Innovation and Coordination

<p>This international research project aims at developing a theoretical framework to examine the different phases of the genesis of technology-based innovations (research and development) and the market entry of those innovations.</p>

<p>Within three modules, each of which focuses on the coordination problems of market participants, management researchers, economists, psychologists, and statisticians from Germany and the United States are brought together to form an interdisciplinary research team.</p>

<p>Rational behaviour, as predicted by normative game theoretical models, will be compared to that of actual economic agents using laboratory experiments and will be augmented through findings from behavioural game theory, which accounts for agent's bounded rationality. In this way, an approach which will complement and expand on past innovation research will be developed.</p>

<p>The project is financed by a generous grant from the Volkswagen Foundation.</p>