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Market Share Dynamics and the ‘Persistence of Leadership’ Debate

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  • John Sutton
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    Abstract

    This paper introduces a novel analysis of the classic "persistence of leadership" question, and applies it to a newly constructed dataset for Japanese manufacturing. The analysis rests on an appeal to an empirical "scaling relationship" between current market share and the variance of changes in market share. This relationship provides a powerful "model selection criterion" for candidate models of market share dynamics. It also makes it feasible, even in small datasets, to test directly for the properties of the "first passage times" corresponding to loss of leadership.

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    File URL: http://sticerd.lse.ac.uk/dps/ei/ei37.pdf
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    Bibliographic Info

    Paper provided by Suntory and Toyota International Centres for Economics and Related Disciplines, LSE in its series STICERD - Economics of Industry Papers with number 37.

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    Date of creation: Jan 2004
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    Handle: RePEc:cep:stieip:37

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    Web page: http://sticerd.lse.ac.uk/_new/publications/default.asp

    Related research

    Keywords: market share; industry dynamics; scaling; Japanese economy;

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    1. Sutton, John, 1980. "A Model of Stochastic Equilibrium in a Quasi-Competitive Industry," Review of Economic Studies, Wiley Blackwell, vol. 47(4), pages 705-22, July.
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    Cited by:
    1. Giannetti, C., 2008. "Unit Roots and the Dynamics of Market Shares: An Analysis Using Italian Banking Micro-Panel," Discussion Paper 2008-44, Tilburg University, Center for Economic Research.

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