Essays on the role of knowledge, R&D, and Technology-based firms in the evolution of socio-techno-economic system

Emergence of new industries not only serves as the engine of economic growth but also creates challenges for the survival and growth of many existing industries. Accordingly, predicting the emergence of new industries and transformational changes in the structure of industrial system is an important problem from the perspective of public policy as well as business strategy. This dissertation argues that the hype about technological change since 1990s concerns the fruits of inventions related to the information and communication technologies (ICTs) during 1960s and 70s. This research suggests that the rate of growth of inventions in these technology domains has been declining since the start of 2000s. This means that the opportunities for radical (highly novel and valuable) technological opportunities in these domains have probably been exhausted to a large extent and, therefore, the inventive activity (R&D) is increasingly focusing on exploring technological opportunities in other (perhaps new) technology areas. This may also be the sign of the beginning of a new wave of transformative technological change.