Market Structure and Innovation Races / Marktstruktur und Innovationsrennen: An Empirical Assessment Using Indirect Inference / Eine empirische Untersuchung mit Hilfe der indirekten Schätzmethode
Based on an extended game-theoretic innovation-race model, we derive some Schumpeterian hypotheses of the impact of technological rivalry, market power, technological opportunities and demand expectations on the timing of product and process innovations. Using innovation data at the firm level in the German industrial sector, we estimate various versions of an econometric specification of the model with dichotomous innovation data by using a univariate binary probit model with qualitative regressor variables estimated applying indirect inference. Our empirical results are consistent with the derived hypotheses that intense rivalry, favorable technological opportunities and high demand expectations spur innovative activity, while the effect of market power is ambiguous.
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Volume (Year): 225 (2005)
Issue (Month): 4 (August)
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Tom Lee & Louis L. Wilde, 1980. "Market Structure and Innovation: A Reformulation," The Quarterly Journal of Economics, Oxford University Press, vol. 94(2), pages 429-436.
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