Market share dynamics and the â€˜persistence of leadershipâ€™ debate
This paper introduces a novel analysis of the classic â€œpersistence of leadershipâ€ question, and applies it to a newly constructed dataset for Japanese manufacturing. The analysis rests on an appeal to an empirical â€œscaling relationshipâ€ between current market share and the variance of changes in market share. This relationship provides a powerful â€œmodel selection criterionâ€ for candidate models of market share dynamics. It also makes it feasible, even in small datasets, to test directly for the properties of the â€œfirst passage timesâ€ corresponding to loss of leadership.
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- 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.
- Mueller,Dennis C., 1986.
"Profits in the Long Run,"
Cambridge University Press, number 9780521306935.
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