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Leapfrogging: Time of Entry and Firm Productivity
We develop a model in which ex ante identical firms make endogenous entry and technology adoption decisions. We show that this model is capable of matching the stylized facts in which entry and adoption are dispersed over time and that, in many industries, it is the newest firms which are the most l...
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| Xuất bản năm: | MAGKS - Joint Discussion Paper Series in Economics (Band 11-2018) |
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| Những tác giả chính: | , |
| Định dạng: | Bài viết |
| Ngôn ngữ: | Tiếng Anh |
| Được phát hành: |
Philipps-Universität Marburg
2018
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| Những chủ đề: | |
| Truy cập trực tuyến: | Bài toàn văn PDF |
| Các nhãn: |
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| Tóm tắt: | We develop a model in which ex ante identical firms make endogenous entry and technology adoption decisions. We show that this model is capable of matching the stylized facts in which entry and adoption are dispersed over time and that, in many industries, it is the newest firms which are the most likely to exhibit high productivity growth and adopt new innovations (i.e., leapfrogging). We then derive the characteristics of those industries where such leapfrogging is likely to occur and show that leapfrogging can induce reverse preemption (i.e., forward-looking incumbent firms delaying entry and adoption due to leapfrogging behavior). As an application, we demonstrate how, in an industry conducive to leapfrogging, research subsidies can actually reduce short-run consumer welfare by discouraging firms from entering the market with a basic technology. |
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| Mô tả vật lý: | 31 Seiten |
| số ISSN: | 1867-3678 |
| DOI: | 10.17192/es2024.0564 |