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An Evolutionary Agent-based simulation model for the industry life cycle

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  • Lehmann-Waffenschmidt, B. Cornelia

Abstract

In contrast to the usual approach taken in the literature, in which an Industry Life Cycle (ILC) is reproduced by aggregate functions, the model of this paper generates a self-organizing ILC. A general evolutionary agent-based simulation model is developed that can be adapted for specific branches of industry. The results enable conclusions to be drawn for competition policy with regard to the workability of competition in the various phases of the ILC.

Suggested Citation

  • Lehmann-Waffenschmidt, B. Cornelia, 2008. "An Evolutionary Agent-based simulation model for the industry life cycle," Dresden Discussion Paper Series in Economics 10/08, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    • Handle: RePEc:zbw:tuddps:1008
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    References listed on IDEAS

    as
    1. Horst Hanusch & Andreas Pyka (ed.), 2007. "Elgar Companion to Neo-Schumpeterian Economics," Books, Edward Elgar Publishing, number 2973.
    2. Steven Klepper & Elizabeth Graddy, 1990. "The Evolution of New Industries and the Determinants of Market Structure," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 27-44, Spring.
    3. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74(2), pages 132-132.
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    More about this item

    Keywords

    Industry Life Cycle; Agent-Based Simulation Model; Evolutionary Economics;
    All these keywords.

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

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