Industry dynamics: Foundations for models with an infinite number of firms
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Doraszelski, Ulrich & Pakes, Ariel, 2007.
"A Framework for Applied Dynamic Analysis in IO,"
Handbook of Industrial Organization, in: Mark Armstrong & Robert Porter (ed.), Handbook of Industrial Organization, edition 1, volume 3, chapter 30, pages 1887-1966,
Elsevier.
- Ariel Pakes, 2000. "A Framework for Applied Dynamic Analysis in I.O," NBER Working Papers 8024, National Bureau of Economic Research, Inc.
- Jones, Larry E., 1987. "The efficiency of monopolistically competitive equilibria in large economies: Commodity differentiation with gross substitutes," Journal of Economic Theory, Elsevier, vol. 41(2), pages 356-391, April.
- Marc J. Melitz, 2003.
"The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity,"
Econometrica, Econometric Society, vol. 71(6), pages 1695-1725, November.
- Mark J. Melitz, 2002. "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity," NBER Working Papers 8881, National Bureau of Economic Research, Inc.
- Melitz, Marc J, 2002. "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity," CEPR Discussion Papers 3381, C.E.P.R. Discussion Papers.
- Boyan Jovanovic, 1987.
"Micro Shocks and Aggregate Risk,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 102(2), pages 395-409.
- Jovanovic, Boyan, 1986. "Micro Shocks and Aggregate Risks," Working Papers 86-14, C.V. Starr Center for Applied Economics, New York University.
- Caplin, Andrew & Nalebuff, Barry, 1991.
"Aggregation and Imperfect Competition: On the Existence of Equilibrium,"
Econometrica, Econometric Society, vol. 59(1), pages 25-59, January.
- Andrew Caplin & Barry Nalebuff, 1990. "Aggregation and Imperfect Competition: On the Existence of Equilibrium," Cowles Foundation Discussion Papers 937, Cowles Foundation for Research in Economics, Yale University.
- Gabriel Y. Weintraub & C. Lanier Benkard & Benjamin Van Roy, 2008. "Markov Perfect Industry Dynamics With Many Firms," Econometrica, Econometric Society, vol. 76(6), pages 1375-1411, November.
- Ulrich Doraszelski & Mark Satterthwaite, 2010. "Computable Markov‐perfect industry dynamics," RAND Journal of Economics, RAND Corporation, vol. 41(2), pages 215-243, June.
- Novshek, William, 1985.
"Perfectly competitive markets as the limits of cournot markets,"
Journal of Economic Theory, Elsevier, vol. 35(1), pages 72-82, February.
- Novshek, William., 1983. "Perfectly Competitive Markets as the Limits of Cournot Markets," Working Papers 499, California Institute of Technology, Division of the Humanities and Social Sciences.
- Beth Allen & Martin Hellwig, 1986. "Bertrand-Edgeworth Oligopoly in Large Markets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 53(2), pages 175-204.
- Erzo G. J. Luttmer, 2007. "Selection, Growth, and the Size Distribution of Firms," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 122(3), pages 1103-1144.
- Dixit, Avinash K & Stiglitz, Joseph E, 1977.
"Monopolistic Competition and Optimum Product Diversity,"
American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
- Dixit, Avinash K. & Stiglitz, Joseph E., 1975. "Monopolistic Competition And Optimum Product Diversity," Economic Research Papers 268957, University of Warwick - Department of Economics.
- Dixit, Avinash K & Stiglitz, Joseph E, 1975. "Monopolistic Competition and Optimum Product Diversity," The Warwick Economics Research Paper Series (TWERPS) 64, University of Warwick, Department of Economics.
- Yi Daniel Xu, 2008. "A Structural Empirical Model of R&D, Firm Heterogeneity , and Industry Evolution," 2008 Meeting Papers 744, Society for Economic Dynamics.
- Roberts, Donald John & Postlewaite, Andrew, 1976. "The Incentives for Price-Taking Behavior in Large Exchange Economies," Econometrica, Econometric Society, vol. 44(1), pages 115-127, January.
- Xavier Gabaix, 2011.
"The Granular Origins of Aggregate Fluctuations,"
Econometrica, Econometric Society, vol. 79(3), pages 733-772, May.
- Xavier Gabaix, 2005. "The Granular Origins of Aggregate Fluctuations," 2005 Meeting Papers 470, Society for Economic Dynamics.
