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Conference Paper: Regulatory policies for demand-driven innovation by heterogeneous firms

TitleRegulatory policies for demand-driven innovation by heterogeneous firms
Authors
KeywordsAnalytical results
Business cycles
Dynamic game
Empirical evidence
Income inequality
Issue Date2010
PublisherIEEE, Computer Society. The Journal's web site is located at http://csdl2.computer.org/persagen/DLPublication.jsp?pubtype=p&acronym=HICSS
Citation
The 43rd Hawaii International Conference on System Sciences (HICSS 2010), Honolulu, HI., 5-8 January 2010. In Proceedings of the 43rd HICSS, 2010, p. 1-10 How to Cite?
AbstractWe investigate the innovation rate under the impact of business cycles to understand R&D activities and to derive implications for public policies. Combining price competition and endogenous market structure with the framework of dynamic game, we study the Markov perfect equilibrium where heterogeneous firms choose whether to participate in the innovation race and the innovation rate. Based on the analytical results derived from the price competition, we find that increased income per capita tends to improve aggregate innovation, while incumbents reduce their innovation efforts as more entrants enter the innovation race, the competition pressure increases. Income inequality shocks may reduce or have no impact on innovation, depending on equilibrium region. We find subsidies to reduce innovation incentive, and policies such as tax incentives that reduce the variable R&D costs to have consistently positive effects. Our findings on both the income shocks and policies are consistent with the empirical evidences. © 2010 IEEE.
Persistent Identifierhttp://hdl.handle.net/10722/127331
ISSN
References

 

DC FieldValueLanguage
dc.contributor.authorLin, Men_HK
dc.contributor.authorLi, Sen_HK
dc.contributor.authorWhinston, ABen_HK
dc.date.accessioned2010-10-31T13:19:18Z-
dc.date.available2010-10-31T13:19:18Z-
dc.date.issued2010en_HK
dc.identifier.citationThe 43rd Hawaii International Conference on System Sciences (HICSS 2010), Honolulu, HI., 5-8 January 2010. In Proceedings of the 43rd HICSS, 2010, p. 1-10en_HK
dc.identifier.issn1530-1605en_HK
dc.identifier.urihttp://hdl.handle.net/10722/127331-
dc.description.abstractWe investigate the innovation rate under the impact of business cycles to understand R&D activities and to derive implications for public policies. Combining price competition and endogenous market structure with the framework of dynamic game, we study the Markov perfect equilibrium where heterogeneous firms choose whether to participate in the innovation race and the innovation rate. Based on the analytical results derived from the price competition, we find that increased income per capita tends to improve aggregate innovation, while incumbents reduce their innovation efforts as more entrants enter the innovation race, the competition pressure increases. Income inequality shocks may reduce or have no impact on innovation, depending on equilibrium region. We find subsidies to reduce innovation incentive, and policies such as tax incentives that reduce the variable R&D costs to have consistently positive effects. Our findings on both the income shocks and policies are consistent with the empirical evidences. © 2010 IEEE.en_HK
dc.languageengen_HK
dc.publisherIEEE, Computer Society. The Journal's web site is located at http://csdl2.computer.org/persagen/DLPublication.jsp?pubtype=p&acronym=HICSS-
dc.relation.ispartofProceedings of the Annual Hawaii International Conference on System Sciencesen_HK
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.rightsAnnual Hawaii International Conference on System Sciences Proceedings. Copyright © I E E E, Computer Society.-
dc.rights©2010 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.-
dc.subjectAnalytical results-
dc.subjectBusiness cycles-
dc.subjectDynamic game-
dc.subjectEmpirical evidence-
dc.subjectIncome inequality-
dc.titleRegulatory policies for demand-driven innovation by heterogeneous firmsen_HK
dc.typeConference_Paperen_HK
dc.identifier.emailLin, M: linm@hku.hken_HK
dc.identifier.authorityLin, M=rp01075en_HK
dc.description.naturepublished_or_final_version-
dc.identifier.doi10.1109/HICSS.2010.315en_HK
dc.identifier.scopuseid_2-s2.0-77951743500en_HK
dc.identifier.hkuros173781en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-77951743500&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.spage1-
dc.identifier.epage10-
dc.description.otherThe 43rd Hawaii International Conference on System Sciences (HICSS 2010), Honolulu, HI., 5-8 January 2010. In Proceedings of the 43rd HICSS, 2010, p. 1-10-
dc.identifier.scopusauthoridLin, M=55385535800en_HK
dc.identifier.scopusauthoridLi, S=36006906800en_HK
dc.identifier.scopusauthoridWhinston, AB=7005286020en_HK

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