Does Market Selection Reward Innovators ?

research publications and other research outputs Does market selection reward innovators ?

Second Order Stochastic Dominance , Reward - Risk Portfolio Selection and the CAPM

Starting from the reward-risk model for portfolio selection introduced in De Giorgi (2004), we derive the reward-risk Capital Asset Pricing Model (CAPM) analogously to the classical mean-variance CAPM. The reward-risk portfolio selection arises from an axiomatic definition of reward and risk measures based on few basic principles, including consistency with second order stochastic dominance. Wi...

The Efficient Method for Creating Ideas; Innovators Marketplace as Role-based Game

Innovation does not mean only creating the new product or services. It is necessary to work out the strategy to lead innovations. Innovators Market Game is a method for creating new ideas by combining existent ideas. In this study, we propose the new way of creating ideas; Rolebased Innovators Market Game. In the game, players take part in the role selected from the real world. For example, jou...

Instability and network effects in innovative markets

We consider a network of interacting agents and we model the process of choice on the adoption of a given innovative product by means of statisticalmechanics tools. The modelization allows us to focus on the effects of direct interactions among agents in establishing the success or failure of the product itself. Mimicking real systems, the whole population is divided into two sub-communities ca...

Timing of discovery and the division of profit with complementary innovations

This paper studies the optimal division of profit with complementary innovations. We identify circumstances in which the research should be conducted sequentially, targeting one innovation after another in a prespecified order, even if each innovation can be achieved independently of the others. We then consider the implementation of this sequential pattern of investment in a market equilibrium...