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Erscheinungsjahr: 
2003
Schriftenreihe/Nr.: 
Bonn Econ Discussion Papers No. 11/2003
Verlag: 
University of Bonn, Bonn Graduate School of Economics (BGSE), Bonn
Zusammenfassung: 
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.
Schlagwörter: 
Aspiration Adaption
Bounded Rationality
Product Innovation
JEL: 
L11
D21
O31
L25
L21
Dokumentart: 
Working Paper

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