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ON TECHNOLOGY COMPETITION: A FORMAL ANALYSIS OF THE 'SAILING-SHIP EFFECT'

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Abstract:

One of the key features of our economies consists of the coexistence of different technologies supplying similar products and services. We often observe that an old technology is improved when a new one appears; behind this process of improvement often lies an intentional research activity. There thus begins a competition between the two technologies whose performances are improved via R&D. We focus our attention on this competition process and supply a formal model, based on the optimization of R&D expenditure of both technologies, which can describe the dynamics of the delayed overtaking of the new technology over the old one.

Keywords: Sailing-ship effect; Technological change; Technological competition

Document Type: Research Article

DOI: https://doi.org/10.1080/10438590701560360

Affiliations: 1: Faculty of Law, University of Salento, Lecce, Italy 2: Laboratorio Regionale SuperMat, CNR-INFM Salerno and Dipartimento di Scienze Biologiche ed Ambientali, University of Sannio, Benevento, Italy

Publication date: 2008-01-01

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