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Innovation and Industry Bifurcation: The Evolution of R&D Strategy

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  • Lee, Jeho
  • Harrison, J Richard

Abstract

R&D investment can bifurcate industries into groups following innovative and imitative strategies. To examine conditions for strategic bifurcation over time, we develop a model of industry evolution, including industry entry and exit processes, as well as a firm growth process. Growth results from adaptive search over a probabilistic fitness landscape with stochastic attractors. Computer simulation experiments link the strategic bifurcation of industries to landscape features, industry exit rates and strategic inertia. The model implies that mobility barriers can arise from evolutionary and environmental sources independently of firms' defensive actions. Copyright 2001 by Oxford University Press.

Suggested Citation

  • Lee, Jeho & Harrison, J Richard, 2001. "Innovation and Industry Bifurcation: The Evolution of R&D Strategy," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 10(1), pages 115-149, March.
    • Handle: RePEc:oup:indcch:v:10:y:2001:i:1:p:115-49
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    Cited by:

    1. Aßmuth, Pascal, 2014. "Credit Constrained R&D Spending and Technological Change," Center for Mathematical Economics Working Papers 532, Center for Mathematical Economics, Bielefeld University.
    2. Pascal Aßmuth, 2018. "The Impact of Credit Rating on Innovation in a Two-Sector Evolutionary Model," Computational Economics, Springer;Society for Computational Economics, vol. 52(3), pages 839-872, October.
    3. Zhiang (John) Lin & James A. Kitts & Haibin Yang & J. Richard Harrison, 2008. "Elucidating strategic network dynamics through computational modeling," Computational and Mathematical Organization Theory, Springer, vol. 14(3), pages 175-208, September.
    4. Ravi Srinivasan & Adrian Choo & Sriram Narayanan & Soumodip Sarkar & Antti Tenhiälä, 2021. "Knowledge sources, innovation objectives, and their impact on innovation performance: Quasi‐replication of Leiponen and Helfat (2010)," Strategic Management Journal, Wiley Blackwell, vol. 42(11), pages 2104-2136, November.
    5. Jerker Denrell, 2003. "Vicarious Learning, Undersampling of Failure, and the Myths of Management," Organization Science, INFORMS, vol. 14(3), pages 227-243, June.

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