The standard ontogenic (life-cycle) model of technological evolution can be characterized briefly as follows (Ayres, 1987): (1) a radical invention (birth) creates a new technology; (2) it is commercialized on the basis of performance and rapidly developed by a series of improvements and modifications (infancy); (3) it is successful enough in the marketplace to attract many variants and imitators who hope to exploit a growing market (adolescence); (4) the pace of technological change finally slows down enough to permit standardization and exploitation of economies of scale, and competition on the basis of price rather than performance (maturity); and finally a new and better technology supplants it (senescence).