Innovation and Industry Bifurcation: the Evolution of R&D Strategy

R&D investment can bifurcate industries into groups following innovative and imitative strategies. To examine conditions for strategic bifurcation over time, we develop a model of industry evolution, including industry entry and exit processes, as well as a firm growth process. Growth results from adaptive search over a probabilistic fitness landscape with stochastic attractors. Computer simulation experiments link the strategic bifurcation of industries to landscape features, industry exit rates and strategic inertia. The model implies that mobility barriers can arise from evolutionary and environmental sources independently of firms' defensive actions.
Publisher
Oxford Univ Press
Issue Date
2001-03
Language
ENG
Citation

INDUSTRIAL AND CORPORATE CHANGE, v.10, no.1, pp.115 - 149

ISSN
0960-6491
URI
http://hdl.handle.net/10203/4400
Appears in Collection
MT-Journal Papers(저널논문)
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