Economics has not given sufficient attention to the microeconomic analysis of innovation and technological change. Counteracting this imbalance, The Microeconomics of Product Innovation considers how the use of economic analysis can guide and inform the search for insight in the generation and adoption of new products synonymously labelled product innovation. Written in an accessible tone and restricting its analysis to the use of microeconomics, this book encompasses the definition of product innovation. It explores means of measurement and revealed patterns of the extent of product innovation; the economic analysis of the forces driving the demand for, the supply of, and incentives to generate new products; empirical evidence upon the determinants of the extent of product innovation; the diffusion of product innovations; product innovation and firm performance; price measurement under product innovation; product innovation and welfare; and public policy and product innovation.

Originally published in 1993 this book presents the findings of 14 teams involved in a research initiative to examine the initiation and resonse to innovation in firms. It draws together the many strands which were discovered to influence the successful generation and adoption of new technologies. The core issues in technology management are looked at, including skills and expertise, markets and marketing, finance and the issue of technology collaboration both on a domestic and international basis. Technology is shown to be at the very heart of corporate strategy and policy formation.

New forms of organisation and market behaviour are emerging to replace and reshape older forms. This has produced great uncertainty in industrial organization theory. The purpose of this volume is to review and present some of the new approaches developed in industrial organization. The material is organised into four sections: recent approaches to Industrial Organisation, the behaviour of individual firms and the characteristics of industrial systems as a whole, new theories of the firm and market structure and technical progress and market structure - some special issues.

Much of the existing economic literature on innovation has taken a particularly functional viewpoint as to what innovation might be. This book explores 'soft innovation', found in the creative industries such as publishing, film-making, advertising, and architecture, which has been, hitherto, ignored in innovation studies.

An analysis of market response to technological performance