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Management and Economics of Innovation - 5 ECTS - HYBRID

Date and time

Monday 18 September 2023 at 09:00 to Friday 29 September 2023 at 16:00

Registration Deadline

Friday 15 September 2023 at 23:55


Hybrid - online / Kilen, room KL2.53 (second floor) , Kilevej 14A, 2000 Frederiksberg Hybrid - online / Kilen, room KL2.53 (second floor)
Kilevej 14A
2000 Frederiksberg

Management and Economics of Innovation - 5 ECTS - HYBRID

Christoph Grimpe, Department of Strategy and Innovation, CBS


Assistant Professor Julia Bodner (JB)
Department of Strategy and Innovation, CBS

Professor with special responsibilities Carmelo Cennamo (CC)
Department of Strategy and Innovation, CBS

Professor with special responsibilities Kristina Dahlin (KD)
Department of Strategy and Innovation, CBS

Professor Christoph Grimpe (CG)
Department of Strategy and Innovation, CBS

Professor Karin Hoisl (KH)
Department of Strategy and Innovation, CBS

Assistant Professor Paul Hünermund (PH)
Department of Strategy and Innovation, CBS

Professor Keld Laursen (KL)
Department of Strategy and Innovation, CBS

Associate Professor Marion Pötz (MP)
Department of Strategy and Innovation, CBS

Professor Thomas Rønde (TR)
Department of Strategy and Innovation, CBS

Associate Professor Valentina Tartari (VT)
Department of Strategy and Innovation, CBS



Basic knowledge of theories related to economics, management, technology, innovation, and organizations. It is a requirement for receiving the course diploma that the students attend the entire course.


Duration: 10 sessions with 3 hours each


Aim of the course

The course aims to provide a set of advanced insights into the field of Management and Economics of Innovation spanning from foundational themes to the most recent developments of the field.


Course content

Both the competitiveness of firms and welfare in general depend on the ability to introduce innovative products, processes and services. Interest in management of innovation has traditionally centered on firm-internal aspects of processes such as, for instance, how collaboration and interaction among specialized professionals take place in the creation of innovation; how to deal with unavoidable uncertainty involved; and the path dependency in skills and resources.

In recent years, there has been a surge in interest among scholars and practitioners in methods that allow the firm systematically to source its inputs externally. Innovation that originates from sources external to the firm has emerged as an important phenomenon and has been associated with labels such as open innovation, user innovation, crowd sourcing, and open source. 

These trends have also given rise to novel and so far immature research agendas that promise to enhance our understanding of the processes and sources of innovation in the years to come. With respect to the economics of innovation, the course will cover modern economic theories related to innovation and intellectual property rights. In that regard, the course will particularly cover licensing on markets for technology as well as networks and network effects.


Learning objectives

·       To acquire an understanding and overview of topics in the management and economics of innovation

·       To be able to demonstrate knowledge of relevant theories by explaining their assumptions, causal dynamics and processes

·       To be able to demonstrate knowledge of the conceptual foundations, frameworks and methods relevant to the study of innovation management and economics


Teaching methods and assessment

The course will be offered in a hybrid mode, i.e. participation will be possible both at CBS and online on Zoom.

The exam is an online 4-hour written exam (open book). The exam takes place on October 9, 2023, 9:00-13:00.


Session 1: Introduction to the management of innovation (CG)


·       Anderson, P., & Tushman, M. L. 1990. Technological discontinuities and dominant designs: A cyclical model of technological change. Administrative Science Quarterly, 35 (4): 604-633.

·       Dosi, G. 1982. Technological Paradigms and Technological Trajectories: A Suggested Interpretation of the Determinants and Directions of Technical Change. Research Policy, 11: 147-162.

·       Henderson, R., & Clark, K. B. 1990. Architectural innovation: The reconfiguration of existing product technologies and the failure of established firms. Administrative Science Quarterly, 35 (1): 9-30.

·       Pavitt, K. L. R. 1984. Sectoral patterns of technical change: towards a taxonomy and a theory. Research Policy, 13 (6): 343-373.


