The Timing of Complementary Innovations by Francisco Poggi

Join us for the another event in the Microeconomics Research Seminar Series, Spring Term 2022

Francisco Poggi from the University of Mannheim- Department of Economics. They will present their research on The Timing of Complementary Innovations 

Abstract 

This paper studies the allocation of attention to complementary projects. I show that, for complements, an optimal allocation must satisfy a regret-free property. This reduces the space of potential solutions and thus facilitates finding the optimum. I apply this result to study the problem of innovation when arrival rates are constant but uncertain. In some cases, efficiency involves completing complementary innovations in sequence. In others, it is efficient to work on multiple innovations simultaneously. I provide simple conditions that determine the efficient timing of innovation and analyze when is it possible to implement this efficient timing with decentralized incentives.  

This seminar will be held at 3pm on Zoom. This event is open to all levels of study and is also open to the public. To register your place and gain access to the webinar, please contact the seminar organisers.

This event is part of the Microeconomics Research Seminar Series.