Innovation and Efficiency in Industry Evolution

Jati Sengupta
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Jati Sengupta: University of California

Chapter 2 in Dynamics of Entry and Market Evolution, 2007, pp 24-49 from Palgrave Macmillan

Abstract: Abstract In modern times the evolution of high-tech industries has been profoundly affected by innovations in different forms, for example new product designs, new software applications and new organizational forms. Schumpeter stressed two key elements as sources of evolutionary growth: new innovations in technology through the process of creative destruction and the access efficiency which involves racing up the escalation ladder in the stronghold arena. By building barriers under a stronghold, the firms reap monopoly profits as a first mover, and these profits can be used to fund aggressive price strategies and R&D investments.

Keywords: Total Factor Productivity; Average Cost; Market Evolution; Industry Evolution; Limit Price (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-21101-8_2

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DOI: 10.1057/9780230211018_2

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