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Firm Size, Innovation, and Market Share Instability: the Role of Negative Feedback and Idiosyncratic Events

Author

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  • Mariana Mazzucato

    (Open University, Walton Hall, Milton Keynes, MK7 6AA, United Kingdom)

Abstract

An evolutionary model is built which uses structural and random factors to account for the emergence of market share instability and industry concentration. The structural factors are studied through the relationship between firm size and innovation (dynamic returns to scale) while the random factors are studied through the effect of shocks on this feedback relationship. We find that market share instability is the highest under the negative feedback regime, when the industry specific level of technological opportunity is intermediate, and when shocks are neither very large nor very small.

Suggested Citation

  • Mariana Mazzucato, 2000. "Firm Size, Innovation, and Market Share Instability: the Role of Negative Feedback and Idiosyncratic Events," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 3(01n04), pages 417-431.
    • Handle: RePEc:wsi:acsxxx:v:03:y:2000:i:01n04:n:s0219525900000297
    DOI: 10.1142/S0219525900000297
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