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Download or read book Competition and Innovation written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Philippe Aghion
Publisher :
ISBN 13 :
Total Pages : 43 pages
Book Rating : 4.:/5 (129 download)
Download or read book Competition and Innovation written by Philippe Aghion and published by . This book was released on 2014 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the relationship between product market competition and innovation. It uses the radical policy reforms in the UK as instruments for changes in product market competition, and finds a robust inverted-U relationship between competition and patenting. It then develops an endogenousm growth model with step-by-step innovation that can deliver this inverted-U pattern.In this model, competition has an ambiguous effect on innovation. On the one hand, it discourages laggard firms from innovating, as it reduces their rents from catching up with the leaders in the same industry. On the other hand, it encourages neck-and-neck firms to innovate in order to escape competition with their rival. The inverted-U pattern results from the interplay between these two effects, together with the effect of competition on the equilibrium industry structure. The model generates two additional predictions: on the relationship between competition and the average technological distance between leaders and followers across industries; and on the relationship between the distance of an industry to its technological frontier and the steepness of the inverted-U. Both predictions are supported by the data.
Author : Chol-Won Li
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (795 download)
Download or read book An Inverted U Relationship Between Competition and Innovation written by Chol-Won Li and published by . This book was released on 2007 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ondřej Krčál
Publisher : Masarykova univerzita
ISBN 13 : 8021074981
Total Pages : 168 pages
Book Rating : 4.0/5 (21 download)
Download or read book An Explanation of the Inverted-U Relationship between Profitability and Innovation written by Ondřej Krčál and published by Masarykova univerzita. This book was released on 2015-01-01 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: V této knize jsou formulovány dva inovační modely, které vysvětlují vztah mezi ziskovostí a inovacemi ve tvaru obráceného U a vztahy mezi ziskovostí a rozdíly mezi produktivitou jednotlivých firem v daném odvětví, které nachází Aghion et al. (2005) a Hashmi (2005). Základní model (basic model) přináší jednoduché a obecné vysvětlení těchto stylizovaných faktů a prospektově teoretický model (prospect-theory model) předkládá specifické vysvětlení stylizovaných faktů, které obsahuje behaviorální teorii manažerského rozhodování. Pro určité hodnoty parametrů generují oba modely predikce, které odpovídají vztahům, jež nachází Aghion et al. (2005) a Hashmi (2005). Dále je zde ukázáno, že oba modely vytvářejí realistické předpovědi i pro širší rozmezí parametrů kolem těchto specifických hodnot.
Author : Philippe Aghion
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.:/5 (5 download)
Download or read book Competition and Innovation written by Philippe Aghion and published by . This book was released on 2004 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Luigi Pisano
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Credit Constraints and the Inverted-U Relationship Between Competition and Innovation written by Luigi Pisano and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical studies have uncovered an inverted-U relationship between product-market competition and innovation. This is inconsistent with the original Schumpeterian model, where greater competition always reduces the profitability of innovation and thus the incentives to innovate. We show that the model can predict the inverted-U if the innovators' talent is heterogeneous and asymmetrically observable. When competition is low and profitability is high, talented innovators are credit-constrained, since untalented innovators are eager to mimic them. As competition increases and profitability decreases, untalented innovators become less eager to mimic, and talented innovators can invest more. This generates the increasing part of the relationship. When competition is high and profitability is low, credit constraints disappear, and the relationship is decreasing. Our theory generates additional specific predictions that are well borne out by the existing evidence.
Author : Aamir Rafique Hashmi
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (13 download)
Download or read book Competition and Innovation written by Aamir Rafique Hashmi and published by . This book was released on 2014 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: I re-examine the inverted-U relationship between competition and innovation (originally modeled and tested by Aghion et al. (2005)) by using data from publicly traded manufacturing firms in the US. I control for the possible endogeneity of competition by using various measures of foreign competition as instruments. I find a positive relationship between competition (as measured by the inverse of markups) and innovation (as measured by citation-weighted patents). The positive relationship is robust to many alternative assumptions and specifications. To reconcile the positive relationship in the US data with the inverted-U relationship that Aghion et al. (2005) find in the UK data, I modify their theoretical model and show that the modified model can explain both positive and inverted-U relationships. The key theoretical assumption is that the US manufacturing industries are technologically more neck-and-neck than their counterparts in the UK. There is some, though not strong, support for this assumption in the data.
