{"id":"https://openalex.org/W4246689503","doi":"https://doi.org/10.1257/mic.20140138","title":"Exploitative Innovation","display_name":"Exploitative Innovation","publication_year":2016,"publication_date":"2016-02-01","ids":{"openalex":"https://openalex.org/W4246689503","doi":"https://doi.org/10.1257/mic.20140138"},"language":"en","primary_location":{"id":"doi:10.1257/mic.20140138","doi":"https://doi.org/10.1257/mic.20140138","is_oa":true,"landing_page_url":"https://doi.org/10.1257/mic.20140138","pdf_url":"https://www.aeaweb.org/articles/pdf/doi/10.1257/mic.20140138","source":{"id":"https://openalex.org/S96919139","display_name":"American Economic Journal Microeconomics","issn_l":"1945-7669","issn":["1945-7669","1945-7685"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","jufo-3","ki-jl-1","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315912","host_organization_name":"American Economic Association","host_organization_lineage":["https://openalex.org/P4310315912"],"host_organization_lineage_names":["American Economic Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"American Economic Journal: Microeconomics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"bronze","oa_url":"https://www.aeaweb.org/articles/pdf/doi/10.1257/mic.20140138","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5022195954","display_name":"Paul Heidhues","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I894557895","display_name":"European School of Management and Technology","ror":"https://ror.org/024xejm70","country_code":"DE","type":"education","lineage":["https://openalex.org/I894557895"]}],"countries":["DE"],"is_corresponding":false,"raw_author_name":"Paul Heidhues","raw_affiliation_strings":["European School of Management and Technology, Schlossplatz 1, 10178 Berlin, Germany (e-mail: )"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"European School of Management and Technology, Schlossplatz 1, 10178 Berlin, Germany (e-mail: )","institution_ids":["https://openalex.org/I894557895"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5088707502","display_name":"Botond K\u0151szegi","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Botond K\u0151szegi","raw_affiliation_strings":["Central European University, N\u00e1dor utca 9. 1051 Budapest, Hungary (e-mail: )"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Central European University, N\u00e1dor utca 9. 1051 Budapest, Hungary (e-mail: )","institution_ids":[]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5047644314","display_name":"Takeshi Murooka","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I8204097","display_name":"Ludwig-Maximilians-Universit\u00e4t M\u00fcnchen","ror":"https://ror.org/05591te55","country_code":"DE","type":"education","lineage":["https://openalex.org/I8204097"]}],"countries":["DE"],"is_corresponding":false,"raw_author_name":"Takeshi Murooka","raw_affiliation_strings":["University of Munich, Ludwigstr. 28 Rgb, 80539 Munich, Germany (e-mail: )"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Munich, Ludwigstr. 28 Rgb, 80539 Munich, Germany (e-mail: )","institution_ids":["https://openalex.org/I8204097"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":15.5653,"has_fulltext":true,"cited_by_count":67,"citation_normalized_percentile":{"value":0.98795152,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"8","issue":"1","first_page":"1","last_page":"23"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11043","display_name":"Merger and Competition Analysis","score":0.8481000065803528,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11043","display_name":"Merger and Competition Analysis","score":0.8481000065803528,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11161","display_name":"Consumer Market Behavior and Pricing","score":0.039900001138448715,"subfield":{"id":"https://openalex.org/subfields/1406","display_name":"Marketing"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11437","display_name":"Digital Platforms and Economics","score":0.03689999878406525,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/exploitative-innovation","display_name":"exploitative innovation","score":0.9649999737739563},{"id":"https://openalex.org/keywords/innovation-incentives","display_name":"innovation incentives","score":0.9890000224113464},{"id":"https://openalex.org/keywords/naive-consumers","display_name":"naive consumers","score":0.6610000133514404},{"id":"https://openalex.org/keywords/appropriability","display_name":"appropriability","score":0.5080000162124634},{"id":"https://openalex.org/keywords/credit-card-issuers","display_name":"credit card issuers","score":0.7009999752044678},{"id":"https://openalex.org/keywords/financial-services","display_name":"financial services","score":0.628000020980835},{"id":"https://openalex.org/keywords/product-differentiation","display_name":"product differentiation","score":0.38999998569488525}],"concepts":[{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.7856448888778687},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.6392233371734619},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6337602734565735},{"id":"https://openalex.org/C75434695","wikidata":"https://www.wikidata.org/wiki/Q7247768","display_name":"Product innovation","level":2,"score":0.5713256597518921},{"id":"https://openalex.org/C90673727","wikidata":"https://www.wikidata.org/wiki/Q901718","display_name":"Product (mathematics)","level":2,"score":0.5348208546638489},{"id":"https://openalex.org/C2777064627","wikidata":"https://www.wikidata.org/wiki/Q3151423","display_name":"Financial