A Baseline Model of Industry Evolution
The paper analyses some general dynamic properties of industries characterized by heterogeneous firms and continuing stochastic entry. After a brief critical assessment of some significant drawbacks of recent contributions to modeling of stochastic industrial dynamics, we propose a novel analytical apparatus able to derive some generic properties of the underlying competition process combining persistent technological heterogeneity, differential growth of individual firms and turnover. The basic model, we suggest, is indeed applicable with proper modifications to a large class of evolutionary processes, well beyond industrial dynamics.
|Date of creation:||14 Dec 2003|
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- repec:cup:cbooks:9780521465618 is not listed on IDEAS
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96-10, Center for Economic Studies, U.S. Census Bureau.
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- repec:cup:cbooks:9780521633574 is not listed on IDEAS
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