Modeling Industrial Dynamics with Innovative Entrants (1998)
S. G. Winter, Y. M. Kaniovski, G. Dosi, Gordon J. Macdonald
The paper analyzes some generic features of industrial dynamics whereby innovative change is carried, stochastically, by new entrants. Relying on the formal representation suggested in Winter et al....
Y. M. Kaniovski, Giovanni Dosi
Birth and death processes with a finite number of states are used in modeling di#erent kinds of noisy learning processes in economics. To analyze the long run properties one looks at the...
A Baseline Model of Industry Evolution (1997)
S. G. Winter, Y. M. Kaniovski, G. Dosi, Gordon J. Macdonald
This paper analyses the properties and outcomes of competitive dynamics in industries characterized by heterogeneous firms and continuing stochastic entry. In that setting aggregate economic...
A Baseline Model of Industry Evolution.
S.G. Winter, Y.M. Kaniovski, G. Dosi
The paper analyses the properties and outcomes of competitive dynamics in industries characterized by heterogeneous firms and continuing stochastic entry. A formal analytical apparatus is developed,...
Learning Equilibria in Games Played by Heterogeneous Populations.
Y.M. Kaniovski, A.V. Kryazhimskii, H.P. Young
Consider two populations of agents who learn to play a game through. repetition. In fictitious play, each agent chooses a best replay to the frequency distribution of actions taken by the other side....
Modeling Industrial Dynamics with Innovative Entrants.
S.G. Winter, Y.M. Kaniovski, G. Dosi
The paper analyzes some generic features of industrial dynamics whereby innovative change is carried, stochastically, by new entrants. Relying on the formal representation suggested in Winter et al....
Interdependent Search and Industry Dynamics: on Ericson and Pakes (1995).
This argues about a central analytical inconsistency of Ericson and Pakes (1995). Notwithstanding the explicit claims of the article, the formal hypotheses employed there imply that the firm's...
On Misapplications of Diffusion Approximations in Birth and Death Processes of Noisy Evolution.
Birth and death processes with a finite number of states are used in modeling different kinds of noisy learning processes in economics. To analyze the long run properties one looks a the...