Competition in Innovation and Imitation - A Theoretical and Experimental Study -

Uwe Cantner (), Werner Güth (), Andreas Nicklisch () and Torsten Weiland ()
Additional contact information
Uwe Cantner: University of Jena, Faculty of Economics, Postal: D-07740 Jena
Andreas Nicklisch: Max-Planck-Institute for Research into Economic Systems, Postal: Kahlaische Str. 10, D-07745 Jena

No 01/2004, Jenaer Schriften zur Wirtschaftswissenschaft from Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät

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.

Keywords: Innovation; Imitation; Patent Tournament; Trial and Error Process (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-com, nep-exp, nep-ino and nep-tid
Date: 2004-01

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Working Paper: Competition in Innovation and Imitation - A Theoretical and Experimental Study - (2003)
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Persistent link: http://EconPapers.repec.org/RePEc:jen:jenasw:2004-01

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