Author : Michael R. Peneder
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Competition, R&D and Innovation written by Michael R. Peneder and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: To address the relationship between innovation and competition we jointly estimate the opportunity, production, and impact functions of innovation in a simultaneous system. Based on Swiss micro-data, we apply a 3-SLS system estimation. The findings confirm a robust inverted-U relationship, in which a rise in the number of competitors at low levels of initial competition increases the firm's research effort, but at a diminishing rate, and the research effort ultimately decreases at high levels of competition. When we split the sample by firm types, the inverted-U shape is steeper for creative firms than for adaptive ones. The numerical solution indicates three particular configurations of interest: 1. an uncontested monopoly with low innovation, 2. low competition with high innovation, and 3. a "no innovation trap" at very high levels of competition. The distinction between solution 1. and 2. corresponds to Arrow's positive effect of competition on innovation, whereas the difference between outcomes 2. and 3. captures Schumpeter's positive effect of market power on innovation. Simulating changes of the exogenous variables, technology potential, demand growth, firm size and exports have a positive impact on innovation, while foreign ownership has a negative effect, and higher appropriability has a positive impact on the number of competitors.
Author :
Publisher :
ISBN 13 :
Total Pages : 43 pages
Book Rating : 4.:/5 (953 download)
Download or read book Competition and Innovation written by and published by . This book was released on 2014 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Peneder
Publisher :
ISBN 13 :
Total Pages : 167 pages
Book Rating : 4.:/5 (847 download)
Download or read book Competition and Innovation written by Michael Peneder and published by . This book was released on 2012 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Roberto Bonfatti
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (13 download)
Download or read book Reconciling the Original Schumpeterian Model with the Observed Inverted-U Relationship Between Competition and Innovation written by Roberto Bonfatti and published by . This book was released on 2018 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical studies have uncovered an inverted-U relationship between product-market competition and innovation. This is inconsistent with the original Schumpeterian Model, where greater competition reduces the profitability of innovation. We show that the model can predict the inverted-U if the innovators' talent is heterogenous, and privately observable. With competition low and profitability high, talented innovators are credit constrained, since others are eager to mimic them. As competition increases, the mimickers become less eager, and talented innovators can invest more. This generates the increasing part of the relationship. With competition high, talented innovators are unconstrained, and the relationship is decreasing.
Download or read book Reconciling the Original Schumpeterian Model with the Observed Inverted-U Relationship Between Competition and Innovation written by and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Luca Lambertini
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (16 download)
Download or read book Cournot Competition and?Green? Innovation written by Luca Lambertini and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Josh Lerner
Publisher : University of Chicago Press
ISBN 13 : 0226473031
Total Pages : 715 pages
Book Rating : 4.2/5 (264 download)
Download or read book The Rate and Direction of Inventive Activity Revisited written by Josh Lerner and published by University of Chicago Press. This book was released on 2012-04-15 with total page 715 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume offers contributions to questions relating to the economics of innovation and technological change. Central to the development of new technologies are institutional environments and among the topics discussed are the roles played by universities and the ways in which the allocation of funds affects innovation.
Author : Armin Schmutzler
Publisher : Now Publishers Inc
ISBN 13 : 1601983840
Total Pages : 86 pages
Book Rating : 4.6/5 (19 download)
Download or read book Is Competition Good for Innovation? written by Armin Schmutzler and published by Now Publishers Inc. This book was released on 2010 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is Competition Good for Innovation? investigates the relation between competition and innovation.
Author : Francesco Guidi
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (931 download)
Download or read book Inverted-U Relationship Between Innovation and Survival written by Francesco Guidi and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Philippe Aghion
Publisher : MIT Press
ISBN 13 : 0262512025
Total Pages : 115 pages
Book Rating : 4.2/5 (625 download)
Download or read book Competition and Growth written by Philippe Aghion and published by MIT Press. This book was released on 2008-01-25 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: Though competition occupies a prominent place in the history of economic thought, among economists today there is still a limited, and sometimes contradictory, understanding of its impact. In Competition and Growth, Philippe Aghion and Rachel Griffith offer the first serious attempt to provide a unified and coherent account of the effect competition policy and deregulated entry has on economic growth. The book takes the form of a dialogue between an applied theorist calling on "Schumpeterian growth" models and a microeconometrician employing new techniques to gauge competition and entry. In each chapter, theoretical models are systematically confronted with empirical data, which either invalidates the models or suggests changes in the modeling strategy. Aghion and Griffith note a fundamental divorce between theorists and empiricists who previously worked on these questions. On one hand, existing models in industrial organization or new growth economics all predict a negative effect of competition on innovation and growth: namely, that competition is bad for growth because it reduces the monopoly rents that reward successful innovators. On the other hand, common wisdom and recent empirical studies point to a positive effect of competition on productivity growth. To reconcile theory and evidence, the authors distinguish between pre- and post-innovation rents, and propose that innovation may be a way to escape competition, an idea that they confront with microeconomic data. The book's detailed analysis should aid scholars and policy makers in understanding how the benefits of tougher competition can be achieved while at the same time mitigating the negative effects competition and imitation may have on some sectors or industries.
