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Aseev, S.M. & Katsumoto, M. (2004). A Dynamic Model of Stochastic Innovation Race: Leader-Follower Case. IIASA Interim Report. IIASA, Laxenburg, Austria: IR-04-035
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Abstract
We provide steps towards analysis of rational behaviors of innovators acting on a market of a technological product. The situation when a technological leader competes with a large number of identical followers is in the focus. The process of development of new generations of the product is treated as a Poisson-type cyclic stochastic process. The technology spillovers effect acts as a driving force of the technological progress. We obtain an analytic characterization of optimal leaders R&D and manufacturing investment policies. Numerical simulations and economic interpretations are presented as well.
| Item Type: | Monograph (IIASA Interim Report) |
|---|---|
| Research Programs: | Dynamic Systems (DYN) |
| Depositing User: | IIASA Import |
| Date Deposited: | 15 Jan 2016 02:17 |
| Last Modified: | 27 Aug 2021 17:18 |
| URI: | https://pure.iiasa.ac.at/7411 |
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