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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-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
    • Handle: RePEc:jen:jenasw:2004-01
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    References listed on IDEAS

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    1. Dasgupta, Partha & Stiglitz, Joseph, 1980. "Industrial Structure and the Nature of Innovative Activity," Economic Journal, Royal Economic Society, vol. 90(358), pages 266-293, June.
    2. Cohen, Wesley M & Levinthal, Daniel A, 1989. "Innovation and Learning: The Two Faces of R&D," Economic Journal, Royal Economic Society, vol. 99(397), pages 569-596, September.
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      More about this item

      Keywords

      Innovation; Imitation; Patent Tournament; Trial and Error Process;
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