ISSN:
1432-1386
Keywords:
JEL-Classification: L13
;
O31
;
Key words: Evolutionary economics
;
Schumpeterian competition
;
Innovation
;
Oligopoly
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Abstract. The modeling of Schumpeterian competition as a process of innovation, imitation and selection was first presented by Nelson/Winter (1982) in a simulation study and further analyzed in a similar but general analytical formulation by Iwai (1984a, 1984b). Their results concerning the relations between the combination of the different forces of Schumpeterian competition and market structure respectively the distributions of profits are interesting, but restricted to competitive markets. Comparing rules of thumb and satisficing for the Ramp;D decisions the present study analyzes the process of Schumpeterian competition in a heterogeneous oligopoly. Firstly, the authors find for the Ramp;D-concentration relation results contrary to the traditional interpretation of Schumpeter. Secondly, Iwai’s (1984a, 1984b) qualitative results hold in this less restrictive modeling.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/s001910050030
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