COWLES FOUNDATION FOR RESEARCH IN
ECONOMICS Box 208281
COWLES FOUNDATION DISCUSSION PAPER NO. 1674 Innovation and Equilibrium? Martin Shubik September 2008 A discussion is given of the problems involved in the formal modeling
of the innovation process. The link between innovation and finance is stressed. The nature
of how the circular flow of funds is broken and the role of finance in evaluation and
control is discussed. |
