A Baseline Model of Industry Evolution
The paper analyses the properties and outcomes of competitive dynamics in industries characterized by heterogeneous firms and continuing stochastic entry. A formal analytical apparatus is developed, able to derive some generic properties of the underlying competition process combining persistent technological heterogeneity, differential growth of individual firms and turnover.
|Date of creation:||Mar 1997|
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- Baldwin,John R. & Gorecki,Paul, 1998.
"The Dynamics of Industrial Competition,"
Cambridge University Press, number 9780521633574, December.
- Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-70, May.
- Richard Ericson & Ariel Pakes, 1995. "Markov-Perfect Industry Dynamics: A Framework for Empirical Work," Review of Economic Studies, Oxford University Press, vol. 62(1), pages 53-82.
- Robert H Mcguckin & Bradford J Jensen, 1996.
"Firm Performance And Evolution Empirical Regularities In The U.S. Microdata,"
96-10, Center for Economic Studies, U.S. Census Bureau.
- Jensen, J Bradford & McGuckin, Robert H, 1997. "Firm Performance and Evolution: Empirical Regularities in the US Microdata," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 25-47.
- Ufuah, Allan N & Utterback, James M, 1997. "Responding to Structural Industry Changes: A Technological Evolution Perspective," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 183-202.
- Klepper, Steven, 1997. "Industry Life Cycles," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 145-81.
- Dosi, Giovanni, et al, 1997. "Industrial Structures and Dynamics: Evidence, Interpretations and Puzzles," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 3-24.
- Hopenhayn, Hugo A, 1992. "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica, Econometric Society, vol. 60(5), pages 1127-50, September.
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