Luckraz, Shravan - In: Economic Modelling 30 (2013) C, pp. 510-513
This paper shows that innovation (or Schumpeter's) cycles can be demonstrated in a discrete and finite dynamic game of … innovation and imitation. We find that the cycles depend crucially on whether imitation is a credible threat and hence, we … conclude that strategic interactions are sufficient to generate cycles in an innovation game. …