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首页> 外文期刊>Journal of evolutionary economics >Innovation, competition and firm size distribution on fragmented markets
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Innovation, competition and firm size distribution on fragmented markets

机译：分散市场上的创新，竞争和公司规模分布

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This paper presents a simple model of firm and consumer behavior. We formulate a sub-market entry game, where boundedly rational firms decide on investing in R&D for inventing new products that will appeal to targeted groups of consumers. The success depends on the amount of resources available for the project as well as on the firm's familiarity with market characteristics. Successful innovation feeds back into the firm size and (potentially into) market knowledge and increases the future R&D productivity. A new product decreases the market-shares of incumbents. However, this business stealing effect is asymmetric across incumbent population. We identify the section of parameter space where firms have an incentive to diversify horizontally. In this section, the model results in rich industrial dynamics. Firm size heterogeneity emerges endogenously in the model. Equilibrium firm size distributions are heavy tailed and skewed to the right. The heaviness of the tail depends on submarket specificity of firm's market knowledge. This relationship is non-monotonic, emphasizing two different effects of innovation on industrial dynamics (positive feedback and asymmetric business stealing).
机译：本文提出了一个简单的企业和消费者行为模型。我们制定了一个子市场进入游戏，在此游戏中，理性的公司会有限地决定对研发进行投资，以发明能够吸引目标消费者群体的新产品。成功与否取决于项目可用的资源量以及公司对市场特征的熟悉程度。成功的创新将反馈到公司规模和（可能是）市场知识，并提高未来的研发生产率。新产品减少了现有企业的市场份额。但是，这种窃取业务的影响在现有人群中是不对称的。我们确定了参数空间中企业有动机进行水平多元化的部分。在本节中，该模型将产生丰富的工业动态。企业规模异质性在模型中内生。均衡的公司规模分布偏重且偏右。尾巴的沉重取决于公司市场知识的子市场特殊性。这种关系是非单调的，强调了创新对产业动态的两种不同影响（正反馈和不对称的企业窃取）。

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