1. The R&D stochastic component within the ‘sailing-ship effect’
- Author
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Giovanni Filatrella, Nicola De Liso, Filatrella, G., and De Liso, N.
- Subjects
Work (thermodynamics) ,Computer science ,Stochastic process ,Management of Technology and Innovation ,Component (UML) ,0502 economics and business ,05 social sciences ,Technological competition, R&D, stochastic processes, sailing-ship effect, simulations ,Applied mathematics ,050207 economics ,General Economics, Econometrics and Finance ,050203 business & management - Abstract
In this work, we apply a stochastic component to a previously proposed deterministic model which expounds the ‘sailing-ship effect’ – that is, the reaction of an existing technology to the appearance of a new, potentially better, technology. The evolution of the technical performance – e.g. data transmission capacity – is studied taking into account the noise engendered by the presence of a random variable that mimics the uncertainty of R&D productivity. Both a Gaussian and a Cauchy–Lorentz distribution are considered. Performances’ evolution is studied by running simulations of a nonlinear functional map which is capable of showing the sailing-ship effect in the two possible variants, i.e. either the old or the new technology prevails in terms of performance. A noteworthy counterintuitive result for the Gaussian case is that noise may actually be beneficial to performance improvement.
- Published
- 2020
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