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Competition in Innovation and Imitation - A Theoretical and Experimental Study -

Author

Listed:
  • Uwe Cantner

    (University of Jena, Faculty of Economics)

  • Werner Güth

    (Max-Planck-Institute for Research into Economic Systems)

  • Andreas Nicklisch

    (Max-Planck-Institute for Research into Economic Systems)

  • Torsten Weiland

Abstract

For given product specifications by two competing firms the demand levels are determined by a randomly generated ideal composition of aspects. Firms can vary some or all aspects of these products, based on information about own (and other's) previous demand. Although the product space is much too large to be explored systematically, we expect (and test for) rather reasonable innovative success and welfare levels due to own innovative attempts and imitation of a successful other. Parameter variations concern the pioneer advantage and search costs.

Suggested Citation

  • Uwe Cantner & Werner Güth & Andreas Nicklisch & Torsten Weiland, 2004. "Competition in Innovation and Imitation - A Theoretical and Experimental Study -," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 01/2004, Friedrich Schiller University of Jena, School of of Economics and Business Administration.
    • Handle: RePEc:jen:jenasw:2004-01
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    2. Uwe Cantner & Andreas Nicklisch & Torsten Weiland, 2005. "Innovation races: An experimental study on strategic research activities," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 17/2005, Friedrich Schiller University of Jena, School of of Economics and Business Administration.

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