Gerald, Silverberg; Bart, Verspagen - United Nations University-Maastricht Economic Research … - 2005
We extend an earlier model of innovation dynamics based on invasive percolation by adding endogenous R&D search by economically motivated firms. The {0,1} seeding of the technol-ogy lattice is now replaced by draws from a lognormal distribution for technology ‘difficulty’. Firms are rewarded...