incumbents. We examine the role in catch-up of late movers' optimal resource allocation between innovation and imitation … either imitation or innovation deters technological leadership change by late movers in the long run, since the leading firms … allocate more R&D resources to innovation and attempt technological leapfrogging. This transition from imitation to innovation …

We examine the role of latecomers’ optimal resource allocation between innovation and imitation in latecomers’ catch … leadership change. The results suggest that one-sided dependency upon either imitation or innovation deters technological … makes imitation a more effective strategy compared to innovation; in addition, while a higher level of cumulativeness tends …