Potentials of game theory for analysis and improvement of innovation policy and practice in a dynamic socio-economic environment

Par Igor Dubina, Elias G. Carayannis
This paper addresses challenges, questions and problems of effective and efficient strategies of innovators, entrepreneurs and innovation policy makers in an environment with dynamic change, complexity, risk, and uncertainty. In this research, we use game theory principles, methodological approaches, and methods for theoretical analysis, and innovation games (living labs) as a tool for empirical analysis. Based on our research and our experience applying these approaches, we summarized and stated some policy recommendations that a game-theoretic approach turns up.
JEL Codes: C70, O31, O32, O38, M10
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