Technological change and market structure: An evolutionary approach
نویسندگان
چکیده
منابع مشابه
Market Structure and the Direction of Technological Change∗
We study a model where innovation comes in two varieties: improvements on existing products, and new products that expand the scope of a technology. We make this distinction in order to highlight how market structure can determine not only the quantity of innovation but also its direction. We study two market structures. The first is the canonical one from the endogenous growth literature, wher...
متن کاملEconomic Integration, Market Power and Technological Change
Economic Integration, Market Power and Technological Change We examine a common market which expands by integrating new regions. Capitalists are strategically interdependent through the goods market and they improve their productivity through R&D. Production and R&D employ unionized workers. The purpose of integration is to maximize a weighed average of workers’ and capitalists’ utilities. The ...
متن کاملTechnological Change, the Labor market and the Stock Market
This paper presents a model in which a partially anticipated technology shock results, in the short run, in lower investment and higher unemployment. Because of the expectation of future lower proÞts, the market value of existing Þrms and the wages they pay decreases before the new (better) technology becomes available. When the new technology arrives, the market value of new Þrms rises, aver...
متن کاملInstitutional Persistence and Change: An Evolutionary Approach
We propose an evolutionary theory of institutional persistence and change. Many institutional changes are decentralized, with a large number of private actors informally adopting new practices that are later confirmed by changes in formal governance structures. For example, land tenure norms, conventional crop shares, inheritance practices, and traditional property rights all are informal insti...
متن کاملTechnological Change, Computerization, and the Wage Structure
1 Overall wage inequality and educational wage differentials have expanded substantially in the United States over the past two decades. This widening of the wage structure has coincided with the rapid computerization of the work place. Thus, it is not surprising that many labor market analysts have tried to draw a causal connection between rising earnings inequality and increases in growth rat...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Journal of Industrial Organization
سال: 1996
ISSN: 0167-7187
DOI: 10.1016/0167-7187(94)00467-6