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## The Induced Innovation Hypothesis and Energy-Saving Technological Change (1999)

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Venue: | JOURNAL OF ECONOMICS |

Citations: | 185 - 28 self |

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Citation Context ...stics embodies a variant of the classic supply/demand simultaneity problem, in which the regression coefficients are not, in general, identified as parameters of either the supply or demand function [=-=Rosen 1974-=-; see also Epple 1987 and Triplett 1987]. The ordinary hedonics interpretation of a regression of model prices on characteristics as a demand function requires an assumption that the data are generate... |

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Citation Context ...ant of the classic supply/demand simultaneity problem, in which the regression coefficients are not, in general, identified as parameters of either the supply or demand function (Rosen 1974; see also =-=Epple 1987-=-, and Triplett 1987).sThe ordinary hedonics interpretation of a regression of model prices on characteristics as a demand function requires an assumption that the data are generated by heterogeneous s... |

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Citation Context ...quite well, including capturing turning points in the innovation trajectory. This is supported by a conventional quantitative measure for dynamic goodness of fit, 1-U, where U is Theil’s U statistic [=-=Theil 1961-=-]. In addition, decomposing U into its component sources revealed that the vast majority of the simulation error for the three products was due to unsystematic error &a desirable property for simulati... |

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Citation Context ...e number of possible models will actually be produced.sIndeed, the analysis of firms’ strategic decisions regarding locations in product space is an area of active current research (see, for example, =-=Stavins 1995-=-), but it is not our interest.sInstead, we treat the transformation surface as characterizing the set of possible models, and we investigate which of the possible models are offered only in a general ... |

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Citation Context ...lso estimated translog versions. The decomposition of innovation discussed below is considerably more complex in the translog world, and we found that the translog estimation yielded similar results [=-=Newell 1997-=-]. For other products there are additional characteristics, which are accommodated by simply adding more logarithmic terms. For notational convenience, we generally suppress the model subscript i in s... |

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Citation Context ...ic supply/demand simultaneity problem, in which the regression coefficients are not, in general, identified as parameters of either the supply or demand function (Rosen 1974; see also Epple 1987, and =-=Triplett 1987-=-).sThe ordinary hedonics interpretation of a regression of model prices on characteristics as a demand function requires an assumption that the data are generated by heterogeneous suppliers’ distinct ... |

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