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Innovation dynamics under market uncertainty and financial constraints

The project "Innovation dynamics under market uncertainty and financial constraints" is funded by the German Science Foundation (DFG) within the Collaborative Research Center (SFB 1283) "Taming uncertainty and profiting from randomness and low regularity in analysis, stochastics and their applications" from 2017-2021.

Principal Investigator: Herbert Dawid

Short Description:

The aim of this project is to characterize intertemporally optimal investment strategies of financially constrained firms which compete on an established market and at the same time invest in the development of new products to be introduced to the market. Both the success of product innovation activities and the evolution of the demand for new products is assumed to be stochastic and due to financial constraints generates bankruptcy risk for the firms. A combination of analytical and numerical methods will be used to characterize the equilibrium profile of firms' investment strategies. Based on this it will be studied how the tightness of financial constraints affects innovation and bankruptcy rates of firms of different size. Our approach will also allow to analyze the implications of innovation subsidies and innovation cooperations between firms.

 

Job Opening: Postdoc Position for 4 years, Application Deadline: July 5th, 2017

Aktuelles

New Working Paper

2019-06-27

Hötte, K. (2019) Skill Transferability and the Stability of Transition Pathways - A Learning-Based Explanation for Patterns of Diffusion, Bielefeld Working Papers 09-2019

New Working Paper

2019-06-13

Hötte, K. (2019) Eurace@unibi-eco: A model of technology transitions - v1.1 Model documentation, Bielefeld Working Papers 08-2019

Invited Talk

2019-06-11

Herbert Dawid gives an invited talk on 'Efficiency Gains of Social Influence in a Minimum Effort Game' at the Workshop on Computational and Experimental Economics in Barcelona on June 11.

New Journal Article Accepted

2019-06-06

Bigerna, S., Hagspiel, V., Kort, P., Wen, X. (2019) Green Electricity Investments: Environmental Target and the Optimal Subsidy, European Journal of Operational Research

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