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Learning from Own and Foreign Experience: Technological Adaptation by Imitating Firms

Author

Listed:
  • B. Bullnheimer

    (University of Vienna)

  • H. Dawid

    (University of Vienna)

  • R. Zeller

    (University of Vienna)

Abstract

In this paper we study the adaptive behavior of firms which repeatedly have to make a production decision. In a single good market the firms use own experience as well as information gathered by observing competitors to iteratively choose a production technology out of a given set. The adaptive learning of the firms is described in a dynamic model and analyzed in a simulation framework. We show that a small but positive propensity to imitate is optimal for the firms and yields production efficiencies above 95% of the maximal value. Furthermore, we observe that in a competitive situation firms using optimal propensities to imitate outmatch pure imitators and nonimitators in production efficiency as well as in profits.

Suggested Citation

  • B. Bullnheimer & H. Dawid & R. Zeller, 1998. "Learning from Own and Foreign Experience: Technological Adaptation by Imitating Firms," Computational and Mathematical Organization Theory, Springer, vol. 4(3), pages 267-282, October.
    • Handle: RePEc:spr:comaot:v:4:y:1998:i:3:d:10.1023_a:1009680612160
    DOI: 10.1023/A:1009680612160
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    References listed on IDEAS

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    3. Marengo, L, 1992. "Coordination and Organizational Learning in the Firm," Journal of Evolutionary Economics, Springer, vol. 2(4), pages 313-326, December.
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