A baseline model of industry evolution
AbstractThe paper analyses some general dynamic properties of industries characterized by heterogeneous firms and continuing stochastic entry. After a brief critical assessment of some significant drawbacks of recent contributions to modeling of stochastic industrial dynamics, we propose a novel analytical apparatus able to derive some generic properties of the underlying competition process combining persistent technological heterogeneity, differential growth of individual firms and turnover. The basic model, we suggest, is indeed applicable with proper modifications to a large class of evolutionary processes, well beyond industrial dynamics. Copyright Springer-Verlag Berlin/Heidelberg 2003
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Bibliographic InfoArticle provided by Springer in its journal Journal of Evolutionary Economics.
Volume (Year): 13 (2003)
Issue (Month): 4 (October)
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Web page: http://link.springer.de/link/service/journals/00191/index.htm
Other versions of this item:
- Sidney G. Winter & Yuri M. Kaniovski & Giovanni Dosi, 2003. "A Baseline Model of Industry Evolution," LEM Papers Series 2003/12, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- S.G. Winter & Y.M. Kaniovski & G. Dosi, 1997. "A Baseline Model of Industry Evolution," Working Papers ir97013, International Institute for Applied Systems Analysis.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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