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Information acquisition and assimilation capacities as determinants of technological niche markets
Journal of Innovation & Knowledge ( IF 18.1 ) Pub Date : 2022-04-29 , DOI: 10.1016/j.jik.2022.100193
Francisco J. Santos-Arteaga, Madjid Tavana, Debora Di Caprio

We present an equilibrium model where the demand side of the market determines the strategic incentives of firms when considering the introduction of technologically superior products (TSPs) and the subsequent dynamic evolution of the market configuration. Market demand is built on conventional features defining the behavior of decision-makers (DMs), who are required to acquire information sequentially about the characteristics describing the products. Firms may signal the introduction of TSPs, though only sufficiently experimental DMs update their beliefs when selecting a product from a firm. That is, technological habits and inertia condition the incentives of DMs to acquire information and select potential products within a market. In particular, the choices made by the DMs will be determined by their capacity to assimilate signals describing the introduction of TSPs and their attitude towards risk. We identify the conditions required for the emergence of technological niche markets allowing firms that signal the introduction of TSPs to thrive.



中文翻译:

信息获取和同化能力是技术利基市场的决定因素

我们提出了一个均衡模型,其中市场需求方在考虑引入技术优势产品 (TSP) 和随后的市场配置动态演变时决定了公司的战略激励。市场需求建立在定义决策者 (DM) 行为的传统特征之上,决策者需要按顺序获取有关描述产品特征的信息。公司可能会发出引入 TSP 的信号,尽管只有充分实验的 DM 在从公司选择产品时更新他们的信念。也就是说,技术习惯和惯性制约了 DM 获取信息和选择市场内潜在产品的动机。尤其,决策者所做的选择将取决于他们吸收描述引入 TSP 的信号的能力以及他们对风险的态度。我们确定了技术利基市场出现所需的条件,使那些标志着引入 TSP 的公司蓬勃发展。

更新日期:2022-04-29
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