Cost Reduction Entry And The Dynamics Of Market Structure And Economic Growth
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| Author | : Pietro F. Peretto |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2008 |
| Genre | : |
| ISBN | : |
I study the joint determination of market structure and growth in an oligopolistic economy. Firms run in-house R&D programs to produce over time a continuous flow of cost-reducing (incremental) innovations. In symmetric equilibrium, the dispersion of resources across firms prevents the exploitation of scale economies in R&D and slows down growth. In free-entry equilibrium, the number of firms changes with market and technological conditions and is endogenous. In particular, R&D spending is a (fixed) sunk cost and there is a negative feed-back of the rate of growth on the number of firms. The explicit consideration of the interdependence of market structure and growth produces novel results. The comparative statics effects of many parameters are no longer those predicted by conventional wisdom. For example, I find negative effects of population size and R&D productivity on growth. The key to these results is a fundamental trade-off between growth and variety, between the rate of growth of consumption of each product and the number of products. Firms do not internalize this trade-off and the market grows faster and supplies less variety than is optimal. Taxes and subsidies bring Pareto efficiency.
| Author | : J. K. Sengupta |
| Publisher | : Springer |
| Total Pages | : 161 |
| Release | : 2007-05-16 |
| Genre | : Business & Economics |
| ISBN | : 0230211011 |
This book discusses both competitive and game theory models of industry growth through new technology, innovations and new entry, and provides a comprehensive treatment of various dynamic models of entry, applications of efficiency and entry models in computers and the pharmaceuticals industry, and applied models of Differential Games.
| Author | : J. K. Sengupta |
| Publisher | : Springer |
| Total Pages | : 174 |
| Release | : 2009-10-29 |
| Genre | : Business & Economics |
| ISBN | : 0230248667 |
The dynamics of industry growth, technology and globalization have a dramatic impact on the current economic growth of nations, significantly changing the market structure and world trade, and challenging the competitive equilibrium and their guiding principles. In the world of innovations and spill-over of R&D effects, various forms of non-competitive market structures have evolved in recent times. This book analyzes the new paradigm of change in technology intensive industries, with an emphasis in three main areas; non-parametric models of growth, sources of industry growth and non-competitive market structures in a dynamic framework. The authors to this volume utilise theoretical and empirical analysis to examine the role of R&D investment and Solow-type technical progress, using the non-parametric methods of efficiency analysis, also known as Data Envelopment Analysis. This book is essential reading for all interested in economic theory and innovation.
| Author | : Federico Etro |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 363 |
| Release | : 2009-06-17 |
| Genre | : Business & Economics |
| ISBN | : 3540874275 |
This is a key year for the evolution of international markets. The global economy is experiencing the most severe downturn since the thirties, it is temporarily leaving a path of sustained growth that characterized the last decades, and is facing an impressive decline of trade between countries. Banks are going bankrupt, the stock market has crashed, rms are going out of bu- ness or drastically reducing their production and exports, workers are being red and investment in new business creation or innovation is shrinking. Meanwhile, consumers con dence has dropped at its minimum, aggregate demand has been declining for months and expansionary policies and int- national coordination have failed to counteract the crisis until now. It is quite likely that all this will change sooner or later, but at the end of this crisis our understanding of the macroeconomy may change as well. In front of these crucial events, this book is not an attempt at proposing a radically new way of interpreting macroeconomic phenomena, and, as a m- ter of fact, it is not even a book on macroeconomic theory. My more modest goal is to collect a number of insights derived from recent research on the role of competition and innovation in the analysis of three topics: business cycles, trade and growth through innovations.
