The long-run dynamics of product and process innovations for a multi-product monopolist

Anton Bondarev*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

9 Citations (Scopus)

Abstract

This paper introduces the dynamical framework which combines product and process innovations. The model contributes to the theoretical literature on innovations in two ways. First, it permits for the simultaneous dynamics of both types of innovations which is rarely considered in the literature. Second, the products being generated by the innovations are heterogeneous in their investment characteristics. This allows for the formation of the dynamic interdependency between both types of innovations. As a result, the steady-state levels of process innovations for each product are different and influence the dynamics of product innovations in turn.

Original languageEnglish
Pages (from-to)775-799
Number of pages25
JournalEconomics of Innovation and New Technology
Volume21
Issue number8
DOIs
Publication statusPublished - Nov 2012
Externally publishedYes

Keywords

  • economic dynamics
  • heterogeneous products
  • multi-product onopoly
  • process innovations
  • product innovations

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