TY  -  JOUR 
TI  - Product innovation and adoption in market equilibrium: the case of digital cameras
PB  - Universidad Icesi
PY  - 2007
AB  - This paper contains an empirical dynamic model of supply and demand in the mar-
ket for digital cameras with endogenous product innovation. On the demand side, het-
erogeneous 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
KW  - Mercado
KW  - Modelo dinámico (Economía)
KW  - Economía
KW  - Economics
KW  - Camaras digitales
KW  - Innovación de productos
UR  - http://hdl.handle.net/10906/82359
ER  -