Myopic Selection

@article{Geroski2002MyopicS,
  title={Myopic Selection},
  author={Paul A. Geroski and Mariana Mazzucato},
  journal={Microeconomic Theory eJournal},
  year={2002}
}
The severity of selection mechanisms and the myopia of selection are explored through a duopoly model where one firm tries to move down a learning curve in which costs are initially higher than its rival's but ultimately much lower. A trade-off is found between catch-up time and asymptotic market share: The more severe are selection pressures, the less likely is it that the learning technology will survive; however, if it does survive, the learning technology will in the limit be more… Expand
Firm Size, Innovation, and Market Share Instability: the Role of Negative Feedback and Idiosyncratic Events
  • M. Mazzucato
  • Economics, Computer Science
  • Adv. Complex Syst.
  • 2000
TLDR
An evolutionary model is built which finds that market share instability is the highest under the negative feedback regime, when the industry specific level of technological opportunity is intermediate, and when shocks are neither very large nor very small. Expand
Survey of the literature on innovation and economic performance
Despite very strong differences in their treatment of technological change in economic theory, both the neoclassical and the more Schumpetarian (and evolutionary) economic approaches often assumeExpand
OP-ICCJ130029 851..868
  • 2013

References

SHOWING 1-10 OF 14 REFERENCES
The Learning Curve, Market Dominance and Predatory Pricing
Strategic implications of the learning curve hypothesis are analyzed in the context of a price-setting, differentiated duopoly selling to a sequence of heterogeneous buyers with uncertain demands. AExpand
The Learning Curve and Competition
This article develops a model of competitive interaction and industry evolution in the presence of a learning curve. The learning curve is a function relating the unit costs of the individual firm toExpand
Evolutionary Economics and Creative Destruction
The central theme of this book is competition treated as an evolutionary process in which the focus is upon economic change and not economic equilibrium. This theme is explored by linking togetherExpand
Economics and the Self-Organisation Approach: Alfred Marshall Revisited
The economics of Alfred Marshall is reassessed in the light of new developments in the natural sciences whereby a nonequilibrium thermodynamic approach is adopted to analyze self-organization inExpand
Competing Technologies , Increasing Returns , and Lock-In by Historical Events
Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may useExpand
THE LEARNING CURVE: HISTORICAL REVIEW AND COMPREHENSIVE SURVEY
The use of the learning curve has been receiving increasing attention in recent years. Much of this increase has been due to learning curve applications other than in the traditional learning curveExpand
A Model of Demand with Interactions Among Consumers
The aim of this paper is to study emergent patterns of demand when there are social interactions between different consumers. Specially, our concern is with the case in which consumers' preferencesExpand
1989),”Competing Technologies, Increasing Returns, and Lock-In by Historical Small Events,
  • Economic Journal,
  • 1989
Innovation, Diversity and Diffusion: A Self-Organizing Model
  • Economic Journal
  • 1988
Innovation, diversity and diffusion: a selforganizing model
  • Evolutionary Economics and Creative Destruction
  • 1988
...
1
2
...