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Abstract: This paper considers a firm that has the option to undertake product innovations. For each product innovation … an initial investment. Finally, we show that when demand decreases over time and when fixed investment cost is higher … investment is delayed. …
Persistent link: https://www.econbiz.de/10011091584
This paper considers a class of optimal control problems that allows jumps in the state variable. We present the necessary optimality conditions of the Impulse Control Maximum Principle based on the current value formulation. By reviewing the existing impulse control models in the literature, we...
Persistent link: https://www.econbiz.de/10010574158
This paper considers a class of optimal control problems that allows jumps in the state variable. We present the necessary optimality conditions of the Impulse Control Maximum Principle based on the current value formulation. By reviewing the existing impulse control models in the literature, we...
Persistent link: https://www.econbiz.de/10011090959
Persistent link: https://www.econbiz.de/10009616356
This paper considers a firm that has the option to undertake product innovations. For each product innovation the firm … investment. Finally, we show that when demand decreases over time and when fixed investment cost is higher, that the firm invests … less throughout the planning period, the time between two investments increases and that the first investment is delayed …
Persistent link: https://www.econbiz.de/10013100792
In the suggested paper an attempt to combine two different aspects of innovative activity which are known as product and process innovations is made. The main objective of the paper is to demonstrate the importance of interdependence between these two types of innovative activity through means...
Persistent link: https://www.econbiz.de/10008736540
Persistent link: https://www.econbiz.de/10011572205
Persistent link: https://www.econbiz.de/10012040246
This paper addresses the role of product liability for the emergence and development of smart products such as autonomous vehicles (AVs). We analyze how the liability regime affects innovative activities, as well as the timing of market introduction and market penetration of such smart products....
Persistent link: https://www.econbiz.de/10012024639
Persistent link: https://www.econbiz.de/10013491066