Competition and Product Innovation in Dynamic Oligopoly PDF Download
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Author: Ronald L. Goettler
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We investigate the relationship between competition and innovation using a dynamic oligopoly model that endogenizes both the long-run innovation rate and market structure. We use the model to examine how various determinants of competition, such as product substitutability, entry costs, and innovation spillovers, affect firms' equilibrium strategies for entry, exit, and investment in product quality. We find an inverted-U relationship between product substitutability and innovation: the returns to innovation initially rise for all firms but eventually, as the market approaches a winner-take-all environment, laggards have few profit scraps to fight over and give up pursuit of the leader, knowing he will defend his lead. The increasing portion of the inverted-U reflects changes in firm's investment policy functions, whereas the decreasing portion arises from the industry transiting to states with fewer firms and wider quality gaps. Allowing market structure to be endogenous yields different results compared to extant work that fixes the market structure.
Author: Ronald L. Goettler
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We investigate the relationship between competition and innovation using a dynamic oligopoly model that endogenizes both the long-run innovation rate and market structure. We use the model to examine how various determinants of competition, such as product substitutability, entry costs, and innovation spillovers, affect firms' equilibrium strategies for entry, exit, and investment in product quality. We find an inverted-U relationship between product substitutability and innovation: the returns to innovation initially rise for all firms but eventually, as the market approaches a winner-take-all environment, laggards have few profit scraps to fight over and give up pursuit of the leader, knowing he will defend his lead. The increasing portion of the inverted-U reflects changes in firm's investment policy functions, whereas the decreasing portion arises from the industry transiting to states with fewer firms and wider quality gaps. Allowing market structure to be endogenous yields different results compared to extant work that fixes the market structure.
Author: Federico Etro
Publisher: Springer Science & Business Media
ISBN: 3540496017
Category : Science
Languages : en
Pages : 296
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Book Description
This book reviews recent progress in the theory of oligopoly and market leadership and provides new results on the theory of Stackelberg competition and Nash competition with strategic investment under endogenous entry. These theories are applied to models of competition in quantities, prices and to patent races. The results are used to propose a new approach to competition policy and issues of the abuse of dominance.
Author: Jorge Niosi
Publisher: McGill-Queen's Press - MQUP
ISBN: 9780773508590
Category : Business & Economics
Languages : en
Pages : 310
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Book Description
"... papers presented to the international symposium "Oligopolies, Technological Innovation and International Competitiveness" organized by the Centre for Research on the Development of Industry and Technology (CREDIT) of the University of Quebec at Montreal in October 1987" -- Introd.
Author: Mario Baldassarri
Publisher: Springer
ISBN: 134912818X
Category : Business & Economics
Languages : en
Pages : 376
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Book Description
The book has three main objectives. Firstly, to provide an up-dated analysis of the most important theoretical developments, secondly, to present significant empirical verifications and thirdly, to assess the micro-macro debate and the relations which link the market structure to the function of the economic system.
Author: Goel, Alok Kumar
Publisher: IGI Global
ISBN: 1466696087
Category : Business & Economics
Languages : en
Pages : 450
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Book Description
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Author: D. Fudenberg
Publisher: Taylor & Francis
ISBN: 1136456058
Category : Business & Economics
Languages : en
Pages : 95
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Book Description
Fudenberg and Tirole use the game-theoretic issues of information, commitment and timing to provide a realistic approach to oligopoly.
Author: Jiandong Ju
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Firms' proliferation behavior in a differentiated product market is studied using an oligopolistic competition model with multiproduct firms. The model has the following characteristics: (1) the elasticity of substitution across firm's own products and the elasticity of substitution across different firms are allowed to differ; (2) the product managers of the same firm behave cooperatively rather than independently; (3) the number of firms is determined by a free-entry condition and so is endogenous. If the elasticity of substitution across the firm's own products increases, it is shown that the firm proliferates less and the number of firms in the market increases. If the elasticity of substitution across different firms increases, firms proliferate more and the number of firms in the market decreases.
Author: Fouad Sabry
Publisher: One Billion Knowledgeable
ISBN:
Category : Business & Economics
Languages : en
Pages : 392
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Book Description
What is Competition Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss. Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Competition Chapter 2: Game theory Chapter 3: Microeconomics Chapter 4: Monopolistic competition Chapter 5: Oligopoly Chapter 6: Strategy Chapter 7: Industrial organization Chapter 8: Collusion Chapter 9: Product differentiation Chapter 10: Competitive advantage Chapter 11: Porter's five forces analysis Chapter 12: Anti-competitive practices Chapter 13: Barriers to entry Chapter 14: Managerial economics Chapter 15: Experimental economics Chapter 16: Market power Chapter 17: Non-price competition Chapter 18: Market structure Chapter 19: Market (economics) Chapter 20: Competition (economics) Chapter 21: Hypercompetition (II) Answering the public top questions about competition. (III) Real world examples for the usage of competition in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of competition.
Author: James Friedman
Publisher: CUP Archive
ISBN: 9780521282444
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
James Friedman provides a thorough survey of oligopoly theory using numerical examples and careful verbal explanations to make the ideas clear and accessible. While the earlier ideas of Cournot, Hotelling, and Chamberlin are presented, the larger part of the book is devoted to the modern work on oligopoly that has resulted from the application of dynamic techniques and game theory to this area of economics. The book begins with static oligopoly theory. Cournot's model and its more recent elaborations are covered in the first substantive chapter. Then the Chamberlinian analysis of product differentiation, spatial competition, and characteristics space is set out. The subsequent chapters on modern work deal with reaction functions, advertising, oligopoly with capital, entry, and oligopoly using noncooperative game theory. A large bibliography is provided.
Author: Mehmet Berk Talay
Publisher: ProQuest
ISBN: 9780549845287
Category : Automobile industry and trade
Languages : en
Pages : 153
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Book Description
Given a set of competing products, which are more likely to succeed? As decisive as it is for marketing scholars as well as managers, the answer to this question is also more than recondite thanks to the complex dynamics of rivalry among products. This complexity hinges primarily on the "interactive" nature of the competition, which renders the ultimate outcome of any strategic action contingent upon the way the competitors respond to that action. To elucidate the impact of interactive and coevolutionary dynamics in the competitiveness of products, this dissertation advances a stance based on a theory from evolutionary biology named the Red Queen Competition.
