patents and citations received, due to the associated short-termism of the firm’s orientation, long-term harm to a firm’s equity values, and commensurate reduced incentives for employees to innovate. Unlike prior literature that shows a negative relation between patenting and liquidity in the U.S. in an earlier time period, we observe a robust and significantly positive effect of liquidity on patenting in the U.S. and across the 9 countries in our sample over each of the 8 years studied. The positive effect of liquidity on innovation, however, is mitigated by the harmful presence of end-of-day dislocation. The data also confirm the importance of country-level factors such as intellectual property rights across countries that encourage patenting. Our findings are robust to numerous robustness checks on subsamples of the data, propensity score matching analyses, difference-in-differences tests for firms with and without dislocation, among other things.","PeriodicalId":352889,"journal":{"name":"IRPN: Other Economics of Innovation (Topic)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125858787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}