- Xavier Gabaix, 2009. "The Granular Origins of Aggregate Fluctuations," NBER Working Papers 15286, National Bureau of Economic Research, Inc.
- Tor Jakob Klette & Samuel Kortum, 2004.
"Innovating Firms and Aggregate Innovation,"
Journal of Political Economy, University of Chicago Press, vol. 112(5), pages 986-1018, October.
- Tor Jakob Klette & Samuel Kortum, 2002. "Innovating Firms and Aggregate Innovation," NBER Working Papers 8819, National Bureau of Economic Research, Inc.
- Klette, Tor Jakob & Kortum, Samuel S, 2002. "Innovating Firms and Aggregate Innovation," CEPR Discussion Papers 3248, C.E.P.R. Discussion Papers.
- Jakob Klette & Samuel Kortum, 2002. "Innovating firms and aggregate innovation," Staff Report 300, Federal Reserve Bank of Minneapolis.
- Klette, Tor Jakob & Kortum, Samuel, 2002. "Innovating Firms and Aggregate Innovation," Memorandum 02/2002, Oslo University, Department of Economics.
- Richard Ericson & Ariel Pakes, 1995. "Markov-Perfect Industry Dynamics: A Framework for Empirical Work," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 62(1), pages 53-82.
- Hopenhayn, Hugo & Rogerson, Richard, 1993. "Job Turnover and Policy Evaluation: A General Equilibrium Analysis," Journal of Political Economy, University of Chicago Press, vol. 101(5), pages 915-938, October.
- Hopenhayn, Hugo A, 1992. "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica, Econometric Society, vol. 60(5), pages 1127-1150, September.
- Mas-Colell, Andreu, 1983. "Walrasian equilibria as limits of noncooperative equilibria. Part I: Mixed strategies," Journal of Economic Theory, Elsevier, vol. 30(1), pages 153-170, June.
- Novshek, William & Sonnenschein, Hugo, 1978. "Cournot and Walras equilibrium," Journal of Economic Theory, Elsevier, vol. 19(2), pages 223-266, December.
- Allen, Beth & Hellwig, Martin, 1986. "Price-Setting Firms and the Oligopolistic Foundations of Perfect Competition," American Economic Review, American Economic Association, vol. 76(2), pages 387-392, May.
- Besanko, David & Perry, Martin K & Spady, Richard H, 1990. "The Logit Model of Monopolistic Competition: Brand Diversity," Journal of Industrial Economics, Wiley Blackwell, vol. 38(4), pages 397-415, June.
- Matthew F. Mitchell, 2000. "The Scope and Organization of Production: Firm Dynamics Over the Learning Curve," RAND Journal of Economics, The RAND Corporation, vol. 31(1), pages 180-205, Spring.
- Novshek, William & Sonnenschein, Hugo, 1983. "Walrasian equilibria as limits of noncooperative equilibria. Part II: Pure strategies," Journal of Economic Theory, Elsevier, vol. 30(1), pages 171-187, June.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Régis Chenavaz & Corina Paraschiv & Gabriel Turinici, 2017. "Dynamic Pricing of New Products in Competitive Markets: A Mean-Field Game Approach," Working Papers hal-01592958, HAL.
- Adlakha, Sachin & Johari, Ramesh & Weintraub, Gabriel Y., 2015. "Equilibria of dynamic games with many players: Existence, approximation, and market structure," Journal of Economic Theory, Elsevier, vol. 156(C), pages 269-316.
- Haoyang Cao & Jodi Dianetti & Giorgio Ferrari, 2021. "Stationary Discounted and Ergodic Mean Field Games of Singular Control," Papers 2105.07213, arXiv.org.
- Régis Chenavaz & Corina Paraschiv & Gabriel Turinici, 2021.
"Dynamic Pricing of New Products in Competitive Markets: A Mean-Field Game Approach,"
Dynamic Games and Applications, Springer, vol. 11(3), pages 463-490, September.
- Régis Chenavaz & Corina Paraschiv & Gabriel Turinici, 2020. "Dynamic Pricing of New Products in Competitive Markets: A Mean-Field Game Approach," Post-Print hal-01592958, HAL.
- Kikuchi, Tomoo & Nishimura, Kazuo & Stachurski, John, 2018. "Span of control, transaction costs and the structure of production chains," Theoretical Economics, Econometric Society, vol. 13(2), May.
