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R&D Dynamics in the Product Life Cycle

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  • Stadler, M

Abstract

This paper presents a model of a firm's R&D behavior over an entire product life cycle. Beginning with the search stage, modelled as a patent race, firms raise their R&D expenditures until one firm succeeds with a technological breakthrough in creating a new product market. The following R&D behavior of the successful entrepreneur, devoted to incremental product and process innovations, varies in a characteristic way over the new product's life cycle. Under reasonable conditions, R&D activities rise in the early stages but decline when the market matures. Overall, supply and demand factors combine to determine the R&D time-path.

Suggested Citation

  • Stadler, M, 1991. "R&D Dynamics in the Product Life Cycle," Journal of Evolutionary Economics, Springer, vol. 1(4), pages 293-305, November.
    • Handle: RePEc:spr:joevec:v:1:y:1991:i:4:p:293-305
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    Cited by:

    1. Natália Barbosa & Ana Paula Faria & Vasco Eiriz, 2014. "Industry- and firm-specific factors of innovation novelty," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 23(3), pages 865-902.
    2. Jason M. Walter & Jeffrey M. Peterson, 2017. "Strategic R&D and the innovation of products: understanding the role of time preferences and product differentiation," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 26(7), pages 575-595, October.
    3. An, Galina & Iyigun, Murat F., 2004. "The export technology content, learning by doing and specialization in foreign trade," Journal of International Economics, Elsevier, vol. 64(2), pages 465-483, December.
    4. Orbach Yair & Fruchter Gila E., 2010. "A Utility-Based Diffusion Model Applied to the Digital Camera Case," Review of Marketing Science, De Gruyter, vol. 8(1), pages 1-28, June.
    5. Ugur Aytun & Yilmaz Kilicaslan, 2017. "Product Life Cycle and Innovativeness: The Case of MENA," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 3(2), pages 48-91, December.
    6. Gu, Gaoxiang & Wang, Zheng, 2018. "Research on global carbon abatement driven by R&D investment in the context of INDCs," Energy, Elsevier, vol. 148(C), pages 662-675.
    7. Reiß, Ariane, 1997. "An option pricing approach to investment in innovations in a competitive environment," Tübinger Diskussionsbeiträge 116, University of Tübingen, School of Business and Economics.
    8. Aaron M. Lane, 2020. "The destruction phase of public sector innovation: regulations governing school closure in Australia," Journal of Evolutionary Economics, Springer, vol. 30(4), pages 1151-1169, September.
    9. Manfred Stadler, 1992. "Determinants of innovative activity in oligopolistic markets," Journal of Economics, Springer, vol. 56(2), pages 137-156, June.

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