innovation","level":2,"score":0.5106537938117981},{"id":"https://openalex.org/C138170105","wikidata":"https://www.wikidata.org/wiki/Q1337949","display_name":"Issuer","level":2,"score":0.5069287419319153},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.4650844931602478},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4167094826698303},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3152075409889221},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.23903003334999084},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.20887857675552368},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.15353891253471375},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0},{"id":"https://openalex.org/C2524010","wikidata":"https://www.wikidata.org/wiki/Q8087","display_name":"Geometry","level":1,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1257/mic.20140138","doi":"https://doi.org/10.1257/mic.20140138","is_oa":true,"landing_page_url":"https://doi.org/10.1257/mic.20140138","pdf_url":"https://www.aeaweb.org/articles/pdf/doi/10.1257/mic.20140138","source":{"id":"https://openalex.org/S96919139","display_name":"American Economic Journal Microeconomics","issn_l":"1945-7669","issn":["1945-7669","1945-7685"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","jufo-3","ki-jl-1","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315912","host_organization_name":"American Economic Association","host_organization_lineage":["https://openalex.org/P4310315912"],"host_organization_lineage_names":["American Economic Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"American Economic Journal: Microeconomics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:aea:aejmic:v:8:y:2016:i:1:p:1-23","doi":null,"is_oa":false,"landing_page_url":"http://www.aeaweb.org/articles.php?doi=10.1257/mic.20140138","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"doi:10.1257/mic.20140138","doi":"https://doi.org/10.1257/mic.20140138","is_oa":true,"landing_page_url":"https://doi.org/10.1257/mic.20140138","pdf_url":"https://www.aeaweb.org/articles/pdf/doi/10.1257/mic.20140138","source":{"id":"https://openalex.org/S96919139","display_name":"American Economic Journal Microeconomics","issn_l":"1945-7669","issn":["1945-7669","1945-7685"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","jufo-3","ki-jl-1","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315912","host_organization_name":"American Economic Association","host_organization_lineage":["https://openalex.org/P4310315912"],"host_organization_lineage_names":["American Economic Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"American Economic Journal: Microeconomics","raw_type":"journal-article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/9","score":0.6100000143051147,"display_name":"Industry, innovation and infrastructure"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4246689503.pdf","grobid_xml":"https://content.openalex.org/works/W4246689503.grobid-xml"},"referenced_works_count":13,"referenced_works":["https://openalex.org/W1513281941","https://openalex.org/W1570150692","https://openalex.org/W1975296756","https://openalex.org/W2005776260","https://openalex.org/W2109433658","https://openalex.org/W2115297219","https://openalex.org/W2118821716","https://openalex.org/W2167670590","https://openalex.org/W2890725569","https://openalex.org/W3121906482","https://openalex.org/W3121915579","https://openalex.org/W3122035289","https://openalex.org/W4232419123"],"related_works":["https://openalex.org/W3033561931","https://openalex.org/W2091016030","https://openalex.org/W3134327479","https://openalex.org/W7097745401","https://openalex.org/W4412286569","https://openalex.org/W3007815516","https://openalex.org/W1525558393","https://openalex.org/W2374748745","https://openalex.org/W7055495420","https://openalex.org/W2980652830"],"abstract_inverted_index":{"We":[0,29],"analyze":[1],"innovation":[2,45],"incentives":[3,46],"when":[4],"firms":[5,33,68],"can":[6],"invest":[7],"either":[8],"in":[9,17,69],"increasing":[10,18],"the":[11,19,70],"product's":[12],"value":[13],"(value-increasing":[14],"innovation)":[15],"or":[16],"hidden":[20,39],"prices":[21,40],"they":[22],"collect":[23],"from":[24,38],"naive":[25],"consumers":[26],"(exploitative":[27],"innovation).":[28],"show":[30],"that":[31],"if":[32],"cannot":[34],"return":[35],"all":[36],"profits":[37],"by":[41],"lowering":[42],"transparent":[43],"prices,":[44],"are":[47,57],"often":[48,90],"stronger":[49],"for":[50,53,60],"exploitative":[51,95],"than":[52],"value-increasing":[54],"innovations,":[55],"and":[56,86],"strong":[58],"even":[59],"non-appropriable":[61],"innovations.":[62],"These":[63],"results":[64],"help":[65],"explain":[66],"why":[67,87],"financial":[71],"industry":[72],"(e.g.,":[73],"credit-card":[74],"issuers)":[75],"have":[76,93],"been":[77],"willing":[78],"to":[79,92],"make":[80],"innovations":[81,89],"others":[82],"could":[83],"easily":[84],"copy,":[85],"these":[88],"seem":[91],"included":[94],"features.":[96],"(JEL":[97],"D21,":[98],"G21,":[99],"L11,":[100],"L25,":[101],"O31)":[102]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":8},{"year":2024,"cited_by_count":9},{"year":2023,"cited_by_count":4},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":5},{"year":2020,"cited_by_count":5},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":10},{"year":2017,"cited_by_count":5},{"year":2016,"cited_by_count":6},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":1}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2022-05-12T00:00:00"}