A Dynamic Model of Stochastic Innovation Race: Leader-Follower Case

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/5040 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/5040 http://eprints.org/relation/isCoversheetVersionOf https://pure.iiasa.ac.at/id/document/5040 archive 351 disk0/00/00/74/11 2016-01-15 02:17:13 2021-08-27 17:18:49 2016-01-15 02:17:13 monograph show 2 Aseev S.M. 6509 Katsumoto M. 7605 A Dynamic Model of Stochastic Innovation Race: Leader-Follower Case pub iis_mod prog_dyn 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. 2004-09 published IR-04-035 IR-04-035 19 1364 public interim_report IIASA, Laxenburg, Austria 24 FALSE info:eu-repo/semantics/book