Heterogeneity in innovation strategies, evolving consumer preferences and market structure: An evolutionary multi-agent based modelling approach

Salih Cevikarslan (s.cevikarslan@maastrichtuniversity.nl)
Additional contact information
Salih Cevikarslan: UNU-MERIT, and SBE, Maastricht University

No 2013-019, MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT)

Abstract: The aims of this paper are twofold. The first is to analyse the interaction between research and development (R&D) activities of firms and heterogeneous consumer preferences in structuring the evolution of an industry. The second is to explore the heterogeneity in firms' innovation strategies. Is heterogeneity sustainable in the long-term and what happens to the market shares of firms having different innovation strategies when a structural market characteristic (market size) or a behavioural rule (R&D intensity) is changed? To answer these research questions, an evolutionary, multi-agent based, sector-level innovation model is designed. The model addresses supply and demand sides of the market simultaneously with the co-evolution of heterogeneous consumer preferences, heterogeneous firm knowledge bases, and technology levels at the micro level.

Keywords: Heterogeneity; innovation strategies; evolutionary economics; agent-based modelling (search for similar items in EconPapers)
JEL-codes: B52 L11 O33 (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-com, nep-cse, nep-evo, nep-ino and nep-knm
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://unu-merit.nl/publications/wppdf/2013/wp2013-019.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:unm:unumer:2013019

Access Statistics for this paper

More papers in MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT) Contact information at EDIRC.
Bibliographic data for series maintained by Ad Notten (library@merit.unu.edu this e-mail address is bad, please contact repec@repec.org).