Innovation waves, self-organized criticality and technological convergence

Autor:	Franco Nardini, Rainer Andergassen, Massimo Ricottilli
Rok vydání:	2006
Předmět:	Organizational Behavior and Human Resource Management Economics and Econometrics Profit rate Creative destruction Technological change media_common.quotation_subject Economic rent Normal level Technological convergence Self-organized criticality Microeconomics Obsolescence Economics media_common
Zdroj:	Journal of Economic Behavior & Organization. 61:710-728
ISSN:	0167-2681
DOI:	10.1016/j.jebo.2004.07.009
Popis:	The purpose of this paper is to investigate the evolutionary process of imitation and innovation as a process of searching in a given neighbourhood of firms. The spreading of information through neighbourhoods allows firms to acquire knowledge leading to innovation waves followed by imitation as firms attempt to glean information on best practise techniques. Whilst innovators are temporarily allowed to reap quasi rents, the imitative band wagon effect drives the profit rate down to its normal level. Productivity growth lowers the prices of sectors involved in the process of technological advance, causing obsolescence and creative destruction in a Schumpeterian sense.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::f5aa72c2b842aba4be2af81249d8e8fb https://doi.org/10.1016/j.jebo.2004.07.009 Zobrazit plný text záznamu Full Text from ScienceDirect