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The R&D stochastic component within the ‘sailing-ship effect’

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  • Giovanni Filatrella
  • Nicola De Liso

Abstract

In this work, we apply a stochastic component to a previously proposed deterministic model which expounds the ‘sailing-ship effect’ – that is, the reaction of an existing technology to the appearance of a new, potentially better, technology. The evolution of the technical performance – e.g. data transmission capacity – is studied taking into account the noise engendered by the presence of a random variable that mimics the uncertainty of R&D productivity. Both a Gaussian and a Cauchy–Lorentz distribution are considered. Performances’ evolution is studied by running simulations of a nonlinear functional map which is capable of showing the sailing-ship effect in the two possible variants, i.e. either the old or the new technology prevails in terms of performance. A noteworthy counterintuitive result for the Gaussian case is that noise may actually be beneficial to performance improvement.

Suggested Citation

  • Giovanni Filatrella & Nicola De Liso, 2021. "The R&D stochastic component within the ‘sailing-ship effect’," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 30(7), pages 731-749, October.
    • Handle: RePEc:taf:ecinnt:v:30:y:2021:i:7:p:731-749
    DOI: 10.1080/10438599.2020.1772707
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