Arbeitspapier
Innovate or imitate? Behavioural Technological Change
We propose a behavioural model of technological change with evolutionary switching between boundedly rational costly innovators and free imitators, and study the endogenous interplay of innovation decisions, market price dynamics and technological progress. Innovation and imitation are strategic substitutes and exhibit negative feedback. Endogenous technological change is the cumulative outcome of innovation decisions. There are three scenarios: market breakdown, Schumpeterian rents and learning curves. The latter is characterized by an increasing fraction of innovators when demand is elastic, while inelastic demand allows technological progress with shrinking innovation effort. Model simulations are compared to empirical data of two industrial sectors.
- Sprache
-
Englisch
- Erschienen in
-
Series: Tinbergen Institute Discussion Paper ; No. 13-099/II
- Klassifikation
-
Wirtschaft
Existence and Stability Conditions of Equilibrium
Stochastic and Dynamic Games; Evolutionary Games; Repeated Games
Firm Behavior: Theory
Technological Change: Choices and Consequences; Diffusion Processes
- Thema
-
discrete choice
innovation patterns
learning curves
switching behavior
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hommes, Cars
Zeppini, Paolo
- Ereignis
-
Veröffentlichung
- (wer)
-
Tinbergen Institute
- (wo)
-
Amsterdam and Rotterdam
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Hommes, Cars
- Zeppini, Paolo
- Tinbergen Institute
Entstanden
- 2013
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