The ongoing process of revision and rethinking of the foundations of economic theory leads to great complexities and contradictions at the heart of economics. The Economics of Innovation provides a challenge to standard economics and one that can help it overcome its many criticisms. This title provides a systematic account of advances in the economics of innovation. By integrating this account with the economics of technological change, the book elaborates an understanding of the effects of the introduction of new technologies.

This volume seeks to understand technology infrastructure as an element of a sector's technology platform and of a national innovation system. It also examines the processes by which such infrastructure is embodied in standards or diffused through various institutional frameworks.