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How to Measure the Outcome of Innovations: Application to Product Innovations

Hiroshi Ohashi ()

No CIRJE-F-555, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: This paper provided a conceptual framework to quantify consumer gains from product innovations. Using an example of VCRs, we illustrate a model that is useful to measure consumer welfare, and describe what data are to be used for the analysis. We also make a selective survey of papers that measure the consumer welfare of product innovations and discuss advantages and limitations of the analytical framework.

Pages: 14 pages
Date: 2008-04
New Economics Papers: this item is included in nep-ino and nep-mkt
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