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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. Jovanovic, Boyan & MacDonald, Glenn M, 1994. "The Life Cycle of a Competitive Industry," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 102(2), pages 322-47, April.
  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. Gort, Michael & Klepper, Steven, 1982. "Time Paths in the Diffusion of Product Innovations," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 92(367), pages 630-53, September.
  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. Utterback, James M & Abernathy, William J, 1975. "A dynamic model of process and product innovation," Omega, Elsevier, Elsevier, vol. 3(6), pages 639-656, December.
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Citations

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Cited by:
  1. Mariana Mazzucato, 2006. "Innovation and Stock Prices: a Review of some Recent Work," Revue de l'OFCE, Presses de Sciences-Po, Presses de Sciences-Po, vol. 97(5), pages 159-179.
  2. Mariana Mazzucato & Massimiliano Tancioni, 2005. "Innovation and Idiosyncratic Risk: an Industry & Firm Level Analysis," Open Discussion Papers in Economics, The Open University, Faculty of Social Sciences, Department of Economics 50, The Open University, Faculty of Social Sciences, Department of Economics.
  3. Filson, Darren, 2002. "Product and process innovations in the life cycle of an industry," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 49(1), pages 97-112, September.
  4. Mariana Mazzucato, 2002. "The PC Industry: New Economy or Early Life-Cycle?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(2), pages 318-345, April.
  5. Schmoch, Ulrich, 2007. "Double-boom cycles and the comeback of science-push and market-pull," Research Policy, Elsevier, Elsevier, vol. 36(7), pages 1000-1015, September.
  6. Natália Barbosa & Ana Paula Faria & Vasco Eiriz, 2013. "Industry - and firm-specific factors of innovation novelty," NIPE Working Papers, NIPE - Universidade do Minho 10/2013, NIPE - Universidade do Minho.
  7. Saha, Souresh, 2014. "Firm's objective function and product and process R&D," Economic Modelling, Elsevier, Elsevier, vol. 36(C), pages 484-494.
  8. Darren Filson & Richard T. Gretz, 2003. "Strategic Innovation and Technology Adoption in an Evolving Industry," Claremont Colleges Working Papers, Claremont Colleges 2003-08, Claremont Colleges.
  9. Russell, Bonita I. & Shapiro, Daniel & Vining, Aidan R., 2010. "The evolution of the Canadian mining industry: The role of regulatory punctuation," Resources Policy, Elsevier, Elsevier, vol. 35(2), pages 90-97, June.
  10. Hyunbae Chun & M. Ishaq Nadiri, 2008. "Decomposing Productivity Growth in the U.S. Computer Industry," The Review of Economics and Statistics, MIT Press, vol. 90(1), pages 174-180, February.
  11. 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, Elsevier, vol. 86(C), pages 78-91.
  12. Bent Dalum & Christian Ø.R. Pedersen & Gert Villumsen, 2002. "Technoligical Life Cycles Regional Clusters Facing Disruption," DRUID Working Papers, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies 02-10, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.

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