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The long run Dynamics of heterogeneous Product and Process Innovations for a Multi Product Monopolist

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Listed author(s):
  • Bondarev, Anton A.

Abstract

This paper introduces the dynamical framework which combines product and process innovations. The model contributes to the theoretical literature on innovations in two ways. First, it permits for the simultaneous dynamics of both types of innovations which is rarely considered in the literature. Second, the products being generated by the innovations are heterogeneous in their investment characteristics. This allows for the formation of the dynamic interdependency between both types of innovations. As a result the steady state levels of process innovations for each product are different and influence the dynamics of product innovations in turn.

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File URL: https://mpra.ub.uni-muenchen.de/35195/1/MPRA_paper_35195.pdf
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File URL: https://mpra.ub.uni-muenchen.de/36669/3/MPRA_paper_36669.pdf
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File URL: https://mpra.ub.uni-muenchen.de/45266/10/MPRA_paper_45266.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 35195.

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Date of creation: Dec 2010
Date of revision: 26 Nov 2011
Handle: RePEc:pra:mprapa:35195
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Keywords: Product Innovations; Process Innovations; Dynamics; Multiproduct; Heterogeneous; Duopoly;

Other versions of this item:

Find related papers by JEL classification:
  • L0 - Industrial Organization - - General
  • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
  • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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  1. Susan Athey & Armin Schmutzler, 1995. "Product and Process Flexibility in an Innovative Environment," RAND Journal of Economics, The RAND Corporation, vol. 26(4), pages 557-574, Winter.
  2. Boucekkine, Raouf & Germain, Marc & Licandro, Omar & Magnus, Alphonse, 1998. "Creative Destruction, Investment Volatility, and the Average Age of Capital," Journal of Economic Growth, Springer, vol. 3(4), pages 361-384, December.
  3. Jan Boone, 2000. "Competitive Pressure: The Effects on Investments in Product and Process Innovation," RAND Journal of Economics, The RAND Corporation, vol. 31(3), pages 549-569, Autumn.
  4. Hopenhayn, Hugo A & Mitchell, Matthew F, 2001. "Innovation Variety and Patent Breadth," RAND Journal of Economics, The RAND Corporation, vol. 32(1), pages 152-166, Spring.
  5. Luca Lambertini & Raimondello Orsini, 2001. "Network Externalities and the Overprovision of Quality by a Monopolist," Southern Economic Journal, Southern Economic Association, vol. 67(4), pages 969-982, April.
  6. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
  7. Richard Gilbert & Carl Shapiro, 1990. "Optimal Patent Length and Breadth," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 106-112, Spring.
  8. Luca Lambertini, 2009. "Optimal Product Proliferation in Monopoly: A Dynamic Analysis," Review of Economic Analysis, Rimini Centre for Economic Analysis, vol. 1(1), pages 80-97, September.
  9. Chryssochoidis, George M., 2003. "Factors affecting product innovations: A literature review," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 4(1), January.
  10. Nicholas Crafts, 2010. "Cliometrics and technological change: a survey," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 17(5), pages 1127-1147.
  11. Dockner,Engelbert J. & Jorgensen,Steffen & Long,Ngo Van & Sorger,Gerhard, 2000. "Differential Games in Economics and Management Science," Cambridge Books, Cambridge University Press, number 9780521637329, October.
  12. repec:pra:mprapa:2863 is not listed on IDEAS
  13. Fabbri, Giorgio & Iacopetta, Maurizio, 2007. "Dynamic Programming, Maximum Principle and Vintage Capital," MPRA Paper 5115, University Library of Munich, Germany.
  14. Fabbri, Giorgio & Gozzi, Fausto, 2006. "Vintage Capital in the AK growth model: a Dynamic Programming approach. Extended version," MPRA Paper 7334, University Library of Munich, Germany.
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Cited by:

  1. Anton Bondarev & Alfred Greiner, 2017. "Catching-up and falling behind: Effects of learning in an R&D differential game with spillovers," Working papers 2017/02, Faculty of Business and Economics - University of Basel.
  2. Bondarev, Anton A., 2012. "Optimal control over a continuous range of homogeneous and heterogeneous innovations with finite life-cycles," MPRA Paper 40068, University Library of Munich, Germany.
  3. Anton Bondarev & Phemelo Tamasiga, 2014. "Differential games approach to trade with exhaustible resources," Working papers 2014/14, Faculty of Business and Economics - University of Basel.
  4. Anton Bondarev, 2016. "Intensity of R&D competition and the generation of innovations in heterogeneous setting," Journal of Evolutionary Economics, Springer, vol. 26(3), pages 621-653, July.
  5. Anton Bondarev & Alfred Greiner, 2017. "Optimal R&D investment with learning-by-doing: Multiple steady-states and thresholds," Working papers 2017/06, Faculty of Business and Economics - University of Basel.
  6. Anton Bondarev & Alfred Greiner, 2017. "Endogenous growth and structural change through vertical and horizontal innovations," Working papers 2017/05, Faculty of Business and Economics - University of Basel.
  7. Bondarev, Anton, 2014. "Endogenous specialization of heterogeneous innovative activities of firms under the technological spillovers," Journal of Economic Dynamics and Control, Elsevier, vol. 38(C), pages 235-249.
  8. Anton Bondarev & Alfred Greiner, 2017. "Technology lock-in with horizontal and vertical innovations through limited R&D spending," Working papers 2017/04, Faculty of Business and Economics - University of Basel.

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