Market structure and Schumpeterian growth
We present a discrete-time version of a Schumpeterian growth model. A natural R&D analogue to constant returns to scale implies a Poisson production function with diminishing marginal product. Surprisingly, the industry demand for R&D inputs does not depend on the number of firms in the R&am...
Gespeichert in:
| Veröffentlicht in: | Journal of economic behavior & organization 2007, Vol.62 (1), p.47-62 |
|---|---|
| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 62 |
|---|---|
| container_issue | 1 |
| container_start_page | 47 |
| container_title | Journal of economic behavior & organization |
| container_volume | 62 |
| creator | Lambson, Val E. Phillips, Kerk L. |
| description | We present a discrete-time version of a Schumpeterian growth model. A natural R&D analogue to constant returns to scale implies a Poisson production function with diminishing marginal product.
Surprisingly, the industry demand for R&D inputs does not depend on the number of firms in the R&D sector if Bertrand competition ensues following ties. In contrast, demand is higher if ties result in collusion.
In general equilibrium, Bertrand competition leads to random switching between monopoly and competitive production. Under collusion, production is always at the monopoly level, but there is faster growth. Numerical simulations suggest that this leads to higher welfare. |
| doi_str_mv | 10.1016/j.jebo.2004.09.014 |
| format | Article |
| fullrecord | <record><control><sourceid>proquest_cross</sourceid><recordid>TN_cdi_proquest_miscellaneous_36475284</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><els_id>S0167268105001964</els_id><sourcerecordid>1186108021</sourcerecordid><originalsourceid>FETCH-LOGICAL-c529t-66aac4080675084fd9f9808494fc569d429bd009c2ca4853657bc63bdb30b1623</originalsourceid><addsrcrecordid>eNp9kEFLxDAQhYMouK7-AU_Fg-ChNUnTpAEvIuoKigf1HNJ06rbutjVJFf-9s6x48GDgZQL53szwCDlmNGOUyfMu66AaMk6pyKjOKBM7ZMZKpVOmCrZLZgiplMuS7ZODEDqKR3E9I2cP1r9BTEL0k4uTh8T2dfLkltN6hAi-tX3y6ofPuDwke41dBTj6qXPycnP9fLVI7x9v764u71NXcB1TKa11gpZUqoKWoql1o0t8aNG4QupacF3VlGrHnRVlkctCVU7mVV3ltGKS53Nyuu07-uF9ghDNug0OVivbwzAFk0uhCl4KBE_-gN0w-R53MzzHiUrkBUJ8Czk_hOChMaNv19Z_GUbNJjrTmU10ZhOdodpgdGhabE0eRnC_DgDYoP7VfJjcSo7XFwqdCkuLYqgRJZTB72VcY6uLbSvAyD5a8Ca4FnoHdevBRVMP7X-bfANXyY3u</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>230847435</pqid></control><display><type>article</type><title>Market structure and Schumpeterian growth</title><source>RePEc</source><source>Applied Social Sciences Index & Abstracts (ASSIA)</source><source>Access via ScienceDirect (Elsevier)</source><creator>Lambson, Val E. ; Phillips, Kerk L.</creator><creatorcontrib>Lambson, Val E. ; Phillips, Kerk L.</creatorcontrib><description>We present a discrete-time version of a Schumpeterian growth model. A natural R&D analogue to constant returns to scale implies a Poisson production function with diminishing marginal product.
Surprisingly, the industry demand for R&D inputs does not depend on the number of firms in the R&D sector if Bertrand competition ensues following ties. In contrast, demand is higher if ties result in collusion.
In general equilibrium, Bertrand competition leads to random switching between monopoly and competitive production. Under collusion, production is always at the monopoly level, but there is faster growth. Numerical simulations suggest that this leads to higher welfare.</description><identifier>ISSN: 0167-2681</identifier><identifier>EISSN: 1879-1751</identifier><identifier>DOI: 10.1016/j.jebo.2004.09.014</identifier><identifier>CODEN: JEBOD9</identifier><language>eng</language><publisher>Amsterdam: Elsevier B.V</publisher><subject>Business economics ; Demand functions ; Enterprises ; Firm theory ; Growth ; Growth models ; Growth rates ; Market structure ; Poisson distribution ; Research and development ; Studies</subject><ispartof>Journal of economic behavior & organization, 2007, Vol.62 (1), p.47-62</ispartof><rights>2005 Elsevier B.V.</rights><rights>Copyright Elsevier Sequoia S.A. Jan 2007</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c529t-66aac4080675084fd9f9808494fc569d429bd009c2ca4853657bc63bdb30b1623</citedby><cites>FETCH-LOGICAL-c529t-66aac4080675084fd9f9808494fc569d429bd009c2ca4853657bc63bdb30b1623</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://dx.doi.org/10.1016/j.jebo.2004.09.014$$EHTML$$P50$$Gelsevier$$H</linktohtml><link.rule.ids>314,780,784,3550,4008,4024,27923,27924,27925,30999,45995</link.rule.ids><backlink>$$Uhttp://econpapers.repec.org/article/eeejeborg/v_3a62_3ay_3a2007_3ai_3a1_3ap_3a47-62.htm$$DView record in RePEc$$Hfree_for_read</backlink></links><search><creatorcontrib>Lambson, Val E.</creatorcontrib><creatorcontrib>Phillips, Kerk L.</creatorcontrib><title>Market structure and Schumpeterian growth</title><title>Journal of economic behavior & organization</title><description>We present a discrete-time version of a Schumpeterian growth model. A natural R&D analogue to constant returns to scale implies a Poisson production function with diminishing marginal product.
