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On the dynamics of innovators and imitators

Author

Listed:
  • Cerqueti, Roy
  • Tramontanta, Fabio
  • Ventura, Marco
Abstract
After deriving a model describing the law of evolution of innovators and imitators the article focuses on their relationships under two different scenarios: prey-predator, in which innovators are regarded as preys, and competing species. Analytic results show that among the feasible equilibria the coexistence equilibrium is the only stable equilibrium under the fi�rst scenario. We also �find conditions on the parameters allowing local stability of the coexistence equilibrium in the second scenario. Such conditions imply the existence of an inverse-U shaped relationship between innovation and imitation.

Suggested Citation

  • Cerqueti, Roy & Tramontanta, Fabio & Ventura, Marco, 2012. "On the dynamics of innovators and imitators," MPRA Paper 38949, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:38949
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    File URL: https://mpra.ub.uni-muenchen.de/40424/1/MPRA_paper_40424.pdf
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Sgrignoli, P. & Agliari, E. & Burioni, R. & Schianchi, A., 2015. "Instability and network effects in innovative markets," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 108(C), pages 260-271.

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    More about this item

    Keywords

    Imitation; innovation; intellectual property rights; Lotka-Volterra system;
    All these keywords.

    JEL classification:

    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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