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Modeling Industrial Dynamics with Innovative Entrants

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Author Info

  • Sydney Winter
  • Yuri Kaniovski
  • Giovanni Dosi

Abstract

The paper analyzes some generic features of industrial dynamics whereby innovative change is carried, stochastically, by new entrants. Relying on the formal representation suggested in Winter et al. (1997), it studies both the asymptotic properties of such processes and their appropriability to account for a few empirical stylized facts, including persistent entry and exit, skewed size distributions and turbulence in market shares.

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Bibliographic Info

Paper provided by Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy in its series LEM Papers Series with number 1999/01.

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Date of creation: 11 Nov 1999
Date of revision:
Handle: RePEc:ssa:lemwps:1999/01

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Related research

Keywords: evolution; competition; learning; stochastic entry; entrepreneurial start-ups; expanding set of technological opportunities; industrial dynamics;

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References

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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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  1. Dunne, T. & Roberts, M.J. & Samuelson, L., 1988. "Pattenrs Of Firm Entry And Exit In U.S. Manufacturing Industries," Papers 1-88-2, Pennsylvania State - Department of Economics.
  2. 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.
  3. Ijiri, Yuji & Simon, Herbert A, 1974. "Interpretations of Departures from the Pareto Curve Firm-Size Distributions," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages 315-31, Part I, M.
  4. Geroski, P. A., 1995. "What do we know about entry?," International Journal of Industrial Organization, Elsevier, vol. 13(4), pages 421-440, December.
  5. Malerba, Franco & Orsenigo, Luigi, 1995. "Schumpeterian Patterns of Innovation," Cambridge Journal of Economics, Oxford University Press, vol. 19(1), pages 47-65, February.
  6. Steven J. Davis & John C. Haltiwanger & Scott Schuh, 1998. "Job Creation and Destruction," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262540932.
  7. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-70, May.
  8. M. Valente, 1997. "Laboratory for Simulation Development User Manual," Working Papers ir97020, International Institute for Applied Systems Analysis.
  9. Dosi, Giovanni, 1988. "Sources, Procedures, and Microeconomic Effects of Innovation," Journal of Economic Literature, American Economic Association, vol. 26(3), pages 1120-71, September.
  10. Baldwin,John R. & Gorecki,Paul With contributions by-Name:Caves,Richard E. With contributions by-Name:Dunne,Tim With contributions by-Name:Haltiwanger,John, 1998. "The Dynamics of Industrial Competition," Cambridge Books, Cambridge University Press, number 9780521633574, October.
    • Baldwin,John R. & Gorecki,Paul With contributions by-Name:Caves,Richard E. With contributions by-Name:Dunne,Tim With contributions by-Name:Haltiwanger,John, 1995. "The Dynamics of Industrial Competition," Cambridge Books, Cambridge University Press, number 9780521465618, October.
  11. Ericson, Richard & Pakes, Ariel, 1995. "Markov-Perfect Industry Dynamics: A Framework for Empirical Work," Review of Economic Studies, Wiley Blackwell, vol. 62(1), pages 53-82, January.
  12. Chris Freeman & Luc Soete, 1997. "The Economics of Industrial Innovation, 3rd Edition," MIT Press Books, The MIT Press, edition 3, volume 1, number 0262061953.
  13. Hopenhayn, Hugo A, 1992. "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica, Econometric Society, vol. 60(5), pages 1127-50, September.
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Citations

