Innovation, imitation and policy inaction. Cerqueti, R., Quaranta, A. G., & Ventura, M. Technological Forecasting and Social Change. ![Innovation, imitation and policy inaction [link]](https://bibbase.org/img/filetypes/link.svg "link")
Paper doi abstract bibtex The paper deals with the controversial issue of intellectual property rights. We deal with an optimization problem to model the optimal government's behavior in presence of dynamic uncertainty and intervention costs. More specifically, we search for the optimal strategies to be implemented by a policy maker to optimally balance the number of innovators and imitators. The problem is first tackled from a purely theoretical perspective and then by implementing extensive numerical simulations on the basis of empirical data. By the theoretical perspective, we obtain a rigorous proof that optimal strategies depend on the initial value of the number of imitators and not on the initial ratio between innovators and imitators, whereas the simulations provide us with intuitive insights from an economic point of view, along with a validation of the theoretical results. The results support the evidence that governments choose the possible widest bandwidth and minimize the size of interventions so as to curb intervention costs.
@article{cerqueti_innovation_????,
title = {Innovation, imitation and policy inaction},
issn = {0040-1625},
url = {http://www.sciencedirect.com/science/article/pii/S0040162516301081},
doi = {10.1016/j.techfore.2016.06.001},
abstract = {The paper deals with the controversial issue of intellectual property rights. We deal with an optimization problem to model the optimal government's behavior in presence of dynamic uncertainty and intervention costs. More specifically, we search for the optimal strategies to be implemented by a policy maker to optimally balance the number of innovators and imitators. The problem is first tackled from a purely theoretical perspective and then by implementing extensive numerical simulations on the basis of empirical data. By the theoretical perspective, we obtain a rigorous proof that optimal strategies depend on the initial value of the number of imitators and not on the initial ratio between innovators and imitators, whereas the simulations provide us with intuitive insights from an economic point of view, along with a validation of the theoretical results. The results support the evidence that governments choose the possible widest bandwidth and minimize the size of interventions so as to curb intervention costs.},
urldate = {2016-06-20},
journal = {Technological Forecasting and Social Change},
author = {Cerqueti, Roy and Quaranta, Anna Grazia and Ventura, Marco},
keywords = {Imitation, Inaction region, Innovation, Intellectual property, Numerical simulation, Optimization model},
file = {ScienceDirect Full Text PDF:files/54920/Cerqueti et al. - Innovation, imitation and policy inaction.pdf:application/pdf;ScienceDirect Snapshot:files/54921/S0040162516301081.html:text/html}
}
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