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

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"The book begins by reviewing the connection between firm size, innovation and market structure from a theoretical and an empirical point of view, with emphasis on the 'complexity' that defines this relationship. It then goes on to build an evolutionary model which explores different Schumpeterian propositions regarding the positive and negative feedback between firm size and innovation as well as the role of idiosyncratic random events on industry market structure." "The concluding chapter uses 100 years in the history of the US automobile industry to explore the relationship between market share instability and stock price volatility and the degree to which this 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."--BOOK JACKET.
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Editorial Reviews

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 (
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Product Details

Table of Contents

List of figures
List of tables
1 Firm-size dynamics: new ideas and dynamic methods 1
2 A computational model of economies of scale and market share instability: a deterministic analysis 26
3 The effect of idiosyncratic events on the feedback between firm size and innovation: a stochastic analysis 67
4 Market share instability and stock price volatility during the industry life-cycle: the US automobile industry 93
Concluding statement 119
Appendix 123
Bibliography 125
Index 135
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