TY - JOUR
T1 - Catching-up and falling behind
T2 - Effects of learning in an R&D differential game with spillovers
AU - Bondarev, Anton
AU - Greiner, Alfred
N1 - Publisher Copyright:
© 2017 Elsevier B.V.
PY - 2018/6
Y1 - 2018/6
N2 - In this paper we analyze the dynamics of an R&D differential game allowing for technological spillovers and sigmoid learning functions of multiproduct oligopolies. We demonstrate how the presence of learning together with spillovers may generate a rich set of outcomes, varying from constant leadership to catching-up and falling behind as well as from technology lock-in to a situation with a large number of high quality products. These types of outcomes are qualitatively different both from the single firm dynamics with learning and from the duopoly case with spillovers and without learning.
AB - In this paper we analyze the dynamics of an R&D differential game allowing for technological spillovers and sigmoid learning functions of multiproduct oligopolies. We demonstrate how the presence of learning together with spillovers may generate a rich set of outcomes, varying from constant leadership to catching-up and falling behind as well as from technology lock-in to a situation with a large number of high quality products. These types of outcomes are qualitatively different both from the single firm dynamics with learning and from the duopoly case with spillovers and without learning.
KW - Differential games
KW - Endogenous market structure
KW - Heterogeneous innovations
KW - Learning by doing
KW - Technological spillovers
UR - http://www.scopus.com/inward/record.url?scp=85033462400&partnerID=8YFLogxK
U2 - 10.1016/j.jedc.2017.10.001
DO - 10.1016/j.jedc.2017.10.001
M3 - Article
AN - SCOPUS:85033462400
SN - 0165-1889
VL - 91
SP - 134
EP - 156
JO - Journal of Economic Dynamics and Control
JF - Journal of Economic Dynamics and Control
ER -