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Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn >
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http://hdl.handle.net/10419/22861
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| Title: | | An Aspiration Adaptation Based Model of the Timing of Product Innovation  |
| Authors: | | Pittnauer, Sabine Hohnisch, Martin Stauffer, Dietrich |
| Issue Date: | | 2003 |
| Series/Report no.: | | Bonn econ discussion papers 2003,11 |
| Abstract: | | This paper applies the theory of aspiration adaptation to industrial economics. It is motivated by the question, frequently raised in the context of theoretical and empirical research on industrial innovation, of what triggers a firm`s innovative activity. We develop a model of the management`s decision-making relating a firm`s competitive behavior, in particular the decision to start the development of a new product generation, to the current and past values of the firm`s growth rate and profitability. This linkage offers an alternative perspective on the incentives for innovation. Furthermore, we explore the relationship between firm size and innovativeness resulting from our model. |
| Subjects: | | Aspiration Adaption Bounded Rationality Product Innovation |
| JEL: | | L11 D21 O31 L25 L21 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn
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