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Learning, diffusion and the industry...

Wang, Zhu.

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Learning, diffusion and the industry life cycle.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Learning, diffusion and the industry life cycle./
Author:	Wang, Zhu.
Description:	63 p.
Notes:	Source: Dissertation Abstracts International, Volume: 65-03, Section: A, page: 1047.
Contained By:	Dissertation Abstracts International65-03A.
Subject:	Economics, General. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3125649
ISBN:	0496729380

Learning, diffusion and the industry life cycle.
Wang, Zhu.

Learning, diffusion and the industry life cycle. - 63 p.

Source: Dissertation Abstracts International, Volume: 65-03, Section: A, page: 1047.

Thesis (Ph.D.)--The University of Chicago, 2004.

Firm numbers and industry GDP initially rise and later fall as an industry evolves. This nonmonotomcity is explained as a competitive equilibrium outcome driven by the dynamic interaction between technology progress and demand diffusion. When a new product is introduced, high-income consumers tend to adopt it first. The price then falls with cumulative output and demand grows as the product penetrates into lower-income groups. Eventually fewer new adopters are available and the number of firms starts to decline as market demand turns inelastic. It is shown that faster technology progress, higher mean income or larger market size contributes to faster demand diffusion and earlier industry shakeout. Empirical studies on US and UK television industry as well as a dozen other US industries show that the model well explains the patterns of industrial evolution across countries and products.

ISBN: 0496729380Subjects--Topical Terms:

1017424
Economics, General.

Learning, diffusion and the industry life cycle.
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245 1 0 $a Learning, diffusion and the industry life cycle.
300 $a 63 p.
500 $a Source: Dissertation Abstracts International, Volume: 65-03, Section: A, page: 1047.
500 $a Adviser: Boyan Jovanovic.
502 $a Thesis (Ph.D.)--The University of Chicago, 2004.
520 $a Firm numbers and industry GDP initially rise and later fall as an industry evolves. This nonmonotomcity is explained as a competitive equilibrium outcome driven by the dynamic interaction between technology progress and demand diffusion. When a new product is introduced, high-income consumers tend to adopt it first. The price then falls with cumulative output and demand grows as the product penetrates into lower-income groups. Eventually fewer new adopters are available and the number of firms starts to decline as market demand turns inelastic. It is shown that faster technology progress, higher mean income or larger market size contributes to faster demand diffusion and earlier industry shakeout. Empirical studies on US and UK television industry as well as a dozen other US industries show that the model well explains the patterns of industrial evolution across countries and products.
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710 2 0 $a The University of Chicago. $3 1017389
773 0 $t Dissertation Abstracts International $g 65-03A.
790 1 0 $a Jovanovic, Boyan, $e advisor
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791 $a Ph.D.
792 $a 2004
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