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Innovation and market structure in the dynamics of the pharmaceutical industry and biotechnology: towards a history-friendly model

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Author Info
Franco Malerba
Luigi Orsenigo

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Abstract

This paper is a first attempt at modelling the long-term dynamics of market structure and innovation in the pharmaceutical industry in a history-friendly way. The model examines the relationships between the nature of the search space, demand, the patterns of competition, and industry evolution in the age of random screening and in the age of molecular biology, and shows that concentration in the pharmaceutical industry is shaped by lack of cumulativeness in innovative activities and market fragmentation. The model conforms to our appreciative understanding and responds to changes in parameters concerning demand, costs, economies of scale, opportunity conditions and the relative advantages of new biotechnology firms (NBFs) vis-ý-vis incumbents. With the exception of cost increases, the model is quite robust to these changes in its essential features: it is quite difficult to raise substantially concentration and to have NBFs displacing incumbents. Copyright 2002, Oxford University Press.

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Publisher Info
Article provided by Oxford University Press in its journal Industrial and Corporate Change.

Volume (Year): 11 (2002)
Issue (Month): 4 (August)
Pages: 667-703
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Handle: RePEc:oup:indcch:v:11:y:2002:i:4:p:667-703

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  1. Claudia Werker & Thomas Brenner, 2004. "Empirical Calibration of Simulation Models," Papers on Economics and Evolution 2004-10, Max Planck Institute of Economics, Evolutionary Economics Group. [Downloadable!]
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  2. Daron Acemoglu & Joshua Linn, 2004. "Market Size in Innovation: Theory and Evidence from the Pharmaceutical Industry," Levine's Working Paper Archive 228400000000000002, David K. Levine. [Downloadable!]
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  3. Blandine Laperche, 2008. "Stratégies d’innovation des firmes des sciences de la vie et appropriation des ressources végétales : processus et enjeux Innovations strategies of firms in life science and appropriation of vege," Working Papers 189, Laboratoire de Recherche sur l'Industrie et l'Innovation. ULCO / Research Unit on Industry and Innovation. [Downloadable!]
  4. Moses Acquaah & Tailan Chi, 2007. "A longitudinal analysis of the impact of firm resources and industry characteristics on firm-specific profitability," Journal of Management and Governance, Springer, vol. 11(3), pages 179-213, September. [Downloadable!] (restricted)
  5. Enrico Santarelli & Francesca Lotti, 2007. "The Relationship among innovative Output, Productivity, and Profitability. A test comparing USPTO and EPO data," Jena Economic Research Papers in Economics 2007-020, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics, Thueringer Universitaets- und Landesbibliothek. [Downloadable!]
  6. Gilsing, Victor A. & Nooteboom, Bart, 2005. "Density and strength of ties in innovation networks : an analysis of multi-media and biotechnology," Discussion Paper 41, Tilburg University, Center for Economic Research. [Downloadable!]
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  7. Lazonick, William, 2008. "Entrepreneurial Ventures and the Developmental State: Lessons from the Advanced Economies," Working Papers DP2008/01, World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
  8. Lee Davis, 2006. "Licensing Strategies of the Enterprising - but Vulnerable - "Intellectual Property" Vendors," DRUID Working Papers 06-12, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies. [Downloadable!]
  9. Esben Sloth Andersen, 2004. "Population Thinking and Evolutionary Economic Analysis: Exploring Marshall's Fable of the Trees," DRUID Working Papers 04-05, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies. [Downloadable!]
  10. Giorgio Fagiolo & Paul Windrum & Alessio Moneta, 2006. "Empirical Validation of Agent Based Models: A Critical Survey," LEM Papers Series 2006/14, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy. [Downloadable!]
  11. Malmberg, Claes, 2005. "Trademark Statistics as Innovation Indicators? - A Micro study," CIRCLE Electronic Working Paper Series 2005-17, CIRCLE (Centre for Innovation, Research and Competence in the Learning Economy), Lund University. [Downloadable!]
  12. Giorgio Fagiolo & Alessio Moneta & Paul Windrum, 2007. "A Critical Guide to Empirical Validation of Agent-Based Models in Economics: Methodologies, Procedures, and Open Problems," Computational Economics, Springer, vol. 30(3), pages 195-226, October. [Downloadable!] (restricted)
  13. Sorisio, Enrico & Strøm, Steinar, 2006. "Innovation and market dynamics in the EPO market," Memorandum 12/2006, Oslo University, Department of Economics. [Downloadable!]
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  14. Thomas Brenner & Claudia Werker, 2007. "A Taxonomy of Inference in Simulation Models," Computational Economics, Springer, vol. 30(3), pages 227-244, October. [Downloadable!] (restricted)
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