中文版 | English
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来源类型Discussion paper
规范类型论文
来源IDDP8783
DP8783 The Relationship between Market Structure and Innovation in Industry Equilibrium: A Case Study of the Global Automobile Industry
Johannes Van Biesebroeck
发表日期2012
出版年2012
语种英语
摘要We first estimate a dynamic game for the global automobile industry and then compute a Markov Perfect equilibrium to study the equilibrium relationship between market structure and innovation. The key state variable in the model is the efficiency level of each firm and the market structure is characterized by the vector of efficiency levels across all firms. Efficiency is estimated to be stochastically increasing in the dynamic control--innovation--which is proxied by patenting behavior. Equilibrium innovation is a function of all state variables in the industry and the cost of R&D which includes a privately observed cost shock. We find that it exhibits the following patterns: 1) innovation by the industry leader is decreasing in the efficiency of other firms; 2) innovation is decreasing in the efficiency dispersion; 3) innovation is more concentrated that efficiency; 4) innovation is declining in the number of active firms; 5) the innovation gap between the leader and other firms increases with competition.
主题Industrial Organization
关键词Competition Dynamic game Schumpeter
URLhttps://cepr.org/publications/dp8783
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/537619
推荐引用方式
GB/T 7714		 Johannes Van Biesebroeck. DP8783 The Relationship between Market Structure and Innovation in Industry Equilibrium: A Case Study of the Global Automobile Industry. 2012.
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