Evolutionary Game Analysis of Firms’ Technological Strategic Choices: A Perspective of the Behavioral Biases

Figure 10

(a) The prices of products between innovation-leading firms and imitation-following firms for different consumers’ price preference φ with the innovation risk δ = 0.5 and (b) the relationship between the proportion of innovation-leading firms in the group and different consumers’ price preference φ on three levels of the innovation risk δ based on the improved game model.

(a)

(b)