| Author | : Jati Sengupta |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 182 |
| Release | : 2012-05-02 |
| Genre | : Business & Economics |
| ISBN | : 1461438527 |
Economic growth of a country depends on its industries. The focus of modern growth theory is basically macroeconomics, although neoclassical models use competitive markets and the optimization behavior of households and firms in general equilibrium framework. The emphasis here is on industry growth, where the microfoundations of industry are analyzed in terms of economic efficiency. The various linkages which link firm growth with the industry growth are discerned here under various market structures both competitive and monopolistic. The role of information in facilitating market signals and allowing the adoption of new processes has been especially emphasized in this volume. Many issues of market failure and the suboptimality of competitive equilibria are due to incomplete and imperfect information structures and we need a comprehensive theory of information structures underlying the process of industry growth and its dynamics. This book will be of interest to economists studying economic and industry growth and innovation.
| Author | : Joseph Alois Schumpeter |
| Publisher | : |
| Total Pages | : 101 |
| Release | : 1981-08-01 |
| Genre | : Business cycles |
| ISBN | : 9780892663026 |
| Author | : |
| Publisher | : |
| Total Pages | : 1136 |
| Release | : 2002 |
| Genre | : Economic development |
| ISBN | : |
| Author | : Elie Appelbaum |
| Publisher | : Kingston, Ont. : Institute for Economic Research, Queen's University |
| Total Pages | : 74 |
| Release | : 1976 |
| Genre | : Incentives in industry |
| ISBN | : |
| Author | : Catherine J. Morrison Paul |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 366 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 1461550939 |
Cost Structure and the Measurement of Economic Performance is designed to provide a comprehensive guide for students, researchers or consultants who wish to model, construct, interpret, and use economic performance measures. The topical emphasis is on productivity growth and its dependence on the cost structure. The methodological focus is on application of the tools of economic analysis - the `thinking structure' provided by microeconomic theory - to measure technological or cost structure, and link it with market and regulatory structure. This provides a rich basis for evaluation of economic performance and its determinants. The format of the book stresses topics or questions of interest rather than the theoretical tools for analysis. Traditional productivity growth modeling and measurement practices that result in a productivity residual often called the `measure of our ignorance' are initially overviewed, and then the different aspects of technological, market and regulatory structure that might underlie this residual are explored. The ultimate goal is to decompose or explain the residual, by modeling and measuring a multitude of impacts that determine the economic performance of firms, sectors, and economies. The chapters are organized with three broad goals in mind. The first is to introduce the overall ideas involved in economic performance measurement and traditional productivity growth analysis. Issues associated with different types of (short and long run, internal and external) cost economies, market and regulatory impacts, and other general cost efficiencies that might impact these measures are then explored. Finally, some of the theoretical, data construction and econometric tools necessary to justify and implement these models are emphasized.
| Author | : Catherine J. Morrison Paul |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 383 |
| Release | : 1999-02-28 |
| Genre | : Business & Economics |
| ISBN | : 0792384032 |
Cost Structure and the Measurement of Economic Performance is designed to provide a comprehensive guide for students, researchers or consultants who wish to model, construct, interpret, and use economic performance measures. The topical emphasis is on productivity growth and its dependence on the cost structure. The methodological focus is on application of the tools of economic analysis - the `thinking structure' provided by microeconomic theory - to measure technological or cost structure, and link it with market and regulatory structure. This provides a rich basis for evaluation of economic performance and its determinants. The format of the book stresses topics or questions of interest rather than the theoretical tools for analysis. Traditional productivity growth modeling and measurement practices that result in a productivity residual often called the `measure of our ignorance' are initially overviewed, and then the different aspects of technological, market and regulatory structure that might underlie this residual are explored. The ultimate goal is to decompose or explain the residual, by modeling and measuring a multitude of impacts that determine the economic performance of firms, sectors, and economies. The chapters are organized with three broad goals in mind. The first is to introduce the overall ideas involved in economic performance measurement and traditional productivity growth analysis. Issues associated with different types of (short and long run, internal and external) cost economies, market and regulatory impacts, and other general cost efficiencies that might impact these measures are then explored. Finally, some of the theoretical, data construction and econometric tools necessary to justify and implement these models are emphasized.
