%0 Journal Article 
%T Product innovation and adoption in markert equilibrium : the case of digital cameras
%J Borradores de Economía y Finanzas;No. 18 - Marzo 2008
%D 2008
%U http://hdl.handle.net/10906/65260
%X This paper contains an empirical dynamic model of supply and demand in the market
for digital cameras with endogenous product innovation. On the demand side, heterogeneous
consumers time optimally the purchase of goods depending on the expected
evolution of prices and characteristics of available cameras. On the supply side, firms
introduce new camera models accounting for the dynamic value of new products and the
optimal behavior of consumers. The model is estimated using data from the market for
digital cameras and the estimated model replicates rich dynamic features of the data. The estimated model is used to perform counterfactual computations, which suggest that more competition or lower product introduction costs generate more product variety but lower average product quality.
%K FACULTAD DE CIENCIAS ADMINISTRATIVAS Y ECONÓMICAS
%K DEPARTAMENTO DE ECONOMÍA
%K DURABLE GOODS
%K DYNAMIC DEMAND
%K INNOVATION
%K INNOVACIONES
%K DINÁMICA
%K MERCADO
%K Economía
%K Econometría
%K Economics
%K Econometrics models
%~ GOEDOC, SUB GOETTINGEN