Innovation and the Replacement Effect in Monopolies: The Case of Non-Renewable Resources (notice n° 546713)
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| fixed length control field | 01332cam a2200157 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121114315.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Poudou, Jean-Christophe |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Innovation and the Replacement Effect in Monopolies: The Case of Non-Renewable Resources |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2007.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 8 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Considering a cost reducing innovation, Arrow (1962) shows that a firm in monopoly suffers the replacement effect, that is to say, its valuation of the innovation is sub-optimal and less than in a context of technological competition. We will also look at this problem but in the context of an economy exploiting a finite resource. We will then show that the replacement effect cannot always be verified and is sometimes even reversible: a mining monopoly does not “rest on its laurels” when the price elasticity of demand for the resource is rapidly increasing. We discuss this result in the context of dynamic incentives to innovate and we will show how, in these situations of demand, the mining monopoly sometimes innovates faster than the firm in competition. |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Recherches économiques de Louvain | 73 | 1 | 2007-04-02 | p. 55-75 | 0770-4518 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-recherches-economiques-de-louvain-2007-1-page-55?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-recherches-economiques-de-louvain-2007-1-page-55?lang=en&redirect-ssocas=7080</a> |
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