A Baseline Model of Industry Evolution
Authors: Winter SG, Kaniovski YM, Dosi G
Publication Year: 1997
Reference: IIASA Interim Report IR-97-013
Abstract
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.