Technology lock-in with horizontal and vertical innovations through limited R&D spending

Bondarev A, Greiner A (2018)
4OR-A QUARTERLY JOURNAL OF OPERATIONS RESEARCH 16(1): 51-65.

Zeitschriftenaufsatz | Veröffentlicht | Englisch
 
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Autor/in
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Abstract / Bemerkung
In this paper we analyze an inter-temporal optimization problem of a representative firm that invests in horizontal and vertical innovations and that faces a constraint with respect to total R&D spending. We find that there can exist two different steady-states of the economy when the amount of research spending falls short of an endogenously determined threshold: one with higher productivities and less new technologies being developed, and the other with more technologies being created and lower productivities. But, for a higher amount of R&D spending the steady-state becomes unique and the firm produces the whole spectrum of available technologies. Thus, a lock-in effect may arise that, however, can be overcome by raising R&D spending sufficiently.
Stichworte
Multiple steady-states; Lock-in; Innovations; R&D constraint; Optimal; control
Erscheinungsjahr
2018
Zeitschriftentitel
4OR-A QUARTERLY JOURNAL OF OPERATIONS RESEARCH
Band
16
Ausgabe
1
Seite(n)
51-65
ISSN
1619-4500
eISSN
1614-2411
Page URI
https://pub.uni-bielefeld.de/record/2919067

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Bondarev A, Greiner A. Technology lock-in with horizontal and vertical innovations through limited R&D spending. 4OR-A QUARTERLY JOURNAL OF OPERATIONS RESEARCH. 2018;16(1):51-65.
Bondarev, A., & Greiner, A. (2018). Technology lock-in with horizontal and vertical innovations through limited R&D spending. 4OR-A QUARTERLY JOURNAL OF OPERATIONS RESEARCH, 16(1), 51-65. doi:10.1007/s10288-017-0348-0
Bondarev, A., and Greiner, A. (2018). Technology lock-in with horizontal and vertical innovations through limited R&D spending. 4OR-A QUARTERLY JOURNAL OF OPERATIONS RESEARCH 16, 51-65.
Bondarev, A., & Greiner, A., 2018. Technology lock-in with horizontal and vertical innovations through limited R&D spending. 4OR-A QUARTERLY JOURNAL OF OPERATIONS RESEARCH, 16(1), p 51-65.
A. Bondarev and A. Greiner, “Technology lock-in with horizontal and vertical innovations through limited R&D spending”, 4OR-A QUARTERLY JOURNAL OF OPERATIONS RESEARCH, vol. 16, 2018, pp. 51-65.
Bondarev, A., Greiner, A.: Technology lock-in with horizontal and vertical innovations through limited R&D spending. 4OR-A QUARTERLY JOURNAL OF OPERATIONS RESEARCH. 16, 51-65 (2018).
Bondarev, Anton, and Greiner, Alfred. “Technology lock-in with horizontal and vertical innovations through limited R&D spending”. 4OR-A QUARTERLY JOURNAL OF OPERATIONS RESEARCH 16.1 (2018): 51-65.