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Technological Change And Market Structure: An Evolutionary Approach

Author

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  • Fernando Vega Redondo

    (Instituto Valenciano de Investigaciones Económicas)

Abstract

The paper studies an inter-temporal market context in which firms innovate, imitate, and compete in quantities and technological choices each period. Potential entrants enter if there are profitable opportunities; incumbent firms exit when they go bankrupt. The key aspect of the model is that technological change evolves along a directed graph. This graph reflects both the direction of technological change and the magnitude of costs involved in switching technologies. In this set-up, our main concern is to explore the implications of different technological structures on entry/exit dynamics and on the evolution of market characteristics (market concentration, prof itability variance, etc. )

Suggested Citation

  • Fernando Vega Redondo, 1991. "Technological Change And Market Structure: An Evolutionary Approach," Working Papers. Serie AD 1991-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    • Handle: RePEc:ivi:wpasad:1991-10
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    File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-1991-10.pdf
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    Cited by:

    1. Elena Cefis & Cristina Bettinelli & Alex Coad & Orietta Marsili, 2022. "Correction to: Understanding firm exit: a systematic literature review," Small Business Economics, Springer, vol. 59(2), pages 447-447, August.
    2. Asma Raies, 2004. "Innovation, learning and productivity improvement in developing countries: a dynamic model of technological adoption and industry evolution," Cahiers de la Maison des Sciences Economiques bla04112, Université Panthéon-Sorbonne (Paris 1).
    3. Raies, asma, 2005. "Technical change in Developing Countries: A dynamic model of adoption, learning and industry evolution," MPRA Paper 9529, University Library of Munich, Germany.
    4. Fernando Vega Redondo, 1993. "Industrial Dynamics, Path-Dependence And Technological Change," Working Papers. Serie AD 1993-04, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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