- Krishnamurthy Iyer & Ramesh Johari & Mukund Sundararajan, 2014. "Mean Field Equilibria of Dynamic Auctions with Learning," Management Science, INFORMS, vol. 60(12), pages 2949-2970, December.
- Cao, Haoyang & Dianetti, Jodi & Ferrari, Giorgio, 2021. "Stationary Discounted and Ergodic Mean Field Games of Singular Control," Center for Mathematical Economics Working Papers 650, Center for Mathematical Economics, Bielefeld University.
- Sachin Adlakha & Ramesh Johari, 2013. "Mean Field Equilibrium in Dynamic Games with Strategic Complementarities," Operations Research, INFORMS, vol. 61(4), pages 971-989, August.
- Piotr Więcek & Eitan Altman, 2015. "Stationary Anonymous Sequential Games with Undiscounted Rewards," Journal of Optimization Theory and Applications, Springer, vol. 166(2), pages 686-710, August.
- Jian Yang, 2017. "A link between sequential semi-anonymous nonatomic games and their large finite counterparts," International Journal of Game Theory, Springer;Game Theory Society, vol. 46(2), pages 383-433, May.
- Jian Yang, 2021. "Analysis of Markovian Competitive Situations Using Nonatomic Games," Dynamic Games and Applications, Springer, vol. 11(1), pages 184-216, March.
- Jian Yang, 2015. "A Link between Sequential Semi-anonymous Nonatomic Games and their Large Finite Counterparts," Papers 1510.06809, arXiv.org, revised Jun 2016.
- Jian Yang, 2015. "Analysis of Markovian Competitive Situations using Nonatomic Games," Papers 1510.06813, arXiv.org, revised Apr 2017.
- Ren'e Aid & Matteo Basei & Giorgio Ferrari, 2023. "A Stationary Mean-Field Equilibrium Model of Irreversible Investment in a Two-Regime Economy," Papers 2305.00541, arXiv.org.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Weintraub, Gabriel Y. & Benkard, C. Lanier & Van Roy, Benjamin, 2007. "Markov Perfect Industry Dynamics with Many Firms," Research Papers 1919r, Stanford University, Graduate School of Business.
- Adlakha, Sachin & Johari, Ramesh & Weintraub, Gabriel Y., 2015. "Equilibria of dynamic games with many players: Existence, approximation, and market structure," Journal of Economic Theory, Elsevier, vol. 156(C), pages 269-316.
- Gabriel Y. Weintraub & C. Lanier Benkard & Benjamin Van Roy, 2010. "Computational Methods for Oblivious Equilibrium," Operations Research, INFORMS, vol. 58(4-part-2), pages 1247-1265, August.
- Erzo G.J. Luttmer, 2010.
"Models of Growth and Firm Heterogeneity,"
Annual Review of Economics, Annual Reviews, vol. 2(1), pages 547-576, September.
- Erzo G. J. Luttmer, 2010. "Models of Growth and Firm Heterogeneity," Working Papers 2010-1, University of Minnesota, Department of Economics.
- Vivek Farias & Bar Ifrach & Gabriel Weintraub, 2012. "A Framework for Dynamic Oligopoly in Concentrated Industries," 2012 Meeting Papers 505, Society for Economic Dynamics.
- C. Lanier Benkard & Benjamin Van Roy & Gabriel Y. Weintraub, 2005. "Markov perfect industry dynamics with many firms," Working Paper Series 2005-23, Federal Reserve Bank of San Francisco.
- Gabriel Weintraub & C. Lanier Benkard & Ben Van Roy, 2005. "Markov Perfect Industry Dynamics with Many Firms," NBER Working Papers 11900, National Bureau of Economic Research, Inc.
- Gualdi, Stanislao & Mandel, Antoine, 2016.
"On the emergence of scale-free production networks,"
Journal of Economic Dynamics and Control, Elsevier, vol. 73(C), pages 61-77.
- Stanislao Gualdi & Antoine Mandel, 2015. "On the emergence of scale-free production networks," Post-Print halshs-01179134, HAL.
- Stanislao Gualdi & Antoine Mandel, 2016. "On the emergence of scale-free production networks," Post-Print halshs-01387547, HAL.
- Stanislao Gualdi & Antoine Mandel, 2015. "On the emergence of scale-free production networks," Papers 1509.01483, arXiv.org, revised Sep 2016.
