Firm Size, Innovation and Market Structure: The Evolution of Industry Concentration and Instability

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ISBN-10:: 1840643463
ISBN-13:: 9781840643466
Pub. Date:: 10/25/2000
Publisher:: Edward Elgar Publishing

Firm Size, Innovation and Market Structure: The Evolution of Industry Concentration and Instability

Hardcover

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Overview

Firm Size, Innovation and Market Structure uses evolutionary dynamic theory, non-linear mathematics and computer simulation techniques to explore the relationship between firm size, innovation and market structure.

The book begins by reviewing the connection between these variables from a theoretical and an empirical point of view, and goes on to illustrate how analytical tools may be used in order to explore Schumpeterian propositions regarding firm size, innovation and the specific role of idiosyncratic events.

In the concluding chapter, Mariana Mazzucato focuses on the US automobile industry from 1900-1997, and uses empirical evidence in order to determine whether or not there is a relationship between market share instability and stock price volatility, and to what degree the relationship is connected to industry specific factors.

This innovative new book will prove invaluable to researchers, lecturers and scholars of industrial organisation, technology and market structure.

Product Details

ISBN-13:	9781840643466
Publisher:	Edward Elgar Publishing
Publication date:	10/25/2000
Series:	New Horizons in the Economics of Innovation series
Pages:	160
Product dimensions:	6.20(w) x 9.20(h) x 0.80(d)

About the Author

Mariana Mazzucato, University College London, UK

Contents: Introduction 1. Firm-Size Dynamics: New Ideas and Dynamic Methods 2. A Computational Model of Economies of Scale and Market Share Instability: A Deterministic Analysis 3. The Effect of Idiosyncratic Events on the Feedback between Firm Size and Innovation: A Stochastic Analysis 4. Market Share Instability and Stock Price Volatility during the Industry Life-Cycle: The US Automobile Industry Concluding Statement Bibliography Index

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Editorial Reviews

'Her [Mariana Mazzucato's] work represents an important alternative approach to conventional theories on market structure and the evolution of industries as well as on the innovation and diffusion of new technologies within them. She models her hypotheses in a simple but rigorous way which enables not only new insights to be gained on the subject but also allows the reader to learn about computer simulation methodology and issues related to complexity. The balanced nature of the book makes it very appealing to researchers in the area; a wide literature survey; an introduction to formal economic models on the issue (with topics also raised in complexity theory), and an empirical section.'

Willi Semmler

'. . . the book has shown how some interesting and non-intuitive results could be obtained about the dynamics of firm size, innovation, and market structure . . . the authors deserves appreciation to bring-forth such a valuable document, having a wide literature survey and full of empirical works related to firm size, innovation, and market structure.'

C.P. Gupta

'Mariana Mazzucato's Firm Size, Innovation and Market Structure is a stimulating exploration of the rapidly emerging field of evolutionary industrial organization. Mazzucato's research, which combines the insights of the classical economic tradition with the cutting-edge methodology of contemporary evolutionary and complex systems theory, provides a promising model for work in the field and poses a host of researchable and compelling questions. Students interested in pursuing the lines of enquiry pioneered by Schumpeter, Nelson, Winter and Dosi will find this book an invaluable resource.'

Duncan K. Foley

Mazzucato (London Business School and Open University) uses evolutionary economics, non-linear mathematics, and computer simulation techniques to explore the determinants of market instability and concentration which characterize the market structure of many different industries. The book begins by reviewing the connection between firm size, innovation and market structure from a theoretical and empirical point of view. It then advances an evolutionary model which addresses positive and negative feedback within this relationship. The concluding chapters present the history of the American automobile industry as a case study. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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Firm Size, Innovation and Market Structure: The Evolution of Industry Concentration and Instability

Firm Size, Innovation and Market Structure: The Evolution of Industry Concentration and Instability

Hardcover

Overview

Product Details

About the Author

Table of Contents

Customer Reviews

Overview

Product Details

About the Author

Table of Contents

Related Subjects

Customer Reviews