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The long run Dynamics of heterogeneous Product and Process Innovations for a Multi Product Monopolist

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  • Bondarev, Anton A.

Abstract

This paper introduces the dynamical framework which combines product and process innovations. The model contributes to the theoretical literature on innovations in two ways. First, it permits for the simultaneous dynamics of both types of innovations which is rarely considered in the literature. Second, the products being generated by the innovations are heterogeneous in their investment characteristics. This allows for the formation of the dynamic interdependency between both types of innovations. As a result the steady state levels of process innovations for each product are different and influence the dynamics of product innovations in turn.

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File URL: http://mpra.ub.uni-muenchen.de/35195/
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File URL: http://mpra.ub.uni-muenchen.de/36669/
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File URL: http://mpra.ub.uni-muenchen.de/45266/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 35195.

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Date of creation: Dec 2010
Date of revision: 26 Nov 2011
Handle: RePEc:pra:mprapa:35195

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Keywords: Product Innovations; Process Innovations; Dynamics; Multiproduct; Heterogeneous; Duopoly;

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References

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  1. Boone, J., 2000. "Competitive pressure: The effects on investments in product and process innovation," Open Access publications from Tilburg University urn:nbn:nl:ui:12-84400, Tilburg University.
  2. R. Boucekkine & M. Germain & O. Licandro & A. Magnus, . "Creative destruction, investment volatility, and the average age of capital," Working Papers 97-08, FEDEA.
  3. Fabbri, Giorgio & Gozzi, Fausto, 2006. "Vintage Capital in the AK growth model: a Dynamic Programming approach. Extended version," MPRA Paper 7334, University Library of Munich, Germany.
  4. Luca Lambertini & Raimondello Orsini, 2001. "Network Externalities and the Overprovision of Quality by a Monopolist," Southern Economic Journal, Southern Economic Association, vol. 67(4), pages 969-982, April.
  5. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
  6. repec:pra:mprapa:2863 is not listed on IDEAS
  7. Chryssochoidis, George M., 2003. "Factors affecting product innovations: A literature review," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 4(1), January.
  8. Gilbert, R. & Shapiro, C., 1988. "Optimal Patent Length And Breadth," Papers 28, Princeton, Woodrow Wilson School - Discussion Paper.
  9. Nicholas Crafts, 2010. "Cliometrics and technological change: a survey," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 17(5), pages 1127-1147.
  10. Susan Athey & Armin Schmutzler, 1995. "Product and Process Flexibility in an Innovative Environment," RAND Journal of Economics, The RAND Corporation, vol. 26(4), pages 557-574, Winter.
  11. Luca Lambertini, 2009. "Optimal Product Proliferation in Monopoly: A Dynamic Analysis," Review of Economic Analysis, Rimini Centre for Economic Analysis, vol. 1(1), pages 80-97, September.
  12. Dockner,Engelbert J. & Jorgensen,Steffen & Long,Ngo Van & Sorger,Gerhard, 2000. "Differential Games in Economics and Management Science," Cambridge Books, Cambridge University Press, number 9780521637329, Fall.
  13. Hopenhayn, Hugo A & Mitchell, Matthew F, 2001. "Innovation Variety and Patent Breadth," RAND Journal of Economics, The RAND Corporation, vol. 32(1), pages 152-66, Spring.
  14. Fabbri, Giorgio & Iacopetta, Maurizio, 2007. "Dynamic Programming, Maximum Principle and Vintage Capital," MPRA Paper 5115, University Library of Munich, Germany.
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Cited by:
  1. Bondarev, Anton A., 2012. "Optimal control over a continuous range of homogeneous and heterogeneous innovations with finite life-cycles," MPRA Paper 40068, University Library of Munich, Germany.
  2. Bondarev, Anton A., 2011. "Endogenous specialization of heterogeneous innovative activities of firms under technological spillovers," MPRA Paper 35424, University Library of Munich, Germany, revised 15 Dec 2011.

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