A baseline model of industry evolution

Winter SG, Kaniovski YM, & Dosi G (2003). A baseline model of industry evolution. Journal of Evolutionary Economics 13 (4): 355-383. DOI:10.1007/s00191-003-0163-y.

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Abstract

The paper analyses some general dynamic properties of industries characterized by heterogeneous firms and continuing stochastic entry.

After a brief critical assessment of some significant drawbacks of recent contributions to modeling of stochastic industrial dynamics, we propose a novel analytical apparatus able to derive some generic properties of the underlying competition process combining persistent technological heterogeneity, differential growth of individual firms and turnover. The basic model, we suggest, is indeed applicable with proper modifications to a large class of evolutionary processes, well beyond industrial dynamics.

Item Type: Article
Uncontrolled Keywords: Evolution; Competition; Stochastic entry; Industrial dynamics; Evolutionary games
Research Programs: Technological and Economic Dynamics (TED)
Depositing User: Romeo Molina
Date Deposited: 17 May 2016 08:19
Last Modified: 17 May 2016 08:19
URI: http://pure.iiasa.ac.at/13211

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