| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5054736 | Economic Modelling | 2013 | 4 Pages |
Abstract
This paper shows that innovation (or Schumpeter's) cycles can be demonstrated in a discrete and finite dynamic game of innovation and imitation. We find that the cycles depend crucially on whether imitation is a credible threat and hence, we conclude that strategic interactions are sufficient to generate cycles in an innovation game.
⺠A finite discrete dynamic game of innovation is constructed. ⺠The cyclical behavior of innovation is explained. ⺠We find that strategic interactions lead to cycles.
Keywords
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Economics, Econometrics and Finance
Economics and Econometrics
Authors
Shravan Luckraz,