Academic journal article NBER Reporter

Rate and Direction of Inventive Activity

Academic journal article NBER Reporter

Rate and Direction of Inventive Activity

Article excerpt

Members of the NBER's Working Group on Innovation Policy and the Economy organized a conference in honor of the fiftieth anniversary of the publication of The Rate and Direction of Inventive Activity, a 1962 NBER volume containing several landmark papers in the economics of technological change. NBER Research Associates Josh Lerner of Harvard Business School and Scott Stern of the Sloan School of Management organized the program, which took place at the Aerlie Conference Center in Virginia on September 30-October 2, 2010. These papers were discussed:

* Timothy F. Bresnahan, Stanford University and NBER; Shane Greenstein, Northwestern University and NBER; and Rebecca Henderson, Harvard University and NBER, "Schumpeterian Competition and Diseconomies of Scope; Illustrations from the Histories of Microsoft and IBM"

* Carl Shapiro, University of California at Berkeley, "Competition and Innovation: Did Arrow Hit the Bull's Eye?"

* Josh Lerner and Peter Tufano, Harvard Business School and NBER, "The Consequences of Financial Innovation: A Counterfactual Research Agenda"

* Alexander J. Field, Santa Clara University, "The Adversity/Hysteresis Effect: Depression Era Productivity Growth in the U.S. Railroad Sector"

* Timothy F. Bresnahan, "Generality, Recombination, and Re-Use"

* Joshua Gans, University of Melbourne; and Fiona E. Murray, MIT, "Funding Conditions, the Public-Private Portfolio, and the Disclosure of Scientific Knowledge"

* Ralf R. …

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