The Innovation-Institution Connection: One Simple Diagram

9 Pages Posted: 27 Mar 2018

Date Written: March 27, 2018

Abstract

The purpose of this note is to introduce a simple diagram that I suggest provides an intuitive and useful way of looking at the connection between institutions and innovations, regardless of what level of institutions one is concerned with. The 'back-of-the-envelope' diagram focuses attention on the effects of a new idea on the existing ideas that some institution might represent, and the sort of innovated institution that it might help engender.

Keywords: Innovation, Institutions, Ideas

JEL Classification: O3, O17

Suggested Citation

Goorha, Prateek, The Innovation-Institution Connection: One Simple Diagram (March 27, 2018). Available at SSRN: https://ssrn.com/abstract=3150524 or http://dx.doi.org/10.2139/ssrn.3150524

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