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http://ssrn.com/abstract=1354333
 
 

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Industry Dynamics with Knowledge-Based Competition: A Computational Study of Entry and Exit Patterns


Myong-Hun Chang


Cleveland State University - Economics

March 5, 2009


Abstract:     
I propose a computational model of industry evolution capable of matching many stylized facts. It views the firm as a myopic but adaptive entity whose survival depends on its ability to perform various activities with greater efficiency than its rivals. In this model, the shakeout pattern arises naturally in the early stage of industrial development. I provide a full comparative dynamics analysis of how various industry-specific factors determine the numbers and the rates of entries and exits over time as well as the ages of the exiting firms.

Number of Pages in PDF File: 44

Keywords: Industry Dynamics, Shakeouts, Innovation, Imitation, Agent-Based Computational Model

JEL Classification: L10, O30

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Date posted: March 8, 2009  

Suggested Citation

Chang, Myong-Hun, Industry Dynamics with Knowledge-Based Competition: A Computational Study of Entry and Exit Patterns (March 5, 2009). Available at SSRN: http://ssrn.com/abstract=1354333 or http://dx.doi.org/10.2139/ssrn.1354333

Contact Information

Myong-Hun Chang (Contact Author)
Cleveland State University - Economics ( email )
Cleveland, OH
United States
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