ISBN:
9780415706841
Language:
English
Pages:
Online-Ressource (159 p)
Edition:
Online-Ausg.
Series Statement:
Routledge Advances in Experimental and Computable Economics
Parallel Title:
Print version A Computational Model of Industry Dynamics
DDC:
302.35
Keywords:
Electronic books
Abstract:
The economics literature on industry dynamics contains a wide array of empirical works identifying a set of stylized facts. There have been several attempts at constructing analytical models to explain some of these regularities. These attempts are highly stylized and limited in scope to keep the analyses tractable. A general model of industry evolution capable of generating firm and industry behaviour that can match the data is needed.This book endeavours to explain many well-documented aspects of the evolution of industries over time. It uses an agent-based computational model in which artif
Description / Table of Contents:
Cover; Title Page; Copyright Page; Dedication; Table of Contents; List of figures; List of tables; Preface; Acknowledgments; 1 Non-equilibrium dynamics in the evolution of industries; Notes; 2 Models of industry dynamics; 2.1 Stationary equilibrium models and the purely analytical approach; 2.2 Markov perfect equilibrium models and the computational approach; 2.3 Agent-based computational economics approach; Notes; 3 A dynamic model of Schumpeterian competition; 3.1 Conceptual building blocks; 3.2 The model: basic features; 3.3 The model: dynamic structure; Notes
Description / Table of Contents:
4 Growing an industry in silico4.1 Design of computational experiments; 4.2 The baseline: generating the proto-history; Notes; 5 Shakeouts: limited foresight, technological shocks, and transient industry dynamics; 5.1 Shakeout in an infant industry; 5.2 Technological change and recurrent shakeouts; Notes; 6 Industry dynamics in the steady state: between-industry variations; 6.1 Defining the steady state; 6.2 Temporal patterns along the steady state within an industry; 6.3 Between-industry variations in steady states; 6.4 Implications for cross-industries studies; Notes
Description / Table of Contents:
7 Firm dynamics in the steady state: within-industry variations7.1 Technological diversity; 7.2 Market share inequality; 7.3 Life span of firms; 8 Cyclical industrial dynamics with fluctuating demand; 8.1 An overview; 8.2 Stochastic variation in demand; 8.3 Deterministic variation in demand; 8.4 Summary; Notes; 9 Conclusion; References; Index
Note:
Description based upon print version of record
