The Nature and Effects of Technological Change over the Industry Life Cycle
This paper estimates quality and cost innovations in the early automobile, personal computer, rigid disk drive, computer monitor, and computer printer industries using industry-level data on firm numbers, price, quantity, and quality and an equilibrium model of industry evolution. The results challenge the notion that new industries experience quality innovation early on and cost innovation later on. In the microelectronics industries the rate of quality improvement does not diminish over time. In the automobile industry, even though the rate of quality improvement is highest early on, the profitability of quality advantages is highest later on. (Copyright: Elsevier)
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Volume (Year): 4 (2001)
Issue (Month): 2 (July)
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- Boyan Jovanovic & Glenn MacDonald, 1993.
"The Life-Cycle of a Competitive Industry,"
NBER Working Papers
4441, National Bureau of Economic Research, Inc.
- Jovanovic, B. & MacDonald, G., 1993. "The Life Cycle of a Competitive Industry," Working Papers 93-34, C.V. Starr Center for Applied Economics, New York University.
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- Steven Klepper & Elizabeth Graddy, 1990. "The Evolution of New Industries and the Determinants of Market Structure," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 27-44, Spring.
- Stavins, Joanna, 1995. "Model Entry and Exit in a Differentiated-Product Industry: The Personal Computer Market," The Review of Economics and Statistics, MIT Press, vol. 77(4), pages 571-84, November.
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