Template-type: ReDIF-Paper 1.0
Author-Name: Cevikarslan, Salih
Author-Email: s.cevikarslan@maastrichtuniversity.nl
Author-Workplace-Name: UNU-MERIT, and SBE, Maastricht University
Title: Heterogeneity in innovation strategies, evolving consumer preferences and market 
	 structure: An evolutionary multi-agent based modelling approach
Abstract: The aims of this paper are twofold. The first is to analyse the 
	 interaction between research and development (R&D) activities of firms 
	 and heterogeneous consumer preferences in structuring the evolution of 
	 an industry. The second is to explore the heterogeneity in firms' 
	 innovation strategies. Is heterogeneity sustainable in the long-term and 
	 what happens to the market shares of firms having different innovation 
	 strategies when a structural market characteristic (market size) or a 
	 behavioural rule (R&D intensity) is changed? To answer these research 
	 questions, an evolutionary, multi-agent based, sector-level innovation 
	 model is designed. The model addresses supply and demand sides of the 
	 market simultaneously with the co-evolution of heterogeneous consumer 
	 preferences, heterogeneous firm knowledge bases, and technology levels 
	 at the micro level.    
Classification-JEL: B52, L11, O33
Keywords: Heterogeneity, innovation strategies, evolutionary economics, agent-based modelling
Series: UNU-MERIT Working Papers
Creation-Date: 2013
Number: 2013-019
File-URL: https://unu-merit.nl/publications/wppdf/2013/wp2013-019.pdf
File-Format: application/pdf
File-Size: 275 Kb
Handle: RePEc:unm:unumer:2013019