Product And Process Innovations In A Horizontally Differentiated Product Market

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Product And Process Innovations In A Horizontally Differentiated Product Market

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Author : Pia Weiss
language : en
Publisher:
Release Date : 2014

Product And Process Innovations In A Horizontally Differentiated Product Market written by Pia Weiss and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.

For horizontal product differentiation, the paper examines the effects of the level of competition on the firm's decision between a product and process innovation. When firms have to choose between the two types of innovation, it is demonstrated that both firms undertake the product innovation when the competition is intense, they choose different investment projects in intermediate competition, and they pursue cost-reducing innovations when competition is less intense. If firms may pursue both innovations, they mix the types depending on the innovation cost structure. Again, firms incur higher costs into product innovations, when the competition is initially intense.

The Microeconomics Of Product Innovation

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Author : Paul Stoneman
language : en
Publisher: Oxford University Press
Release Date : 2018-02-22

The Microeconomics Of Product Innovation written by Paul Stoneman and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-22 with Business & Economics categories.

Economics has not given sufficient attention to the microeconomic analysis of innovation and technological change. Counteracting this imbalance, The Microeconomics of Product Innovation considers how the use of economic analysis can guide and inform the search for insight in the generation and adoption of new products synonymously labelled product innovation. Written in an accessible tone and restricting its analysis to the use of microeconomics, this book encompasses the definition of product innovation. It explores means of measurement and revealed patterns of the extent of product innovation; the economic analysis of the forces driving the demand for, the supply of, and incentives to generate new products; empirical evidence upon the determinants of the extent of product innovation; the diffusion of product innovations; product innovation and firm performance; price measurement under product innovation; product innovation and welfare; and public policy and product innovation.

Adoption Of Product And Process Innovations In Differentiated Markets

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Author : Pia Weiss
language : en
Publisher:
Release Date : 2014

Adoption Of Product And Process Innovations In Differentiated Markets written by Pia Weiss and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.

The paper examines the effects of the degree of competition on the firms' decision to innovate in differentiated markets. We find that a low (high) degree of product differentiation (competition) weakly supports the introduction of new products. Firms' weakly favour a process innovation if the degree of product differentiation (competition) is high (low). In addition, assumptions on the strategic complementarity of product and process innovations and on the decreasing returns of a product innovation are found to be the critical assumptions in the sense of Milgrom and Roberts (1994).

Product Innovation Product Diversification And Firm Growth

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Author : Sergeĭ Vladimirovich Braginskiĭ
language : en
Publisher:
Release Date : 2020

Product Innovation Product Diversification And Firm Growth written by Sergeĭ Vladimirovich Braginskiĭ and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Cotton spinning categories.

We explore how firms grow by adding products. In contrast to most earlier work on the topic, our conceptual and empirical framework allows for separate treatment of product innovation (vertical differentiation) and diversification (horizontal differentiation). The market context is Japan's cotton spinning industry at the turn of the last century. We find that introducing innovative products outside of the previously feasible set involves removing the "supply-side constraint" by investing in new types of machines and technologies. This process involves a high degree of uncertainty, however, so firms that take steps in this direction tend to first introduce innovative products on experimental basis. We show that conducting such experiments is a key to firm growth. It not only provides opportunities to capture the market in high-end vertically differentiated products when successful, but also facilitates horizontal differentiation of the firm's products within its previous technical capabilities. In long-term outcomes over 20 years, the right tail of the firm size distribution becomes dominated by firms that were able to expand in both directions: moving first into technologically challenging vertically differentiated products, and then later applying their newly acquired high-end technical competence to horizontal expansion of their product portfolios.

Multi Stage Innovations

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Author : Herbert Dawid
language : en
Publisher:
Release Date : 2015

Multi Stage Innovations written by Herbert Dawid and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.

We consider a quantity-setting duopoly model with both firms having the possibility to produce a homogeneous product. Firm 1 has the option to carry out a product innovation project in two stages and in between the two stages Firm 2 can invest in cost-reducing process innovation. Hence, Firm 1's incentive to complete the innovation of the horizontally and vertically differentiated new product is influenced by Firm 2's process innovation activities. Our results are as follows. First, we find that under weak vertical differentiation Firm 2 wants Firm 1 to innovate. Horizontal differentiation softens competition and Firm 2 over-invests in process innovation to induce Firm 1 to launch the new product. Second, under strong vertical differentiation Firm 1 starts the product innovation project - triggering under-investment by Firm 2 - but never finishes it. The under-investment leads to higher production costs for Firm 2, which induces Firm 1 not to innovate. Third, under very strong vertical differentiation Firm 2 prevents a launch of the new product by overinvesting in process innovation. Due to the strong decrease in production costs Firm 2 captures such a big market share that Firm 1 will not introduce the new product. However, since its situation in the old market also has become worse, Firm 1's value of the option to innovate is negative.