- Stanislao Gualdi & Antoine Mandel, 2015. "On the emergence of scale-free production networks," Documents de travail du Centre d'Economie de la Sorbonne 15060, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Stanislao Gualdi & Antoine Mandel, 2015. "On the emergence of scale-free production networks," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01179134, HAL.
- Stanislao Gualdi & Antoine Mandel, 2016. "On the emergence of scale-free production networks," PSE-Ecole d'économie de Paris (Postprint) halshs-01387547, HAL.
- Stanislao Gualdi & Antoine Mandel, 2016. "On the emergence of scale-free production networks," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01387547, HAL.
- A. Kerem Co?ar & Nezih Guner & James Tybout, 2016.
"Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy,"
American Economic Review, American Economic Association, vol. 106(3), pages 625-663, March.
- Nezih Guner & James Tybout & A. Kerem Cosar, 2009. "Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy," 2009 Meeting Papers 811, Society for Economic Dynamics.
- Cosar, A. Kerem & Guner, Nezih & Tybout, James, 2013. "Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy," IZA Discussion Papers 7718, Institute of Labor Economics (IZA).
- Tybout, James & Guner, Nezih & Cosar, Kerem, 2013. "Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy," CEPR Discussion Papers 9732, C.E.P.R. Discussion Papers.
- A. Kerem Coşar & Nezih Guner & James Tybout, 2011. "Firm dynamics, job turnover, and wage distributions in an open economy," Working Papers 2011-06, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
- A. Kerem Co?ar & Nezih Guner & James Tybout, 2013. "Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy," Working Papers 732, Barcelona School of Economics.
- A. Kerem Coşar & Nezih Guner & James Tybout, 2010. "Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy," NBER Working Papers 16326, National Bureau of Economic Research, Inc.
- Roman Fossati, 2011.
"Outsourcing versus Vertical Integration: A Dynamic Model of Industry Equilibrium,"
2011 Meeting Papers
1421, Society for Economic Dynamics.
- Roman Fossati, 2012. "Outsourcing versus Vertical Integration: A Dynamic Model of Industry Equilibrium," Bristol Economics Discussion Papers 12/627, School of Economics, University of Bristol, UK.
- Román Fossati, 2012. "Outsourcing versus vertical integration: A dynamic model of industry equilibrium," Working Papers 2012-07, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
- Costas Arkolakis, 2016.
"A Unified Theory of Firm Selection and Growth,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 131(1), pages 89-155.
- Costas Arkolakis, 2009. "A Unified Theory of Firm Selection and Growth," CESifo Working Paper Series 2679, CESifo.
- Costas Arkolakis, 2011. "A Unified Theory of Firm Selection and Growth," NBER Working Papers 17553, National Bureau of Economic Research, Inc.
- Light, Bar & Weintraub, Gabriel, 2018.
"Mean Field Equilibrium: Uniqueness, Existence, and Comparative Statics,"
Research Papers
3731, Stanford University, Graduate School of Business.
- Bar Light & Gabriel Weintraub, 2019. "Mean Field Equilibrium: Uniqueness, Existence, and Comparative Statics," Papers 1903.02273, arXiv.org, revised Jun 2020.
- Acemoglu, Daron & Cao, Dan, 2015.
"Innovation by entrants and incumbents,"
Journal of Economic Theory, Elsevier, vol. 157(C), pages 255-294.
- Dan Cao and Daron Acemoglu, 2010. "Innovation by Entrants and Incumbents," Working Papers gueconwpa~10-10-06, Georgetown University, Department of Economics.
- Dan Cao & Daron Acemoglu, 2011. "Innovation by Entrants and Incumbents," 2011 Meeting Papers 473, Society for Economic Dynamics.
- Daron Acemoglu & Dan Vu Cao, 2010. "Innovation by Entrants and Incumbents," Levine's Working Paper Archive 661465000000000227, David K. Levine.
- Daron Acemoglu & Dan Vu Cao, 2010. "Innovation by Entrants and Incumbents," NBER Working Papers 16411, National Bureau of Economic Research, Inc.
- Andrew B. Bernard & Stephen J. Redding & Peter K. Schott, 2011.
"Multiproduct Firms and Trade Liberalization,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 126(3), pages 1271-1318.
