Technology and Market Structure: Theory and History

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Overview

Economists have traditionally taken two very different approaches to studying market structure. One looks to "industry characteristics" to explain why different industries develop in different ways; the other looks to the pattern of firm growth within a "typical" industry to describe the evolution of the size distribution of firms. In his new book, John Sutton sets out a unified theory that encompasses both approaches, while generating a series of novel predictions as to how markets evolve. Using statistical analysis and a detailed examination of industry histories, he rigorously tests these new predictions. Data in the paperback edition have been revised and updated.
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Product Details

  • ISBN-13: 9780262193993
  • Publisher: MIT Press
  • Publication date: 10/23/1998
  • Pages: 676
  • Product dimensions: 6.51 (w) x 9.44 (h) x 1.84 (d)

Meet the Author

John Sutton is Sir John Hicks Professor of Economics at the London School of Economics.
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Table of Contents

Acknowledgments
Foreword
Part I A Bound to Concentration
1 Introduction
2 Theory I: Equilibrium Configurations
3 Technology and Market Structure
4 From Theory to Testing
5 Natural EXperiments: The HighAlpha Industries
6 The LowAlpha Industries
7 Scale, Learning, and the Unit Size Effect
8 Not by Technology Alone . . .
Part II The Size Distribution
9 An Outline of the Argument
10 In Search of a Benchmark
11 Theory II: Independent Submarkets
12 Testing the Independent Submarkets Model
Part III EXtensions and Limitations
13 Technology and Market Structure Revisited
14 EXtensions and Limitations I: Learning Effects
15 EXtensions and Limitations II: Networks and Standards
16 A CompleX Case
17 Summing Up
Afterword
Appendices
References
IndeX
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