Abstract：Scientific and technological innovation is the key to the upgrading of industrial technological structure.In the fierce international competition, only the innovator can get progress，strength and advantage.China's innovation paradigm is in the transitional stage from innovation system to innovation ecosystem.We should pay more attention to market psychological analysis, to guiding social expectations，to strengthening the protection of property rights and intellectual property rights and pay more emphasis on entrepreneurship.In this paper, a static game model of innovation under spillover externality is established，while the income effect and distribution effect of property rights protection institution restrained by market structure are depicted. Then the entrepreneurial body representing the natural person is added and the dynamic game model of innovation system is established.Under the assumption of bounded rationality of entrepreneur，this paper depicts the entrepreneur's myopic R&D adjustment，derive the conditions of the dynamic equilibrium and demonstrate the complexity of R&D policy effects under the possibility of period-doubling bifurcation and chaos.Finally，in the framework of power economics we try to reinterpret the connotation of the institutions under the innovation ecosystem.

Key words: innovation system; R&D; chaos; period-doubling bifurcation; innovation ecosystem