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Title:Competition in product design: an experiment exploring innovation behavior PDF Logo
Authors:Cantner, Uwe
Güth, Werner
Nicklisch, Andreas
Weiland, Torsten
Issue Date:2007
Series/Report no.:Jena economic research papers 2007,014
Abstract:We experimentally investigate competition in innovation in a patent race scenario. Pairs of subjects compete as seller firms on a duopoly market, engaging in risky search investments. Successful innovation is rewarded through temporary monopoly rents. Throughout the interaction, subjects receive feedback on own and other’s search success and profit margin. Partitioning subjects into subgroups of investor types reveals that the majority of subjects condition investments on the degree of competition as measured by sales shares, while for others no correlation is ascertained. Heterogeneity in individual risk attitudes and differing experiences with related search tasks may explain this finding.
Subjects:innovation
competition
imitation
patent race
JEL:D81
L11
O31
Document Type:Working Paper
Appears in Collections:Jena Economic Research Papers, MPI für Ökonomik

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