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Diversification: a road to inefficiency in product innovations?

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  • Herbert Dawid

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  • Marc Reimann

Abstract

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Suggested Citation

  • Herbert Dawid & Marc Reimann, 2011. "Diversification: a road to inefficiency in product innovations?," Journal of Evolutionary Economics, Springer, vol. 21(2), pages 191-229, May.
  • Handle: RePEc:spr:joevec:v:21:y:2011:i:2:p:191-229
    DOI: 10.1007/s00191-010-0207-z
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    References listed on IDEAS

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    1. Michael Spence, 1976. "Product Selection, Fixed Costs, and Monopolistic Competition," Review of Economic Studies, Oxford University Press, vol. 43(2), pages 217-235.
    2. Malerba, Franco, 1992. "Learning by Firms and Incremental Technical Change," Economic Journal, Royal Economic Society, vol. 102(413), pages 845-859, July.
    3. Gilbert, Richard J & Matutes, Carmen, 1993. "Product Line Rivalry with Brand Differentiation," Journal of Industrial Economics, Wiley Blackwell, vol. 41(3), pages 223-240, September.
    4. Nancy Gallini & Suzanne Scotchmer, 2002. "Intellectual Property: When Is It the Best Incentive System?," NBER Chapters,in: Innovation Policy and the Economy, Volume 2, pages 51-78 National Bureau of Economic Research, Inc.
    5. Herbert Dawid & Marc Reimann, 2005. "Evaluating Market Attractiveness: Individual Incentives Versus Industry Profitability," Computational Economics, Springer;Society for Computational Economics, vol. 24(4), pages 321-355, June.
    6. De Fraja, Giovanni, 1996. "Product line competition in vertically differentiated markets," International Journal of Industrial Organization, Elsevier, vol. 14(3), pages 389-414, May.
    7. Ulrich Doraszelski & Michaela Draganska, 2006. "MARKET SEGMENTATION STRATEGIES OF MULTIPRODUCT FIRMS -super-," Journal of Industrial Economics, Wiley Blackwell, vol. 54(1), pages 125-149, March.
    8. Crawford, Vincent P, 1995. "Adaptive Dynamics in Coordination Games," Econometrica, Econometric Society, vol. 63(1), pages 103-143, January.
    9. Jovanovic, Boyan & MacDonald, Glenn M, 1994. "The Life Cycle of a Competitive Industry," Journal of Political Economy, University of Chicago Press, vol. 102(2), pages 322-347, April.
    10. Shlomo Kalish & Gary L. Lilien, 1986. "A Market Entry Timing Model for New Technologies," Management Science, INFORMS, vol. 32(2), pages 194-205, February.
    11. Avner Shaked & John Sutton, 1982. "Relaxing Price Competition Through Product Differentiation," Review of Economic Studies, Oxford University Press, vol. 49(1), pages 3-13.
    12. Tesfatsion, Leigh & Judd, Kenneth L., 2006. "Handbook of Computational Economics, Vol. 2: Agent-Based Computational Economics," Staff General Research Papers Archive 10368, Iowa State University, Department of Economics.
    13. Jan Fagerberg, 2003. "Schumpeter and the revival of evolutionary economics: an appraisal of the literature," Journal of Evolutionary Economics, Springer, vol. 13(2), pages 125-159, April.
    14. Tesfatsion, Leigh, 2006. "Agent-Based Computational Economics: A Constructive Approach to Economic Theory," Handbook of Computational Economics,in: Leigh Tesfatsion & Kenneth L. Judd (ed.), Handbook of Computational Economics, edition 1, volume 2, chapter 16, pages 831-880 Elsevier.
    15. Richard R. Nelson & Sidney G. Winter, 2002. "Evolutionary Theorizing in Economics," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 23-46, Spring.
    16. A. Pyka & G. Fagiolo, 2007. "Agent-based Modelling: A Methodology for Neo-Schumpetarian Economics," Chapters,in: Elgar Companion to Neo-Schumpeterian Economics, chapter 29 Edward Elgar Publishing.
    17. Michael Sattinger, 1984. "Value of an Additional Firm in Monopolistic Competition," Review of Economic Studies, Oxford University Press, vol. 51(2), pages 321-332.
    18. Kamien,Morton I. & Schwartz,Nancy L., 1982. "Market Structure and Innovation," Cambridge Books, Cambridge University Press, number 9780521293853, May.
    19. Dawid, Herbert, 2006. "Agent-based Models of Innovation and Technological Change," Handbook of Computational Economics,in: Leigh Tesfatsion & Kenneth L. Judd (ed.), Handbook of Computational Economics, edition 1, volume 2, chapter 25, pages 1235-1272 Elsevier.
    20. Shaked, Avner & Sutton, John, 1983. "Natural Oligopolies," Econometrica, Econometric Society, vol. 51(5), pages 1469-1483, September.
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    Citations

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    Cited by:

    1. Frank Beckenbach & Maria Daskalakis & David Hofmann, 2012. "Agent-based modelling of novelty creating behavior and sectoral growth effects—Linking the creative and the destructive side of innovation," Journal of Evolutionary Economics, Springer, vol. 22(3), pages 513-542, July.
    2. Herbert Dawid & Philipp Harting, 2012. "Capturing Firm Behavior in Agent-based Models of Industry Evolution and Macroeconomic Dynamics," Chapters,in: Evolution, Organization and Economic Behavior, chapter 6 Edward Elgar Publishing.
    3. Hien Tran & Enrico Santarelli & Enrico Zaninotto, 2015. "Efficiency or bounded rationality? Drivers of firm diversification strategies in Vietnam," Journal of Evolutionary Economics, Springer, vol. 25(5), pages 983-1010, November.
    4. Klaus Wersching, 2007. "Agglomeration in an innovative and differentiated industry with heterogeneous knowledge spillovers," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 2(1), pages 1-25, June.
    5. 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.
    6. Herbert Dawid & Reinhold Decker & Thomas Hermann & Hermann Jahnke & Wilhelm Klat & Rolf König & Christian Stummer, 2017. "Management science in the era of smart consumer products: challenges and research perspectives," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 25(1), pages 203-230, March.

    More about this item

    Keywords

    Product innovation; Product diversification; Time-to-market; Agent-based simulation; D83; L11; O32;

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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