On the dynamics of innovators and imitators

Cerqueti, Roy and Tramontana, Fabio and Ventura, Marco (2012): On the dynamics of innovators and imitators.

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Imitation, innovation, intellectual property rights, Lotka-Volterra system
• Subjects: C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O34 - Intellectual Property and Intellectual Capital; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O33 - Technological Change: Choices and Consequences ; Diffusion Processes; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O31 - Innovation and Invention: Processes and Incentives

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