Incremental innovations appears to be much more frequent than radical innovations. Possible explanations rely on the effect of the degree of competition in the market. The paper, on the contrary, focuses on agents' attitude towards status quo and conservativeness and specifies the conditions where the preference for incremental innovations represents an optimum. In fact, the welfare generated by radical innovations drops dramatically when agents are uncertainty-averse and/or loss-averse
Are Incremental Innovations A Suboptimal Outcome? The Role of Uncertainty and Loss Aversion / D. Grieco. - In: SCHOLARS JOURNAL OF ECONOMICS, BUSINESS AMD MANAGEMENT. - ISSN 2348-5302. - 9:2(2022 Feb), pp. 30-36. [10.36347/sjebm.2022.v09i02.001]
Are Incremental Innovations A Suboptimal Outcome? The Role of Uncertainty and Loss Aversion
D. Grieco
Primo
2022
Abstract
Incremental innovations appears to be much more frequent than radical innovations. Possible explanations rely on the effect of the degree of competition in the market. The paper, on the contrary, focuses on agents' attitude towards status quo and conservativeness and specifies the conditions where the preference for incremental innovations represents an optimum. In fact, the welfare generated by radical innovations drops dramatically when agents are uncertainty-averse and/or loss-averse
| File | Dimensione | Formato | |
|---|---|---|---|
|
SJEBM_92_30-36_FT.pdf
accesso aperto
Tipologia:
Publisher's version/PDF
Dimensione
331.12 kB
Formato
Adobe PDF
|
331.12 kB | Adobe PDF | Visualizza/Apri |
Pubblicazioni consigliate
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
