Despite many previous studies on catch-up, the path-following catch-up strategy has remained underexplored because of its questionable sustainability. However, in this study, we suggest that sustained and successful achievement of the path-following catch-up strategy is possible through the...

Innovation-driven durable goods markets see substantial changes in quality and available choice sets and subsequent changes of the reference quality in the market over time. Considering the multi-attribute characteristics of these goods, it is important for businesses to identify...

Until recently, different types of innovation strategy have been introduced in innovation studies. However, their effects on firms' market performance have been under-explored. To overcome this limitation, we empirically examined the effect of different innovation strategies on firms' market...

This paper reexamines and resolves the long dispute over the source of technological innovation by suggesting an integrated technology-push and demand-pull model. We derive an equilibrium model within the framework of differentiated product analysis and explain the dynamic interaction between...