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Market Structure, Competition, And Welfare Change Due To Technological Innovations

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Author Info
HYUNG BAE
Abstract

This paper analyzes the change in social welfare brought about by a cost reducing technological innovation. Each firm adopts a new technology at the expense of the other firms. Hence, competitive adoption of new technology can reduce social welfare. Because a technological innovation can change market structure in different ways under different kinds of competition it can cause quantity competition to generate greater social welfare than price competition does. [020]

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Article provided by Korean International Economic Association in its journal International Economic Journal.

Volume (Year): 1 (1987)
Issue (Month): 1 (April)
Pages: 67-74
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Handle: RePEc:taf:intecj:v:1:y:1987:i:1:p:67-74

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  1. Reinganum, Jennifer F, 1981. "On the Diffusion of New Technology: A Game Theoretic Approach," Review of Economic Studies, Blackwell Publishing, vol. 48(3), pages 395-405, July. [Downloadable!] (restricted)
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  2. Reinganum, Jennifer F., 1981. "Dynamic games of innovation," Journal of Economic Theory, Elsevier, vol. 25(1), pages 21-41, August. [Downloadable!] (restricted)
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  3. Jensen, Richard, 1983. "Innovation adoption and diffusion when there are competing innovations," Journal of Economic Theory, Elsevier, vol. 29(1), pages 161-171, February. [Downloadable!] (restricted)
  4. Balcer, Yves & Lippman, Steven A., 1984. "Technological expectations and adoption of improved technology," Journal of Economic Theory, Elsevier, vol. 34(2), pages 292-318, December. [Downloadable!] (restricted)
  5. Kamien, Morton I & Schwartz, Nancy L, 1972. "Timing of Innovations Under Rivalry," Econometrica, Econometric Society, vol. 40(1), pages 43-60, January. [Downloadable!] (restricted)
  6. Fudenberg, Drew & Tirole, Jean, 1985. "Preemption and Rent Equilization in the Adoption of New Technology," Review of Economic Studies, Blackwell Publishing, vol. 52(3), pages 383-401, July. [Downloadable!] (restricted)
  7. Jensen, Richard, 1982. "Adoption and diffusion of an innovation of uncertain profitability," Journal of Economic Theory, Elsevier, vol. 27(1), pages 182-193, June. [Downloadable!] (restricted)
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