Product innovation and adoption in markert equilibrium : the case of digital cameras
This paper contains an empirical dynamic model of supply and demand in the market for digital cameras with endogenous product innovation. On the demand side, heterogeneous consumers time optimally the purchase of goods depending on the expected evolution of prices and characteristics of available ca...
- Autores:
-
Carranza Romero, Juan Esteban
- Tipo de recurso:
- Article of investigation
- Fecha de publicación:
- 2008
- Institución:
- Universidad ICESI
- Repositorio:
- Repositorio ICESI
- Idioma:
- spa
- OAI Identifier:
- oai:repository.icesi.edu.co:10906/65260
- Acceso en línea:
- http://hdl.handle.net/10906/65260
http://biblioteca2.icesi.edu.co/cgi-olib?session=-1&infile=details.glu&loid=211252&rs=5514796&hitno=-1
- Palabra clave:
- FACULTAD DE CIENCIAS ADMINISTRATIVAS Y ECONÓMICAS
DEPARTAMENTO DE ECONOMÍA
DURABLE GOODS
DYNAMIC DEMAND
INNOVATION
INNOVACIONES
DINÁMICA
MERCADO
Economía
Econometría
Economics
Econometrics models
- Rights
- openAccess
- License
- https://creativecommons.org/licenses/by-nc-nd/4.0/
| Summary: | This paper contains an empirical dynamic model of supply and demand in the market for digital cameras with endogenous product innovation. On the demand side, heterogeneous consumers time optimally the purchase of goods depending on the expected evolution of prices and characteristics of available cameras. On the supply side, firms introduce new camera models accounting for the dynamic value of new products and the optimal behavior of consumers. The model is estimated using data from the market for digital cameras and the estimated model replicates rich dynamic features of the data. The estimated model is used to perform counterfactual computations, which suggest that more competition or lower product introduction costs generate more product variety but lower average product quality. |
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