Эксоцман
на главную поиск contacts

Selection and the Evolution of Industry

Опубликовано на портале: 17-07-2007
Econometrica. 1982.  Vol. 50. No. 3. P. 649-670. 
Recent evidence shows that within an industry, smaller firms grow faster and are more likely to fail than large firms. This paper provides a theory of selection with incomplete information that is consistent with these and other findings. Firms learn about their efficiency as they operate in the industry. The efficient grow and survive; the inefficient decline and fail. A perfect foresight equilibrium is proved by means of showing that it is a unique maximum to discounted net surplus. The maximization problem is not standard, and some mathematical results might be of independent interest.

Ссылки
текст статьи на сайте JSTOR:
http://www.jstor.org/view/00129682/di952659/95p0162y/0
BiBTeX
RIS
Ключевые слова

См. также:
Ariel Pakes, Richard E. Ericson
Review of Economic Studies. 1995.  Vol. 62. No. 1. P. 53-82. 
[Статья]
Michael J. Barclay, Clifford G. Holderness
Journal of Financial Economics. 1989.  Vol. 25. No. 2. P. 371-395. 
[Статья]
Steven Klepper
RAND Journal of Economics. 2002.  Vol. 33. No. 1. P. 37-61. 
[Статья]
Aviv Nevo
[Учебная программа]
Wesley Marc Cohen, Steven Klepper
Economic Journal. 1996.  Vol. 106. No. 437. P. 925-951. 
[Статья]
Nai-Fu Chen
Journal of Finance. 1983.  Vol. 38. No. 5. P. 1393-1414. 
[Статья]
Wesley Marc Cohen, Steven Klepper
Review of Economics and Statistics. 1996.  Vol. 78. No. 2. P. 232-43. 
[Статья]