Young, Restless and Creative: Openness to Disruption and Creative Innovations
Ufuk Akcigit,
Murat Celik and
Daron Acemoglu
No 377, 2014 Meeting Papers from Society for Economic Dynamics
Abstract:
This paper argues that openness to new, unconventional and disruptive ideas has a first-order impact on creative innovations---innovations that break new ground in terms of knowledge creation. After presenting a motivating model focusing on the choice between incremental and radical innovation, and on how managers of different ages and human capital are sorted across different types of firms, we provide cross-country, firm-level and patent-level evidence consistent with this pattern. Our measures of creative innovations proxy for innovation quality (average number of citations per patent) and creativity (fraction of superstar innovators, the likelihood of a very high number of citations, and generality of patents). Our main proxy for openness to disruption is manager age. This variable is based on the idea that only companies or societies open to such disruption will allow the young to rise up within the hierarchy. Using this proxy at the country, firm or patent level, we present robust evidence that openness to disruption is associated with more creative innovations.
Date: 2014
New Economics Papers: this item is included in nep-cse, nep-ino and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (55)
Downloads: (external link)
https://red-files-public.s3.amazonaws.com/meetpapers/2014/paper_377.pdf (application/pdf)
Related works:
Working Paper: Young, Restless and Creative: Openness to Disruption and Creative Innovations (2014)
Working Paper: Young, Restless and Creative: Openness to Disruption and Creative Innovations (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:red:sed014:377
Access Statistics for this paper
More papers in 2014 Meeting Papers from Society for Economic Dynamics Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Christian Zimmermann ().