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Firm size, innovation and market share instability: the role of negative feedback and idiosyncratic events
journal contribution
posted on 2023-06-08, 18:57 authored by Mariana MazzucatoAn evolutionary model is built which uses structural and random factors to account for the emergence of market share instability and industry concentration. The structural factors are studied through the relationship between firm size and innovation (dynamic returns to scale) while the random factors are studied through the effect of shocks on this feedback relationship. We find that market share instability is the highest under the negative feedback regime, when the industry specific level of technological opportunity is intermediate, and when shocks are neither very large nor very small.
History
Publication status
- Published
Journal
Advances in Complex SystemsISSN
0219-5259Publisher
World Scientific PublishingExternal DOI
Issue
1-4Volume
3Page range
417-431Department affiliated with
- SPRU - Science Policy Research Unit Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2015-01-06Usage metrics
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