Estimating the Innovator’s Dilemma: Structural Analysis of Creative Destruction in the Hard Disk Drive Industry, 1981–1998

Autor:	Mitsuru Igami
Rok vydání:	2017
Předmět:	Economics and Econometrics Creative destruction 05 social sciences Dilemma Oligopoly Industry dynamics Innovator 0502 economics and business Economics 050207 economics Set (psychology) Cannibalization Industrial organization 050205 econometrics Panel data
Zdroj:	Journal of Political Economy. 125:798-847
ISSN:	1537-534X 0022-3808
DOI:	10.1086/691524
Popis:	This paper studies strategic industry dynamics of creative destruction in which firms and technologies experience turnover. Theories predict that cannibalization between existing and new products delays incumbents’ innovation, whereas preemptive motives accelerate it. Incumbents’ cost (dis)advantage relative to that of entrants would further reinforce these tendencies. To empirically assess these three forces, I estimate a dynamic oligopoly model using a unique panel data set of hard disk drive manufacturers. The results suggest that despite strong preemptive motives and a substantial cost advantage over entrants, cannibalization makes incumbents reluctant to innovate, which can explain at least 57 percent of the incumbent-entrant innovation gap.
Databáze:	OpenAIRE
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