Session 2: Introduction to the economics of innovation (THR)


·       Scotchmer, S. 2004. Innovation and Incentives, Cambridge, Massachusetts: MIT Press, chapters 2, 4 and 6.

·       Choi, J. P. 2002. A Dynamic Analysis of Licensing: The ‘‘Boomerang'’ Effect and Grant-Back Clauses, International Economic Review, 43: 1468-2354.

·       Laursen, K., S. Moreira, T. Reichstein, and M. I. Leone. 2017. Evading the Boomerang Effect: Using the Grant-Back Clause to Further Generative Appropriability from Technology Licensing Deals. Organization Science, 28: 514-530.


Session 3: Open approaches to innovation (MP)


·       Dahlander, L., Gann, D.M. 2010. How open is innovation? Research Policy, 39(6): 699-709.

·       Felin, T., Zenger, R.R. 2014. Closed or open innovation? Problem solving and the governance choice. Research Policy, 43: 914-925.

·       Gambardella, A., Raasch, C., von Hippel, E. 2016. The user innovation paradigm: impacts on markets and welfare. Management Science, 63(5): 1450-1468.

·       Laursen, K., Salter, A. J. 2006. Open for Innovation: The role of openness in explaining innovative performance among UK manufacturing firms. Strategic Management Journal, 27(2): 131-150.


Session 4: Networks, collaboration and alliances (KL)


·       Teece, D.J. 1986. Profiting from technological innovation: Implications for integration, collaboration, licensing, and public policy. Research Policy 15: 285-305.

·       Mowery, D., Oxley, J., Silverman, B. 1996. Strategic Alliances and Interfirm Knowledge Transfers. Strategic Management Journal, 17 (Winter 96 special issue): 77-91.

·       Ahuja, G. 2000. Collaboration networks, structural holes and innovation: a longitudinal study, Administrative Science Quarterly, 45 (3): 425-455.

·       Tortoriello, M. 2015. The social underpinnings of absorptive capacity: The moderating effects of structural holes on innovation generation based on external knowledge. Strategic Management Journal, 36(4): 586-597.

Background literature:

·       Cohen, W. M., & Levinthal, D. A. 1990. Absorptive capacity: A new perspective of learning and innovation. Administrative Science Quarterly, 35(1): 128-152.


Session 5: Platform-based innovation and innovation ecosystems (CC)


·       Rochet J-C, Tirole J. 2006. Two-sided markets: A progress report. Rand Journal of Economics 37: 645-667

·       Cennamo C., Santaló J. 2013. Platform Competition: Strategic Tradeoffs in Platform Markets, Strategic Management Journal, 34: 1331–1350

·       Adner, R., & Kapoor, R. (2010). Value creation in innovation ecosystems: How the structure of technological interdependence affects firm performance in new technology generations. Strategic Management Journal, 31(3), 306–333.

·       Jacobides M, Cennamo C, Gawer A (2018) Toward a theory of ecosystems. Strategic Management Journal. 39(8): 2255–2276.


Session 6: Appropriability and innovation strategy (KH)


·       Cohen, W. M., Nelson, R., & Walsh, J. P. (2000). Protecting their intellectual assets: Appropriability conditions and why US manufacturing firms patent (or not), NBER Working Paper No. 7552.

·       Teece, D. (1986). Profiting from technological innovation: implications for integration, collaboration, licensing, and public policy. Research Policy, 15 (6): 285-305


Session 7: University-industry linkages (VT)


·       Pavitt, K. 1991. What Makes Basic Research Economically Useful? Research Policy, 20: 109-119.

·       Jaffe, A. 1989. Real Effects of Academic Research. American Economic Review, 79(5): 957-970.

·       Agrawal, A., & Henderson, R. 2002. Putting Patents in Context: Exploring Knowledge Transfer from MIT. Management Science, 48(1), 44-60.

·       Bercovitz, J., Feldman, M. 2008. Academic Entrepreneurs: Organizational Change at the Individual Level, Organization Science, 19(1): 69-89.