Process And Product Innovation In A Vertically Differentiated Industry

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Author : Emanuele Bacchiega
language : en
Publisher:
Release Date : 2013

Process And Product Innovation In A Vertically Differentiated Industry written by Emanuele Bacchiega and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.

We examine a vertically differentiated duopoly where firms invest in process and product innovation and then compete in prices under full market coverage. We show that (i) process and product innovation are complements (substitutes) for the low-quality (high-quality) firm; (ii) the firm which is initially more efficient invests more than the rival in process innovation; (iii) if the initial differential between marginal costs is sufficiently high, the demand for the less efficient firm is nil and the duopoly equilibrium does not exist. Finally, we investigate the feasibility of Ramp;D cooperation for process innovation.

Adoption Of A Product Innovation In The Presence Of Vertical Product Differentiation

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Author : Shiou Shieh
language : en
Publisher:
Release Date : 1995

Adoption Of A Product Innovation In The Presence Of Vertical Product Differentiation written by Shiou Shieh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Diversification in industry categories.

Trash It Or Sell It A Strategic Analysis Of The Market Introduction Of Product Innovations

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Author : Herbert Dawid
language : en
Publisher:
Release Date : 2014

Trash It Or Sell It A Strategic Analysis Of The Market Introduction Of Product Innovations written by Herbert Dawid and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.

In this paper a quantity-setting duopoly is considered where one firm develops a new product which is horizontally differentiated from the existing product. The main question examined is which strategically important effects occur if the decision to develop the innovation and the decision to introduce the new product in the market are separated. In our multi-stage game the firm's launch decision is explicitly taken into account and we find an equilibrium where the competitor of the potential innovator strategically over-invests in process innovation. In this equilibrium the competitor over-invests in order to push the potential innovator to introduce the new product since this reduces the competition for the existing product. It is shown that this effect has positive welfare implications in comparison with the case where the innovator commits ex ante to launching the new product.

New Product Development

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Author : Sameer Kumar
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-10-28

New Product Development written by Sameer Kumar and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-10-28 with Technology & Engineering categories.

The challenge of managing a business enterprise today is to ensure that it can remain efficient and competitive in a dynamic marketplace characterized by high competition, unstable demands, heterogeneous market segments, and short product life cycles. Increasing the pace of new product introduction enables dealing with shorter product lives. To sustain competitiveness, a firm has to be innovative as well as quick to respond to the changing customer needs in order to provide better and faster products to market than competitors. New product development (NPD) is considered as a process of learning. Successful NPD projects typically rely on knowledge and experience of multi-function teams. In addition to corporate strategy and organization learning, the external factors such as, market and competitive conditions also play a big role in driving business strategies. The results from the empirical research study reported shows that companies implementing innovation strategy are more competitive in the long run while those that follow customer-responsive strategy are more likely to have higher return on investment within a shorter time. In order to achieve both sustainable competencies and also meet customer needs in the changing market environment today, a company should adapt to the benefits of both strategies.

The Microeconomics Of Product Innovation

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Author : Paul Stoneman
language : en
Publisher: Oxford University Press
Release Date : 2018-02-22

The Microeconomics Of Product Innovation written by Paul Stoneman and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-22 with Business & Economics categories.

Economics has not given sufficient attention to the microeconomic analysis of innovation and technological change. Counteracting this imbalance, The Microeconomics of Product Innovation considers how the use of economic analysis can guide and inform the search for insight in the generation and adoption of new products synonymously labelled product innovation. Written in an accessible tone and restricting its analysis to the use of microeconomics, this book encompasses the definition of product innovation. It explores means of measurement and revealed patterns of the extent of product innovation; the economic analysis of the forces driving the demand for, the supply of, and incentives to generate new products; empirical evidence upon the determinants of the extent of product innovation; the diffusion of product innovations; product innovation and firm performance; price measurement under product innovation; product innovation and welfare; and public policy and product innovation.