The Microeconomics of Product Innovation
Paul Stoneman, Eleonora Bartoloni, and Maurizio Baussola
Abstract
The prime objective of this book is the use microeconomic analysis to guide and provide insight into the generation and adoption of new products. Taking an approach that uses minimal formal mathematics, the volume initially addresses questions of definitions, sources, and extent of product innovation, differentiating between goods and services; hard and soft innovations; horizontal and vertical innovations; original, new to market, and new to firm innovations. The sources of product innovations (e.g. R&D, design, and creativity) are explored empirically, and the extent of such innovations is t ... More
The prime objective of this book is the use microeconomic analysis to guide and provide insight into the generation and adoption of new products. Taking an approach that uses minimal formal mathematics, the volume initially addresses questions of definitions, sources, and extent of product innovation, differentiating between goods and services; hard and soft innovations; horizontal and vertical innovations; original, new to market, and new to firm innovations. The sources of product innovations (e.g. R&D, design, and creativity) are explored empirically, and the extent of such innovations is then pursued using survey and other data. Three chapters are devoted to the theoretical analysis of the demand for and supply of new products and to the determination of firms’ decisions to undertake product innovation. Later chapters encompass empirical evidence on the determination of the extent of product innovation, the diffusion of such innovation, the impact of product innovation on firm performance, price measurement, and welfare, while the final chapter addresses policy issues.
Keywords:
definition,
impacts,
measurement,
microeconomics,
policy,
product innovation
Bibliographic Information
| Print publication date: 2018 |
Print ISBN-13: 9780198816676 |
| Published to Oxford Scholarship Online: March 2018 |
DOI:10.1093/oso/9780198816676.001.0001 |
Authors
Affiliations are at time of print publication.
Paul Stoneman, author
Emeritus Professor, Warwick Business School, University of Warwick, UK
Eleonora Bartoloni, author
Senior Researcher, National Institute for Statistics (ISTAT), Milan, Italy
Maurizio Baussola, author
Director, Department of Economic and Social Sciences, Università Cattolica del Sacro Cuore, Piacenza, Italy
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