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Evolutionary game theory and organizational ecology: The case of resource-partitioning theory

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  • ZHOU, Chaohong
  • VAN WITTELOOSTUIJN, Arjen
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    Abstract

    In this paper, we construct a mathematical model that applies tools from evolutionary game theory to issues in organizational ecology. Evolutionary game theory shares the key feature of mathematical rigor with the industrial organization tradition, but is similar to organizational ecology by emphasizing evolutionary dynamics. Evolutionary game theory may well be a complementary modeling tool for the analytical study of organizational ecology issues, next to formal logic, standard game theory, and agent-based simulation. We illustrate this claim in the context of resource-partitioning theory. We assess the impact of an organization population’s resource space shape and scale economies on organizational performance and market evolution. The model demonstrates that the shift of resource distribution from homogeneous (heterogeneous) to heterogeneous (homogeneous) benefits specialism (generalism). On top of that, we offer a new result by revealing the distinct effects of external and internal scale economies on market evolution.

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    File URL: https://www.uantwerpen.be/images/uantwerpen/container1244/files/TEW%20-%20Onderzoek/Working%20Papers/ACED/2009/RPS-2009-002%20ACED%201.pdf
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    Bibliographic Info

    Paper provided by University of Antwerp, Faculty of Applied Economics in its series ACED Working Papers with number 2009001.

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    Length: 58 pages
    Date of creation: May 2009
    Date of revision:
    Handle: RePEc:ant:acedwp:2009001

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    Web page: https://www.uantwerp.be/en/faculties/applied-economic-sciences/
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    Related research

    Keywords: Evolutionary game theory; Organizational ecology; Resource partitioning; Competitive dynamics;

    References

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    1. Rhode, Paul & Stegeman, Mark, 2001. "Non-Nash equilibria of Darwinian dynamics with applications to duopoly," International Journal of Industrial Organization, Elsevier, vol. 19(3-4), pages 415-453, March.
    2. Novshek, William & Sonnenschein, Hugo., 1983. "General Equilibrium with Free Entry: A Synthetic Approach to the Theory of Perfect Competition," Working Papers 497, California Institute of Technology, Division of the Humanities and Social Sciences.
    3. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
    4. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, December.
    5. Martin Ruef, 2004. "For whom the bell tolls: ecological perspectives on industrial decline and resurgence," Industrial and Corporate Change, Oxford University Press, vol. 13(1), pages 61-89, February.
    6. Daniel Friedman, 2010. "On Economic Applications of Evolutionary Game Theory," Levine's Working Paper Archive 53, David K. Levine.
    7. repec:fth:iniesr:487 is not listed on IDEAS
    8. Hopkins, Ed, 1997. " Evolving Game Theory," Journal of Economic Surveys, Wiley Blackwell, vol. 11(1), pages 101-06, March.
    9. Christophe Boone & Arjen van Witteloostuijn, 2004. "A unified theory of market partitioning: an integration of resource-partitioning and sunk cost theories," Industrial and Corporate Change, Oxford University Press, vol. 13(5), pages 701-725, October.
    10. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58, pages 211.
    11. Roch Parayre & Dileep Hurry, 2001. "Corporate investment and strategic stability in hypercompetition," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 22(4-5), pages 281-298.
    12. Gerard van der Laan & A.F. Tieman, 1996. "Evolutionary Game Theory and the Modelling of Economic Behavior," Tinbergen Institute Discussion Papers 96-172/8, Tinbergen Institute.
    13. Vickers, John, 1985. "Delegation and the Theory of the Firm," Economic Journal, Royal Economic Society, vol. 95(380a), pages 138-47, Supplemen.
    14. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    15. Weibull, Jörgen W., 1992. "An Introduction to Evolutionary Game Theory," Working Paper Series 347, Research Institute of Industrial Economics.
    16. Friedman, Daniel & K., C. Fung, 1996. "International trade and the internal organization of firms: An evolutionary approach," Journal of International Economics, Elsevier, vol. 41(1-2), pages 113-137, August.
    17. Gerard van der Laan & A.F. Tieman, 1996. "Evolutionary Game Theory and the Modelling of Economic Behavior," Tinbergen Institute Discussion Papers 96-172/8, Tinbergen Institute.
    18. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, December.
    19. Friedman, Daniel, 1991. "Evolutionary Games in Economics," Econometrica, Econometric Society, vol. 59(3), pages 637-66, May.
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