Innovation timing games

A general framework with applications

verfasst von

Heidrun C. Hoppe, Ulrich Lehmann-Grube

Abstract

We offer a new algorithm for analyzing innovation timing games. Its main advantage over the traditional approach is that it applies to problems that had previously been intractable. We use the algorithm to examine two classical innovation problems. We find that the competition takes the form of a waiting game with a second-mover advantage either for any level of R&D costs (process innovation) or for high R&D costs (product innovation). Moreover, both models predict that the second-mover advantage is monotonically increasing in the costs of R&D.

Externe Organisation(en)

Rheinische Friedrich-Wilhelms-Universität Bonn
Universität Hamburg

Typ

Artikel

Journal

Journal of economic theory

Band

121

Seiten

30-50

Anzahl der Seiten

21

ISSN

0022-0531

Publikationsdatum

03.2005

Publikationsstatus

Veröffentlicht

Peer-reviewed

Ja

ASJC Scopus Sachgebiete

Volkswirtschaftslehre und Ökonometrie

Ziele für nachhaltige Entwicklung

SDG 9 – Industrie, Innovation und Infrastruktur

Elektronische Version(en)

https://doi.org/10.1016/j.jet.2004.03.002 (Zugang: Unbekannt)