Industrial dynamics, path-dependence and technological change
DOI:
关键词: Markov perfect equilibrium 、 Directed graph 、 Competition (economics) 、 Technological change 、 Engineering 、 Ergodicity 、 Process (engineering) 、 Microeconomics 、 Population 、 Path dependence 、 Mathematical economics
摘要: In this paper, I propose a game-theoretic, intertemporal model of industrial competition in which active firms innovate, imitate, enter or exit as it is optimal some prevailing (Markov Perfect) equilibrium. The main novel feature the approach that technological change modelled advance along directed graph technologies. This permits rigorous formalization such key notions distance, precedence, switching coss, all play crucial role model. particular, they underlie process highly path-dependent. theoretical analysis paper centers on existence and ergodicity issues but also investigates effect different structures (digraphs) induced population dynamics.
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