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Innovation and Imitation in an Information Age

Author

Listed:
  • Thomas F. Cooley

    (New York University,)

  • Mehmet Yorukoglu

    (University of Chicago,)

Abstract

We study the behavior of imitation and innovation in a dynamic general equilibrium model that captures the salient features of an information age. We study a world where innovations can be made but at a cost that reflects the type of goods. After innovation takes place, imitation is possible but again at some cost which reflects the nature of the good. We show that the behavior of innovation and imitation are very different for high information content goods and low information content goods and this has important implications for the structure and evolution of industry. (JEL: O31, L16) Copyright (c) 2003 The European Economic Association.

Suggested Citation

  • Thomas F. Cooley & Mehmet Yorukoglu, 2003. "Innovation and Imitation in an Information Age," Journal of the European Economic Association, MIT Press, vol. 1(2-3), pages 406-418, 04/05.
  • Handle: RePEc:tpr:jeurec:v:1:y:2003:i:2-3:p:406-418
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    Citations

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    Cited by:

    1. Amihai Glazer & Hiroki Kondo, 2007. "Innovation and Imitation Across Jurisdictions," Working Papers 070807, University of California-Irvine, Department of Economics.

    More about this item

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure

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