Scandinavian Working Papers in Economics

Working Paper Series in Economics and Institutions of Innovation,
Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

No 165: Productivity of and Returns to Knowledge Investments

Åke E Andersson ()
Additional contact information
Åke E Andersson: CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology, Postal: CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology, SE-100 44 Stockholm, Sweden

Abstract: Information and knowledge are essential to the decision making of firms. However, information is a primitive in the formation of knowledge. Information and the related concepts of risk and surprise are primarily of importance for rational decision making while knowledge is a form of (non-material) capital to be used as a resource in the transformation of different inputs into valuable outputs. Knowledge can be embodied in educated labor, in material capital, as patented production recipes or as contents of publically available documents and other media. In the paper optimality aspects of the acquisition of knowledge capital is analyzed. Estimates of private and public returns to investments in knowledge are reported. Some economic consequences of frictions over time and space are analyzed and new models containing such frictions are proposed.

Keywords: productivity; growth; knowledge; R&D; returns to R&D; returns to knowledge

JEL-codes: O11; O31; O33

26 pages, January 28, 2009

Full text files

cesiswp165.pdf PDF-file 

Download statistics

Questions (including download problems) about the papers in this series should be directed to Vardan Hovsepyan ()
Report other problems with accessing this service to Sune Karlsson ().

This page generated on 2018-01-23 23:31:24.