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SECS-S/06 METODI MATEMATICI DELL'ECONOMIA E DELLE SCIENZE ATTUARIALI E FINANZIARIE
Rainer Andergassen, Franco Nardini and Massimo Ricottilli (ANR)
will work on the dynamics of innovation investment. At the root of growth
waves driven by innovation arrivals and then prompted by imitation, lies
the opportunity provided by increasing productivity resulting from
technological progress. Researchers (ANR) will attempt to explain
this occurrence by
modelling in-house activity performed by firms and fundamentally by
examining firms' interaction in providing and spreading
information. This interaction stems from the fact that firms'
knowledge and know-how, more generally cognitive capabilities, are
observable as spillovers are generated. In this sense, firms
broadcast technologically relevant information. This fact
straightforwardly holds when the imitation process is involved but
even more importantly when and where a technological breakthrough
occurs: a stochastic event that can be viewed as a Poisson
arrival. It has been
observed that technological principles applied first in a specific
sector spread to other sectors, some of them quite far removed in
terms of actual product manufactured. This is a matter of cognitive
interaction between heterogeneous firms that are nevertheless able
to explore each other's technological capabilities. This
interaction is clearly local in the sense that bounded rationality
and limits to accessibility constrain firms to explore an
informational space that spans on a relatively small neighbourhood.
Interaction, however, is not a passive, effortless undertaking;
rather, it requires the specific investment of mainly human
resources. In the end, it also depends on the technological
capabilities possessed by a firm that enables it to conduct an
active searching process. Thus, investment in searching and
learning leading to innovation depends crucially on this
capability. Future profits to be gained by successful innovators
are seen to provide the incentive for innovative efforts and the
model that is to be developed will relate the former with the
latter. ANR expect results that will illustrate the dynamics of
innovation waves, their average length and the mean waiting time
between them. The analysis relies heavily on previous work (ANR,
2005,2006a,2006b), on self-organisation literature (Bak et alii,
1988 and 1993; Vespignani and Zapperi, 1998) and on innovation and
imitation dynamics (Iwai, 2000).
The information is not available in English. Please go to the Italian version
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