Arbeitspapier
Technology lock-in with horizontal and vertical innovations through limited R&D spending
In this paper we analyze an inter-temporal optimization problem of a representative firm that invests in horizontal and vertical innovations and that faces a constraint with respect to total R&D spending. We find that there can exist two different steady-states of the economy when the amount of research spending falls short of an endogenously determined threshold: one with higher productivities and less new technologies being developed, and the other with more technoligies being created and lower productivities. But, for a higher amount of R&D spending the steady-state becomes unique and the firm produces the whole spectrum of available technologies. Thus, a lock-in effect may arise that, however, can be overcome by raising R&D spending sufficiently.
- Sprache
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Englisch
- Erschienen in
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Series: WWZ Working Paper ; No. 2017/04
- Klassifikation
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Wirtschaft
Optimization Techniques; Programming Models; Dynamic Analysis
Management of Technological Innovation and R&D
- Thema
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multiple steady-states
lock-in
innovations
R&D constraint
optimal control
- Ereignis
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Geistige Schöpfung
- (wer)
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Bondarev, Anton
Greiner, Alfred
- Ereignis
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Veröffentlichung
- (wer)
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University of Basel, Center of Business and Economics (WWZ)
- (wo)
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Basel
- (wann)
-
2017
- DOI
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doi:10.5451/unibas-ep61313
- Handle
- Letzte Aktualisierung
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20.09.2024, 08:21 MESZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Bondarev, Anton
- Greiner, Alfred
- University of Basel, Center of Business and Economics (WWZ)
Entstanden
- 2017