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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 Mazzucato
An 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 Systems

ISSN

0219-5259

Publisher

World Scientific Publishing

Issue

1-4

Volume

3

Page range

417-431

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2015-01-06

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