Modeling industrial dynamics with innovative entrants
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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- Timothy Dunne & Mark J. Roberts & Larry Samuelson, 1988.
"Patterns of Firm Entry and Exit in U.S. Manufacturing Industries,"
RAND Journal of Economics,
The RAND Corporation, vol. 19(4), pages 495-515, Winter.
- 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.
- Geroski, P. A., 1995. "What do we know about entry?," International Journal of Industrial Organization, Elsevier, vol. 13(4), pages 421-440, December.
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- S.G. Winter & Y.M. Kaniovski & G. Dosi, 1997.
"A Baseline Model of Industry Evolution,"
ir97013, International Institute for Applied Systems Analysis.
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"The Dynamics of Industrial Competition,"
Cambridge University Press, number 9780521465618, October.
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- Richard Ericson & Ariel Pakes, 1995. "Markov-Perfect Industry Dynamics: A Framework for Empirical Work," Review of Economic Studies, Oxford University Press, vol. 62(1), pages 53-82.
- Chris Freeman & Luc Soete, 1997. "The Economics of Industrial Innovation, 3rd Edition," MIT Press Books, The MIT Press, edition 3, volume 1, number 0262061953.
- Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-70, May.
- 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.
- Malerba, Franco & Orsenigo, Luigi, 1995. "Schumpeterian Patterns of Innovation," Cambridge Journal of Economics, Oxford University Press, vol. 19(1), pages 47-65, February.
- 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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