Surprisingly, the industry demand for R&D inputs does not depend on the number of firms in the R&D sector if Bertrand competition ensues following ties. In contrast, demand is higher if ties result in collusion.
In general equilibrium, Bertrand competition leads to random switching between monopoly and competitive production. Under collusion, production is always at the monopoly level, but there is faster growth. Numerical simulations suggest that this leads to higher welfare.</description><subject>Business economics</subject><subject>Demand functions</subject><subject>Enterprises</subject><subject>Firm theory</subject><subject>Growth</subject><subject>Growth models</subject><subject>Growth rates</subject><subject>Market structure</subject><subject>Poisson distribution</subject><subject>Research and development</subject><subject>Studies</subject><issn>0167-2681</issn><issn>1879-1751</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2007</creationdate><recordtype>article</recordtype><sourceid>X2L</sourceid><sourceid>7QJ</sourceid><recordid>eNp9kEFLxDAQhYMouK7-AU_Fg-ChNUnTpAEvIuoKigf1HNJ06rbutjVJFf-9s6x48GDgZQL53szwCDlmNGOUyfMu66AaMk6pyKjOKBM7ZMZKpVOmCrZLZgiplMuS7ZODEDqKR3E9I2cP1r9BTEL0k4uTh8T2dfLkltN6hAi-tX3y6ofPuDwke41dBTj6qXPycnP9fLVI7x9v764u71NXcB1TKa11gpZUqoKWoql1o0t8aNG4QupacF3VlGrHnRVlkctCVU7mVV3ltGKS53Nyuu07-uF9ghDNug0OVivbwzAFk0uhCl4KBE_-gN0w-R53MzzHiUrkBUJ8Czk_hOChMaNv19Z_GUbNJjrTmU10ZhOdodpgdGhabE0eRnC_DgDYoP7VfJjcSo7XFwqdCkuLYqgRJZTB72VcY6uLbSvAyD5a8Ca4FnoHdevBRVMP7X-bfANXyY3u</recordid><startdate>2007</startdate><enddate>2007</enddate><creator>Lambson, Val E.</creator><creator>Phillips, Kerk L.</creator><general>Elsevier B.V</general><general>Elsevier</general><general>Elsevier Sequoia S.A</general><scope>DKI</scope><scope>X2L</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>7QJ</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>2007</creationdate><title>Market structure and Schumpeterian growth</title><author>Lambson, Val E. ; Phillips, Kerk L.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c529t-66aac4080675084fd9f9808494fc569d429bd009c2ca4853657bc63bdb30b1623</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2007</creationdate><topic>Business economics</topic><topic>Demand functions</topic><topic>Enterprises</topic><topic>Firm theory</topic><topic>Growth</topic><topic>Growth models</topic><topic>Growth rates</topic><topic>Market structure</topic><topic>Poisson distribution</topic><topic>Research and development</topic><topic>Studies</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Lambson, Val E.</creatorcontrib><creatorcontrib>Phillips, Kerk L.</creatorcontrib><collection>RePEc IDEAS</collection><collection>RePEc</collection><collection>CrossRef</collection><collection>Applied Social Sciences Index & Abstracts (ASSIA)</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Journal of economic behavior & organization</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Lambson, Val E.</au><au>Phillips, Kerk L.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Market structure and Schumpeterian growth</atitle><jtitle>Journal of economic behavior & organization</jtitle><date>2007</date><risdate>2007</risdate><volume>62</volume><issue>1</issue><spage>47</spage><epage>62</epage><pages>47-62</pages><issn>0167-2681</issn><eissn>1879-1751</eissn><coden>JEBOD9</coden><abstract>We present a discrete-time version of a Schumpeterian growth model. A natural R&D analogue to constant returns to scale implies a Poisson production function with diminishing marginal product.
Surprisingly, the industry demand for R&D inputs does not depend on the number of firms in the R&D sector if Bertrand competition ensues following ties. In contrast, demand is higher if ties result in collusion.
In general equilibrium, Bertrand competition leads to random switching between monopoly and competitive production. Under collusion, production is always at the monopoly level, but there is faster growth. Numerical simulations suggest that this leads to higher welfare.</abstract><cop>Amsterdam</cop><pub>Elsevier B.V</pub><doi>10.1016/j.jebo.2004.09.014</doi><tpages>16</tpages><oa>free_for_read</oa></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0167-2681 |
| ispartof | Journal of economic behavior & organization, 2007, Vol.62 (1), p.47-62 |
| issn | 0167-2681 1879-1751 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_36475284 |
| source | RePEc; Applied Social Sciences Index & Abstracts (ASSIA); Access via ScienceDirect (Elsevier) |
| subjects | Business economics Demand functions Enterprises Firm theory Growth Growth models Growth rates Market structure Poisson distribution Research and development Studies |
| title | Market structure and Schumpeterian growth |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2024-12-21T18%3A34%3A33IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_cross&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Market%20structure%20and%20Schumpeterian%20growth&rft.jtitle=Journal%20of%20economic%20behavior%20&%20organization&rft.au=Lambson,%20Val%20E.&rft.date=2007&rft.volume=62&rft.issue=1&rft.spage=47&rft.epage=62&rft.pages=47-62&rft.issn=0167-2681&rft.eissn=1879-1751&rft.coden=JEBOD9&rft_id=info:doi/10.1016/j.jebo.2004.09.014&rft_dat=%3Cproquest_cross%3E1186108021%3C/proquest_cross%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=230847435&rft_id=info:pmid/&rft_els_id=S0167268105001964&rfr_iscdi=true |