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The Evolution of New Markets

Author

Listed:
  • Geroski, Paul

    (Professor of Economics, London Business School; Deputy Chairman, Competition Commission)

Abstract

How do markets evolve? Why are some innovations picked up straightaway whilst others take years to be commercialized? Are there first-mover advantages? Why do we behave with 'irrational exuberance' in the early evolution of markets as was the case with the dot.com boom? Paul Geroski is a leading economist who has taught economics to business school students, managers, and executives at the London Business School. In this book he explains in a refreshingly clear style how markets develop. In particular he stresses how the early evolution of markets can significantly shape their later development and structure. His purpose is to show how a good grasp of economics can improve managers' business and investment decisions. Whilst using the development of the Internet as a case in point, Geroski also refers to other sectors and products, for example cars, television, mobile phones, and personal computers. This short book is an ideal introduction for managers, MBA students, and the general reader wanting to understand how markets evolve.

Suggested Citation

  • Geroski, Paul, 2003. "The Evolution of New Markets," OUP Catalogue, Oxford University Press, number 9780199248896.
  • Handle: RePEc:oxp:obooks:9780199248896
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    Cited by:

    1. repec:eee:transa:v:106:y:2017:i:c:p:1-11 is not listed on IDEAS
    2. Saras Sarasvathy & Nicholas Dew, 2005. "New market creation through transformation," Journal of Evolutionary Economics, Springer, vol. 15(5), pages 533-565, November.
    3. Cristopher Spencer & Paul Temple, 2013. "Standards, Learning and Growth in Britain 1901-2009," School of Economics Discussion Papers 0613, School of Economics, University of Surrey.
    4. Jan Bentzen & Erik Madsen & Valdemar Smith, 2012. "Do firms’ growth rates depend on firm size?," Small Business Economics, Springer, vol. 39(4), pages 937-947, November.
    5. S. Thompson, 2009. "Price competition in the presence of rapid innovation and imitation: the case of digital cameras," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 18(1), pages 93-106.
    6. Battisti, Giuliana & Iona, Alfonsina, 2009. "The intra-firm diffusion of complementary innovations: Evidence from the adoption of management practices by British establishments," Research Policy, Elsevier, vol. 38(8), pages 1326-1339, October.
    7. Heli Koski & Tobias Kretschmer, 2007. "Innovation and Dominant Design in Mobile Telephony," Industry and Innovation, Taylor & Francis Journals, vol. 14(3), pages 305-324.
    8. Haynes, Michelle & Thompson, Steve, 2008. "Price, price dispersion and number of sellers at a low entry cost shopbot," International Journal of Industrial Organization, Elsevier, vol. 26(2), pages 459-472, March.
    9. Michael Böheim, 2010. "Competition Policy in the Wake of the Economic Crisis," WIFO Monatsberichte (monthly reports), WIFO, vol. 83(10), pages 831-846, October.
    10. Bentzen, Jan & Madsen, Erik Strøjer & Smith, Valdemar, 2006. "The Growth Opportunities for SMEs?," Working Papers 06-3, University of Aarhus, Aarhus School of Business, Department of Economics.
    11. Brandt, Loren & Thun, Eric, 2016. "Constructing a Ladder for Growth: Policy, Markets, and Industrial Upgrading in China," World Development, Elsevier, vol. 80(C), pages 78-95.
    12. Möllering, Guido, 2009. "Market constitution analysis: A new framework applied to solar power technology markets," MPIfG Working Paper 09/7, Max Planck Institute for the Study of Societies.
    13. J.S. Metcalfe, 2005. "Ed Mansfield and the Diffusion of Innovation: An Evolutionary Connection," The Journal of Technology Transfer, Springer, vol. 30(2_2), pages 171-181, January.
    14. König, Raina & Stephan, Michael, 2007. "Market take-off in systemic industries: The early industry life cycle stage in the mobile payment industry," Discussion Papers on Strategy and Innovation 07-03, Philipps-University Marburg, Department of Technology and Innovation Management (TIM).
    15. Shum, Kwok L. & Watanabe, Chihiro, 2009. "An innovation management approach for renewable energy deployment--the case of solar photovoltaic (PV) technology," Energy Policy, Elsevier, vol. 37(9), pages 3535-3544, September.
    16. João Leitão, 2004. "Demand Pull and Supply Push in Portuguese Cable Television," Econometrics 0411009, EconWPA.
    17. Noweski, Michael, 2008. "Ausreifung von Politikfeldern - Metapher oder Theorie?," Discussion Papers, Research Group Public Health SP I 2008-304, Social Science Research Center Berlin (WZB).
    18. Forbes, Daniel P. & Kirsch, David A., 2011. "The study of emerging industries: Recognizing and responding to some central problems," Journal of Business Venturing, Elsevier, vol. 26(5), pages 589-602, September.
    19. repec:wsi:ijimxx:v:11:y:2007:i:04:n:s1363919607001874 is not listed on IDEAS
    20. Michael Böheim, 2010. "Competition Policy in the Wake of the Economic Crisis," Austrian Economic Quarterly, WIFO, vol. 15(4), pages 349-363, December.
    21. Holzl, Werner & Reinstaller, Andreas, 2007. "The impact of productivity and demand shocks on structural dynamics: Evidence from Austrian manufacturing," Structural Change and Economic Dynamics, Elsevier, vol. 18(2), pages 145-166, June.
    22. Möllering, Guido, 2010. "Collective market-making efforts at an engineering conference," MPIfG Discussion Paper 10/2, Max Planck Institute for the Study of Societies.
    23. Nair, Sujith & Paulose, Hanna, 2014. "Emergence of green business models: The case of algae biofuel for aviation," Energy Policy, Elsevier, vol. 65(C), pages 175-184.
    24. Michelle Haynes & Steve Thompson & Peter W. Wright, 2014. "New Model Introductions, Cannibalization and Market Stealing: Evidence from Shopbot Data," Manchester School, University of Manchester, vol. 82(4), pages 385-408, July.

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