How to Measure the Outcome of Innovations: Application to Product Innovations
AbstractThis paper provided a conceptual framework to quantify consumer gains from product innovations. Using an example of VCRs, we illustrate a model that is useful to measure consumer welfare, and describe what data are to be used for the analysis. We also make a selective survey of papers that measure the consumer welfare of product innovations and discuss advantages and limitations of the analytical framework.
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Bibliographic InfoPaper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-555.
Length: 14 pages
Date of creation: Apr 2008
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- Hiroshi Ohashi, 2003. "Econometric analysis of price index for home video cassette recorders in the U.S., 1978-1987," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 12(2), pages 179-197.
- Ohashi, Hiroshi, 2002. "Anticipatory effects of voluntary export restraints: a study of home video cassette recorders market, 1978-86," Journal of International Economics, Elsevier, vol. 57(1), pages 83-105, June.
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- Amil Petrin, 2002. "Quantifying the Benefits of New Products: The Case of the Minivan," Journal of Political Economy, University of Chicago Press, vol. 110(4), pages 705-729, August.
- Hiroshi Ohashi, 2003. "The Role of Network Effects in the US VCR Market, 1978-1986," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 12(4), pages 447-494, December.
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