Competing incremental and breakthrough innovation in a model of product evolution
Competing incremental and breakthrough innovation in a model of product evolution
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DOI：
10.1007/s00712-017-0568-y
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发表时间：
2018-04-01
影响因子：
1.7
通讯作者：
Tomoda, Yasunobu
中科院分区：
文献类型：
--
作者：
Davis, Colin;Tomoda, Yasunobu
本文建立了一个增长模型，在该模型中，产品周期内生于对增量创新和突破性创新的投资。现有公司投资于渐进的技术改进，目的是降低生产成本。市场进入者开发突破性的产品设计，以便从老式产品线中占领市场。这两种创新的竞争目标在创造性破坏的环境中产生了产品周期，因为新产品取代了旧产品，然后使用不断改进的生产技术进行制造。研究创新激励与产品周期平均长度之间的关系，我们描述了三种稳定的产品进化模式：单独的渐进式创新，单独的突破性创新，以及两种类型的创新产品周期。数值例子表明，当市场表现出稳定的产品周期时，对任何一种创新的补贴都会提高经济增长率并改善福利。
This paper develops a growth model in which product cycles arise endogenously from investment in incremental and breakthrough innovations. Incumbent firms invest in incremental technology improvements with the aim of reducing production costs. Market entrants develop breakthrough product designs in order to capture the market from vintage product lines. The competing objectives of the two types of innovation generate product cycles within an environment of creative destruction, as new products displace old and are then manufactured using production technologies that are continuously refined. Investigating the relationship between innovation incentives and the average length of product cycles, we characterized three stable patterns of product evolution: incremental innovation alone, breakthrough innovation alone, and product cycles with both types of innovation. Numerical examples suggest that when the market exhibits stable product cycles, subsidies to either type of innovation raise the rate of economic growth and improve welfare.