of innovation and technological change. It is argued that, on the one hand, several genuine properties of innovation … dealing with issues of innovation and technological change is given and the contribution of these studies is discussed …

to develop the innovation and the decision to introduce the new product in the market are separated. In our multi … potential innovator strategically over-invests in process innovation in order to push the potential innovator to introduce the …

We employ a dynamic market model with endogenous creation of submarkets to study the optimal product innovation … hazard rate of innovation. We find that under Markov Perfect Equilibrium behavior the firm with a larger market share on the … product has a larger incentive to engage in product innovation and might even achieve higher long run profit than its more …