Management Theory and Studies for Rural Business and Infrastructure Development, Volume 36, Number 2

Institutional methodology and the instruments of the natural science for the development of the innovation theory

Evgeny Kolbachev


The grave shortcomings of the monetary valuation of the innovation processes and innovation projects are the general result of the money units’ instability. That’s why working out of the innovation valuation methodology, which methodology is based on the natural science approach, is an actual task, and also the objective of the work. Using the methods of the institutional economy, technological relations and functions theory and the technological orders conception, we worked out the original approach to the innovation projects’ development. The approach gives a possibility to minimize the possibility of the existence of the innovation processes participants’ opportunistic behavior, and to increase the efficiency of the innovation activities.

JEL kodes: O32, O33.

Keyword(s): innovation, institutional economy, methods of the natural science, оpportunism, research and development, technology adoption, technological orders

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Management Theory and Studies for Rural Business and Infrastructure Development eISSN 2345-0355

This journal is published under the terms of the Creative Commons Attribution-Noncommercial 3.0 Unported License. Responsible editor: Dr Audrius Gargasas.