- Andrew B. Bernard & Stephen Redding & Peter K. Schott, 2006. "Multi-Product Firms and Trade Liberalization," CEP Discussion Papers dp0769, Centre for Economic Performance, LSE.
- Andrew Bernard & Stephen Redding & Peter Schott, 2009. "Multi-Product Firms and Trade Liberalization," Working Papers 09-21, Center for Economic Studies, U.S. Census Bureau.
- Bernard, Andrew B. & Redding, Stephen & Schott, Peter K., 2006. "Multi-product firms and trade liberalization," LSE Research Online Documents on Economics 3684, London School of Economics and Political Science, LSE Library.
- Stephen J Redding & Peter K Schott & Andrew B Bernard, 2007. "Multi-product Firms and Trade Liberalization," 2007 Meeting Papers 44, Society for Economic Dynamics.
- Andrew B. Bernard & Stephen J. Redding & Peter K. Schott, 2006. "Multi-Product Firms and Trade Liberalization," NBER Working Papers 12782, National Bureau of Economic Research, Inc.
- Yoshifumi Konishi & Nori Tarui, 2015.
"Emissions Trading, Firm Heterogeneity, and Intra-industry Reallocations in the Long Run,"
Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 2(1), pages 1-42.
- Konishi, Yoshifumi & Tarui, Nori, 2014. "Emissions Trading, Firm Heterogeneity, and Intra-Industry Reallocations in the Long Run," CEI Working Paper Series 2014-1, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
- GABLER, Alain & POSCHKE, Markus, 2011.
"Growth through Experimentation,"
Cahiers de recherche
11-2011, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Markus Poschke & Alain Gabler, 2011. "Growth through Experimentation," 2011 Meeting Papers 643, Society for Economic Dynamics.
- Cristiana Benedetti Fasil, 2009. "Product and Process Innovation in a Growth Model of Firm Selection," Economics Working Papers ECO2009/30, European University Institute.
- Vincent Sterk & Petr Sedláček & Benjamin Pugsley, 2021.
"The Nature of Firm Growth,"
American Economic Review, American Economic Association, vol. 111(2), pages 547-579, February.
- Benjamin W. Pugsley & Petr Sedlacek & Vincent Sterk, 2017. "The Nature of Firm Growth," Discussion Papers 1737, Centre for Macroeconomics (CFM).
- Petr Sedlacek & Benjamin Pugsley & Vincent Sterk, 2017. "The Nature of Firm Growth," 2017 Meeting Papers 196, Society for Economic Dynamics.
- Sterk, Vincent & SedlÃ¡Ä ek, Petr & Pugsley, Benjamin, 2018. "The Nature of Firm Growth," CEPR Discussion Papers 12670, C.E.P.R. Discussion Papers.
- Benjamin W. Pugsley & Peter Sedlacek & Vincent Sterk, 2018. "The Nature of Firm Growth," Working Papers 18-30, Center for Economic Studies, U.S. Census Bureau.
- Pugsley, Benjamin W. & Sedlacek, Petr & Sterk, Vincent, 2017. "The nature of firm growth," LSE Research Online Documents on Economics 87173, London School of Economics and Political Science, LSE Library.
- Şeker, Murat, 2012. "A structural model of firm and industry evolution: Evidence from Chile," Journal of Economic Dynamics and Control, Elsevier, vol. 36(6), pages 891-913.
- Satyajit Chatterjee & Esteban Rossi‐Hansberg, 2012.
"Spinoffs And The Market For Ideas,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(1), pages 53-93, February.
- Esteban Rossi-Hansberg & Satyajit Chatterjee, 2007. "Spin-offs and the Market for Ideas," 2007 Meeting Papers 86, Society for Economic Dynamics.
- Satyajit Chatterjee & Esteban Rossi-Hansberg, 2008. "Spinoffs and the market for ideas," Working Papers 08-26, Federal Reserve Bank of Philadelphia.
- Satyajit Chatterjee & Esteban Rossi-Hansberg, 2007. "Spin-offs and the Market for Ideas," NBER Working Papers 13198, National Bureau of Economic Research, Inc.
- Satyajit Chatterjee & Esteban Rossi-Hansberg, 2007. "Spin-offs and the market for ideas," Working Papers 07-15, Federal Reserve Bank of Philadelphia.
More about this item
Keywords
Industry dynamics Equilibrium Infinite models Approximation;Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jetheo:v:146:y:2011:i:5:p:1965-1994. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/622869 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.