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Cited by:
  1. Sandra Silva, 2004. "On evolutionary technological change and economic growth: Lakatos as a starting point for appraisal," FEP Working Papers 139, Universidade do Porto, Faculdade de Economia do Porto.
  2. Witold Kwasnicki, 2002. "Evolutionary models’ comparative analysis. Methodology proposition based on selected neo-schumpeterian models of industrial dynamics," Microeconomics 0203002, EconWPA.
  3. AOKI Masanao & YOSHIKAWA Hiroshi, 2007. "Non-Self-Averaging in Macroeconomic Models: A Criticism of Modern Micro-founded Macroeconomics," Discussion papers 07057, Research Institute of Economy, Trade and Industry (RIETI).
  4. Cefis, Elena & Ciccarelli, Matteo & Orsenigo, Luigi, 2007. "Testing Gibrat's legacy: A Bayesian approach to study the growth of firms," Structural Change and Economic Dynamics, Elsevier, vol. 18(3), pages 348-369, September.
  5. Américo Tristão Bernardes & Ricardo Machado Ruiz & Leonardo Costa Ribeiro & Eduardo da Motta e Albuquerque, 2006. "Modeling economic growth fuelled by science and technology," Textos para Discussão Cedeplar-UFMG td294, Cedeplar, Universidade Federal de Minas Gerais.
  6. Nanditha Mathew, 2012. "Drivers of Firm Growth: Micro-evidence from Indian Manufacturing," LEM Papers Series 2012/24, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  7. Elena Cefis & Matteo Ciccarelli & Luigi Orsenigo, 2002. "From Gibrat’s legacy to Gibrat’s fallacy. A Bayesian approach to study the growth of firms," Working Papers 0206, University of Bergamo, Department of Economics.
  8. Mazzucato, Mariana, 2002. "Giovanni Dosi, Innovation, organization and economic dynamics: Selected essays: Edward Elgar Publishing, Cheltenham, UK/Northampton, MA, 2000, pp. X+703; author index; price US$ 150.00," Journal of Economic Behavior & Organization, Elsevier, vol. 47(3), pages 335-341, March.
  9. Reinstaller ,Andreas & Hölzl,Werner, 2001. "The Technological Bias in the Establishment of a Technological Regime: the adoption and enforcement of early information processing technologies in US manufacturing, 1870-1930," Research Memorandum 013, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
  10. Franco Malerba, 2006. "Innovation, Industrial Dynamics and Industry Evolution: Progress and the Research Agendas," Revue de l'OFCE, Presses de Sciences-Po, vol. 97(5), pages 21-46.
  11. Nightingale, John J. & Piggott, Roley R. & Griffith, Garry R., 2002. "Explaining Market and Enterprise Structures in the Food Marketing Chain," Working Papers 12939, University of New England, School of Economics.
  12. Malerba, Franco, 2007. "Innovation and the dynamics and evolution of industries: Progress and challenges," International Journal of Industrial Organization, Elsevier, vol. 25(4), pages 675-699, August.
  13. Jacobides, Michael G. & Knudsen, Thorbjorn & Augier, Mie, 2006. "Benefiting from innovation: Value creation, value appropriation and the role of industry architectures," Research Policy, Elsevier, vol. 35(8), pages 1200-1221, October.
  14. Adam Jaffe & Richard Newell & Robert Stavins, 2002. "Environmental Policy and Technological Change," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 22(1), pages 41-70, June.
  15. Uwe Cantner & Jens J. Krüger & René Söllner, 2012. "Product quality, product price, and share dynamics in the German compact car market," Industrial and Corporate Change, Oxford University Press, vol. 21(5), pages 1085-1115, October.
  16. Windrum,Paul, 2004. "Neo-Schumpeterian Simulation Models," Research Memorandum 002, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
  17. Carolina Castaldi & Giovanni Dosi, 2003. "The Grip of History and the Scope for Novelty: Some Results and Open Questions on Path Dependence in Economic Processes," LEM Papers Series 2003/02, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  18. Teresa de Noronha Vaz & Purificación Vicente Galindo & Peter Nijkamp, 2013. "Modelling R&D and Innovation Support Systems – Analysis of Regional Cluster Structures in Innovation in Portugal," Tinbergen Institute Discussion Papers 13-107/VIII, Tinbergen Institute.
  19. Uwe Cantner & Jens Krüger, 2008. "Micro-heterogeneity and aggregate productivity development in the German manufacturing sector," Journal of Evolutionary Economics, Springer, vol. 18(2), pages 119-133, April.

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