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Heterogeneity in innovation strategies, evolving consumer preferences and market structure: An evolutionary multi-agent based modelling approach

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  • Cevikarslan, Salih

    ()
    (UNU-MERIT, and SBE, Maastricht University)

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    Abstract

    The aims of this paper are twofold. The first is to analyse the interaction between research and development (R&D) activities of firms and heterogeneous consumer preferences in structuring the evolution of an industry. The second is to explore the heterogeneity in firms' innovation strategies. Is heterogeneity sustainable in the long-term and what happens to the market shares of firms having different innovation strategies when a structural market characteristic (market size) or a behavioural rule (R&D intensity) is changed? To answer these research questions, an evolutionary, multi-agent based, sector-level innovation model is designed. The model addresses supply and demand sides of the market simultaneously with the co-evolution of heterogeneous consumer preferences, heterogeneous firm knowledge bases, and technology levels at the micro level.

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    Bibliographic Info

    Paper provided by United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) in its series MERIT Working Papers with number 019.

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    Date of creation: 2013
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    Handle: RePEc:unm:unumer:2013019

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    Related research

    Keywords: Heterogeneity; innovation strategies; evolutionary economics; agent-based modelling;

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    1. Hollenstein, Heinz, 2003. "Innovation modes in the Swiss service sector: a cluster analysis based on firm-level data," Research Policy, Elsevier, vol. 32(5), pages 845-863, May.
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    7. Marengo, Luigi & Valente, Marco, 2010. "Industry dynamics in complex product spaces: An evolutionary model," Structural Change and Economic Dynamics, Elsevier, vol. 21(1), pages 5-16, March.
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    12. Constance E. Helfat, 1994. "Evolutionary Trajectories in Petroleum Firm R&D," Management Science, INFORMS, vol. 40(12), pages 1720-1747, December.
    13. Malerba, Franco, et al, 1999. "'History-Friendly' Models of Industry Evolution: The Computer Industry," Industrial and Corporate Change, Oxford University Press, vol. 8(1), pages 3-40, March.
    14. Pavitt, Keith, 1984. "Sectoral patterns of technical change: Towards a taxonomy and a theory," Research Policy, Elsevier, vol. 13(6), pages 343-373, December.
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    16. repec:rje:randje:v:37:y:2006:i:4:p:861-886 is not listed on IDEAS
    17. Stein, Jeremy C, 1997. "Waves of Creative Destruction: Firm-Specific Learning-by-Doing and the Dynamics of Innovation," Review of Economic Studies, Wiley Blackwell, vol. 64(2), pages 265-88, April.
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