The dynamic approach to heterogeneous innovations [Elektronische Ressource] / Anton Bondarev. Fakultät für Wirtschaftswissenschaften. Institut für mathematische Wirtschaftsforschung

The Dynamic Approach to HeterogeneousInnovations(Anton Bondarev)The author thanks H. Dawid, F. Riedel, J.-M. Bonniseau and I. G. Pospelov.Abstract. In this work the dynamical framework which combines di erentaspects of innovative activity is analyzed. First the basic model with nitetime horizon is constructed where the single agent (planner) is optimizing hisstream of investments into the process of creation of new products togetherwith investments into the improvement of already invented products. Therange of products which might be invented is given by the bounded real inter-val. Next the role of heterogeneity of the investment characteristics of thesenew products is analyzed and it is demonstrated that this heterogeneity playsthe essential role in the dynamics of the model. Further on the analysis isextended to account for long-run behavior of the planner on the in nite-timehorizon. Steady-states of the system are derived and their stability is ana-lyzed. Two following chapters of the work deal with two di erent extensionsof the basic model. Possibilities for further analysis of the given approach andthe di erence in conclusions and policy implications with earlierhesto innovations’ analysis are demonstrated. First the e ect of patenting policyon the innovative activity is taken into account.