Abstract Mainstream economics treats spillovers as a positive “externality,” a term introduced by Alfred Marshall (1890) to account for the extra value creation (or the opposite, negative externalities) that could not be explained within the theoretical framework of the standard (and static) economic (Walrasian) model. Marshall, being at the time the authority on the Walrasian model, was concerned about this deficiency of the received model of economics that was increasingly becoming the standard intake in graduate economics teaching among western universities. He wanted to internalize (“explain”) the spillovers, but without abandoning the standard model altogether and exposing himself to the wrath of his colleagues.


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    Title :

    Spillovers and Innovative Technology Supply: A Literature Survey


    Contributors:


    Edition :

    First


    Publication date :

    2010-01-01


    Size :

    18 pages





    Type of media :

    Article/Chapter (Book)


    Type of material :

    Electronic Resource


    Language :

    English