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@inproceedings{893073, author = {Krčál, Ondřej}, keywords = {Innovation; Competition; Prospect Theory; Inverted-U Relationship}, title = {A Decision-Theoretical Model of Competition and Innovation}, url = {http://www.univie.ac.at/RNIC/papers/Krcal_rnicconference09.pdf}, year = {2009} }
TY - JOUR ID - 893073 AU - Krčál, Ondřej PY - 2009 TI - A Decision-Theoretical Model of Competition and Innovation KW - Innovation KW - Competition KW - Prospect Theory KW - Inverted-U Relationship UR - http://www.univie.ac.at/RNIC/papers/Krcal_rnicconference09.pdf N2 - In this paper, we show that competition influences innovation decisions of otherwise identical firms. Using prospect theoretical model of decision under uncertainty, we build two basic models that predict an inverted-U relationship between competition and innovation activity frequently observed in empirical studies. We also show that some combinations of the basic models are consistent with the inverted-U hypothesis. ER -
KRČÁL, Ondřej. \textit{A Decision-Theoretical Model of Competition and Innovation}. 2009.
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