Background literature:

·       Stephan, P. 1996. The Economics of Science, Journal of Economic Literature, 34(3): 1199-1235.

·       Aghion, P., Dewatripont, M., Stein, J.C. 2008. Academic Freedom, Private-Sector Focus, and the Process of Innovation, The RAND Journal of Economics, 39(3): 617-635.


Session 8: Science, technology, and innovation policy evaluation (PH)


·       Hünermund, P., Czarnitzki, D. (2019). Innovation Policy and Causality. ifo DICE Report 4 / 2019 (Winter): Innovation Policy, 3–6.

·       Czarnitzki, D., Hünermund, P., and Moshgbar, N. (2020). Public Procurement of Innovation: Evidence from a German Legislative Reform. International Journal of Industrial Organization 71.

·       Einiö, E. (2014). R&D subsidies and company performance: evidence from geographic variation in government funding based on the ERDF population-density rule. Review of Economics and Statistics, 96(4): 710–728.

·       Dechezleprêtre, A., Einiö, E., Martin, R. Nguyen, K., and Van Reenen, J. (2023). Do Tax Incentives Increase Firm Innovation? An RD Design for R&D, Patents, and Spillovers. American Economic Journal: Economic Policy, forthcoming.


Session 9: Organizational learning (KD)


·       Brauer, M., Mammen, J., & Luger, J. (2017). Sell-offs and firm performance: A matter of experience? Journal of Management, 43(5), 1359-1387.

·       Madsen, P. M., & Desai, V. (2010). Failing to learn? The effects of failure and success on organizational learning in the global orbital launch vehicle industry. Academy of Management Journal, 53(3), 451-476.

·       Posen, H. E., & Levinthal, D. A. (2012). Chasing a moving target: Exploitation and exploration in dynamic environments. Management Science, 58(3), 587-601.

·       Zollo, M. (2009). Superstitious learning with rare strategic decisions: Theory and evidence from corporate acquisitions. Organization Science, 20(5), 894-908.


Session 10: Employee mobility (JB)


·       Choudhury, P. (2022). Geographic Mobility, Immobility, and Geographic Flexibility–A Review and Agenda for Research on the Changing Geography of Work. Academy of Management Annals, 16(1), 258-296.

·       Kacperczyk, A., & Balachandran, C. (2018). Vertical and horizontal wage dispersion and mobility outcomes: Evidence from the Swedish microdata. Organization Science, 29(1), 17-38.

·       Groysberg, B., Lee, L. E., & Nanda, A. (2008). Can they take it with them? The portability of star knowledge workers' performance. Management Science, 54(7), 1213-1230.

·       Stadler, C., Helfat, C. E., & Verona, G. (2022). Transferring knowledge by transferring individuals: Innovative technology use and organizational performance in multiunit firms. Organization Science, 33(1), 253-274.


Course schedule












Introduction to the management of innovation






Introduction to the economics of innovation






Organizational learning






Networks, collaboration and alliances






University-industry linkages






Appropriability and innovation strategy






Platform-based innovation and innovation ecosystems






Employee mobility






Science, technology, and innovation policy evaluation






Open approaches to innovation



Note: In case we receive more registrations for the course than we have seats, CBS PhD students will have first priority. Remaining seats will be filled on a first come first serve. 

Select payment methods:
CBS students: Choose CBS PhD students and the course fee will be deducted from your PhD budget.
Students from other Danish universities: Choose Danish Electronic Invoice (EAN). Fill in your EAN number, attention and possible purchase (project) order number. Do you not pay by EAN number please choose Invoice to pay via electronic bank payment (+71). 
Students from foreign universities: Choose Payment Card. Are you not able to pay by credit card please choose Invoice International to pay via bank transfer. 
Please note that your registration is binding after the registration deadline.

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Organizer Contact Information

CBS PhD School
Nina Iversen

Phone: +45 3815 2475

Organizer Contact Information

CBS PhD School
Nina Iversen

Phone: +45 3815 2475