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Technology Lock-In with Horizontal and Vertical Innovations Through Limited R&D Spending
JournalArticle (Originalarbeit in einer wissenschaftlichen Zeitschrift)
 
ID 3963907
Author(s) Bondarev, Anton; Greiner, Alfred
Author(s) at UniBasel Bondarev, Anton
Year 2018
Title Technology Lock-In with Horizontal and Vertical Innovations Through Limited R&D Spending
Journal 4OR - A Quarterly Journal of Operations Research
Volume 16
Number 1
Pages / Article-Number 51-65
Keywords Multiple steady-states · Lock-in · Innovations · R&D constraint · Optimal control
Abstract 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.
Publisher Springer
ISSN/ISBN 1619-4500 ; 1614-2411
URL https://link.springer.com/article/10.1007/s10288-017-0348-0
edoc-URL http://edoc.unibas.ch/56527/
Full Text on edoc No
Digital Object Identifier DOI 10.1007/s10288-017-0348-0
ISI-Number WOS:000426710900004
Document type (ISI) Article
 
   

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