Evolutionary trends of industry variables

Article Abstract:

The Gort and Klepper (1982) analysis of the product market's life cycle has been extended to assess the evolutionary pattern of industry variables, such as product price and quantity, and time path of patents. Patent activity for non-technical products is found to be low and high for technical products. In addition, patenting is high when there is an agglomeration of firms driven by competition and advances in technology as the product market reaches its later stages. Price declines with product age while the number of products to market sustain a steady growth.

Product Development, Models, Markets (Economics), Product life cycle, Industry, Industries

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Spatial competition, monopolistic competition, and optimum product diversity

Article Abstract:

Profits due to locational advantage can be dissipated by competition over entry time in a dynamic setting. A circle model has been used to examine the economic effects of spatial competition among companies. It has been argued that in actual cases of spatial competition, the assumption that cost of movement can be neglected is quite unrealistic since location changes or any physical movement of goods or place of production will always incur costs. No matter how sizeable the estimated profits are, overhead costs will outrun profits.

Employee Relocation Procedures, Analysis, Competition (Economics), Business relocation, Business economics, Managerial economics, Employee relocation

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Patents or prizes: monopolistic R&D and asymmetric information

Article Abstract:

The effectivity of patents as incentives for the research and development (R&D) efforts of firms decreases if the government offering the prize has less information regarding the market for the innovation. However, efficiency of the patent or a research prize does not change if the firms developed the innovation through private information. The model was formulated under the assumption that there are two types of asymmetric information on the use of patents and prizes as R&D incentive tools.

Evaluation, Industrial research, Patents

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