Innovation, Technology and Hypercompetition: Review and Synthesis

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In an increasingly technologically led century, the striking pattern that emerges in firms' innovative activities is that companies compete for a technological leadership position in situations best described as races. In high-technology industries, where customers are willing to pay a premium for advanced technology, leadership translates into increasing returns in the market through positive network externalities. Innovation, Technology and Hypercompetition synthesizes and unifies the various methodological approaches for the industry-specific analysis of fast-changing competitive positions driven by relentless innovation (hypercompetition).

Game-theoretic and agent-based tools are applied to competitive industries in various market settings and in a global context. Rivalry of this sort is seen to extend to the catching up and forging ahead of regions and nations. The book provides the behavioural foundations for what is driving globalization. It will be of interest to a broad range of people, including academic economists, legal experts, management consultants and practitioners.

About the Author:
Hans-Werner Gottinger is at Kwansei Gakuin University, Sanda-Kobe, Japan

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Product Details

Meet the Author

Hans-Werner Gottinger is at Kwansei Gakuin University, Sanda-Kobe, Japan.

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Table of Contents

Foreword     xi
Preface     xiv
Taxonomy of technological racing     1
Introduction     1
Examples of technological races: old and new     4
Strategic interactions and multi-stage racing     8
Specific examples     11
Some caveats and constraints     21
Modelling stochastic innovation races     28
Introduction     28
Characteristics of innovation races     29
Stochastic race in a deterministic decision period     31
The stochastic decision period case     37
Strategic interactions in an innovation race     41
Multi-stage races     42
Stochastic innovation games     43
Conclusions     45
Appendix     47
Statistical indicators of technological hypercompetition     49
Introduction     49
Catch-up or leapfrogging     51
Statistical measurements of industrial racing patterns     54
The Japanese race     59
Further discussion     62
Summary and conclusion     64
Technological racing and competitive structures     67
Introduction     67
The model     70
Parameter scenarios     74
Equilibrium strategies and payoffs     78
Welfare analysis     84
Conclusions     90
Technological racing in asymmetric industry settings     93
Introduction     93
A model for multi-stage racing     96
Consideration of asymmetries     106
Perspectives on multi-stage races     109
Further discussion     112
Conclusion     114
Appendix     116
Stochastic racing and competition in network markets     124
Introduction     124
Market histories     126
Asymmetry of market evolution     129
Modelling technology racing in a network     131
Extensions and conclusions     135
Appendix     137
High-speed technology competition     144
Introduction     144
A differential game formulation     146
A sequential differential game between two competing firms     148
Analysis of the model and discussion     151
Firm asymmetries     155
Conclusions     157
Appendix     159
Dynamic rivalry in technology platforms      164
Introduction     164
Patenting, licensing and open-source technologies     167
Network competition under licensing     170
Equilibrium licensing     172
Conclusions and extensions     176
Appendix     179
Technological competition with product differentiation     186
Introduction     186
A review of technological competition and market structure     188
A simple model     190
First period competition     191
Interperiod competition     193
Notes on cooperative R&D in a competitive market     197
Conclusions     201
Appendix     202
Competition in increasing returns and network industries     206
Introduction to increasing returns     206
Supply-side scale economies     207
Schumpeterian mechanism     208
Increasing returns and ergodic markets     215
Technological competition under uncertainty and inertia     217
Standards and increasing returns     220
Network externalities     220
A summary on increasing returns in industrial competition     221
Conclusions: increasing return mechanisms and technological competition     222
Strategy and alliance formation     228
Introduction     228
The dilemma of strategy: commitment, uncertainty and change     229
Strategy and transaction cost economics     232
Corporate governance     234
The driving forces behind alliance formation     236
Three dimensions of network formation     237
The temporal dimension: representing change over time     242
Aggregate technological racing: economic growth, catching up, falling behind and getting ahead     246
Introduction     246
Economic development: backwardness and catch-up     249
Neoclassical versus endogenous growth models     252
Aggregate leapfrogging     253
Industrial racing between nations     255
Modelling technology adoption in an endogenized growth model     257
Conclusions     265
Index     270
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