Technological Change and Innovation Behaviour

During the past decades a considerable body of knowledge has been developed in the study of technological change, and much of it is being used by policy makers in the public and private spheres. While it is true to say that we now understand a great deal more about technological change processes at the micro- and the macro-level, it nevertheless remains true that there is currently no satisfactory general theory of technological innovation. Despite the progress which has been made, the gaps in knowledge are still great. The economics of technological change though rapidly growing is still at the stage where many basic facts and theories or conceptual models are missing.