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The Nature and Effects of Technological Change over the Industry Life Cycle

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  • Darren Filson

    (Claremont Graduate University)

Abstract

This paper estimates quality and cost innovations in the early automobile, personal computer, rigid disk drive, computer monitor, and computer printer industries using industry-level data on firm numbers, price, quantity, and quality and an equilibrium model of industry evolution. The results challenge the notion that new industries experience quality innovation early on and cost innovation later on. In the microelectronics industries the rate of quality improvement does not diminish over time. In the automobile industry, even though the rate of quality improvement is highest early on, the profitability of quality advantages is highest later on. (Copyright: Elsevier)

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File URL: http://dx.doi.org/10.1006/redy.2000.0120
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Bibliographic Info

Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.

Volume (Year): 4 (2001)
Issue (Month): 2 (July)
Pages: 460-494

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Handle: RePEc:red:issued:v:4:y:2001:i:2:p:460-494

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Related research

Keywords: shakeout; product and process innovation; technological change; industry dynamics; technology;

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References

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  1. Utterback, James M & Abernathy, William J, 1975. "A dynamic model of process and product innovation," Omega, Elsevier, vol. 3(6), pages 639-656, December.
  2. Steven Klepper & Elizabeth Graddy, 1990. "The Evolution of New Industries and the Determinants of Market Structure," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 27-44, Spring.
  3. Boyan Jovanovic & Glenn MacDonald, 1993. "The Life-Cycle of a Competitive Industry," NBER Working Papers 4441, National Bureau of Economic Research, Inc.
  4. Stavins, Joanna, 1995. "Model Entry and Exit in a Differentiated-Product Industry: The Personal Computer Market," The Review of Economics and Statistics, MIT Press, vol. 77(4), pages 571-84, November.
  5. Gort, Michael & Klepper, Steven, 1982. "Time Paths in the Diffusion of Product Innovations," Economic Journal, Royal Economic Society, vol. 92(367), pages 630-53, September.
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Citations

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Cited by:
  1. Bos, Jaap W.B. & Economidou, Claire & Sanders, Mark W.J.L., 2013. "Innovation over the industry life-cycle: Evidence from EU manufacturing," Journal of Economic Behavior & Organization, Elsevier, vol. 86(C), pages 78-91.
  2. Mariana Mazzucato, 2006. "Innovation and Stock Prices: a Review of some Recent Work," Revue de l'OFCE, Presses de Sciences-Po, vol. 97(5), pages 159-179.
  3. Bent Dalum & Christian Ø.R. Pedersen & Gert Villumsen, 2002. "Technoligical Life Cycles Regional Clusters Facing Disruption," DRUID Working Papers 02-10, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  4. Schmoch, Ulrich, 2007. "Double-boom cycles and the comeback of science-push and market-pull," Research Policy, Elsevier, vol. 36(7), pages 1000-1015, September.
  5. Mariana Mazzucato, 2002. "The PC Industry: New Economy or Early Life-Cycle?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 318-345, April.
  6. Darren Filson & Richard T. Gretz, 2003. "Strategic Innovation and Technology Adoption in an Evolving Industry," Claremont Colleges Working Papers 2003-08, Claremont Colleges.
  7. Hyunbae Chun & M. Ishaq Nadiri, 2002. "Decomposing Productivity Growth in the U.S. Computer Industry," NBER Working Papers 9267, National Bureau of Economic Research, Inc.
  8. Darren Filson, . "Product and Process Innovations in the Life Cycle of an Industry," Claremont Colleges Working Papers 2000-30, Claremont Colleges.
  9. Natália Barbosa & Ana Paula Faria & Vasco Eiriz, 2013. "Industry - and firm-specific factors of innovation novelty," NIPE Working Papers 10/2013, NIPE - Universidade do Minho.
  10. Saha, Souresh, 2014. "Firm's objective function and product and process R&D," Economic Modelling, Elsevier, vol. 36(C), pages 484-494.
  11. Mariana Mazzucato & Massimiliano Tancioni, 2005. "Innovation and Idiosyncratic Risk: an Industry & Firm Level Analysis," Open Discussion Papers in Economics 50, The Open University, Faculty of Social Sciences, Department of Economics.
  12. Russell, Bonita I. & Shapiro, Daniel & Vining, Aidan R., 2010. "The evolution of the Canadian mining industry: The role of regulatory punctuation," Resources Policy, Elsevier, vol. 35(2), pages 90-97, June.

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