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Modelling Stochastic Innovation Races


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Title: Modelling Stochastic Innovation Races
Authors: Gottinger, Hans W.
Issue Date: 25-Mar-1998
Publisher: 長崎大学経済学部 / Faculty of Economis, Nagasaki University
Citation: 長崎大学経済学部研究年報, 14, pp.29-52; 1998
Abstract: We consider a firm moving towards a stochastic final destination, to be chosen from a discrete set after a decision period. The decision period itself may be deterministic or stochastic. We assume the firm can move at variable innovation (R&D) speed associated with a monotone nondecreasing variable cost, and it can also stop and move anywhere. There is a fixed cost per time unit “carried” by the firm as well. Associated with keeping at the knowledge (technology) frontier. We investigate various types of the firm’s optimal trajectory in the R&D race during the decision period. The model is adapted and applied to racing behavior in the Japanese telecommunication industry.
Keywords: Innovation / Race / Competition / Strategy / Industrial Economics
URI: http://hdl.handle.net/10069/26656
ISSN: 09108602
Type: Departmental Bulletin Paper
Text Version: publisher
Appears in Collections:Volume 14

Citable URI : http://hdl.handle.net/10069/26656

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