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1、InternationalJournalofIndustrialInternationalJournalofIndustrialOrganizationOrganizationELSEVIER14(1996)203-226Technologicalchangeandmarketstructure:AnevolutionaryapproachFernandoVega-Redondo*'*FacultaddeEcon6micasandlnstitutoValencianodelnvestigacionesEcon6mica
2、s,UniversidaddeAlicante,03071Alicante,SpainReceived27April1993;accepted6October1994AbstractThispaperstudiesaninter-temporalmarketcontextinwhichfirmsinnovate,imitate,andcompeteinquantitiesandtechnologicalchoiceseachperiod.Potentialentrantsenterifthereareprofitabl
3、eopportunities;incumbentfirmsexitwhentheygobankrupt.Thekeyaspectofthemodelisthattechnologicalchangeevolvesalongadirectedgraph.Thisgraphreflectsboththedirectionoftechnologicalchangeandthemagnitudeofcostsinvolvedinswitchingtechnologies.Inthisset-up,mymainconcernis
4、toexploretheimplicationsofdifferenttechnologicalstructuresonentry/exitdynamicsandontheevolutionofmarketcharacteristics(marketcon-centration,profitabilityvariance,etc.).Keywords:Technologicalchange;Evaluation;PathdependenceJELclassification:D43;Lll;033Timeisinven
5、tion,oritisnothingatall(Bergson,1911,p.361).1*Presentaddress:FacultaddeEcon6micas,UniversidaddeAlicante,03071Alicante,Spain.tThisworkwascompletedwhiletheauthorwasaResearchFellowattheInstituteforAdvancedStudiesattheHebrewUniversityofJerusalem.IthankJamesFriedmanf
6、orhelpfulconversations.IalsoacknowledgefinancialsupportfromtheCICYT(SpanishMinistryofEducation),projectnos.PB90-0294andPS90-0156.QuotedinPrigogineandStengers(1987,p.92).0167-7187/96/$15.00(~)1996ElsevierScienceB.V.AllrightsreservedSSDI0167-7187(94)00467-6204F.Ve
7、ga-Redondo/Int.J.Ind.Organ.14(1996)203-226I.IntroductionFollowingSchumpter,theeffectofanindustry'smarketstructureonitsrateoftechnologicalchangehaslongbeenacentralconcernoftheTheoryofIndustrialOrganization.Inthispaperwefocusonareciprocalissuewhich,someimportantex
8、ceptionsnotwithstanding,2hasattractedmuchlessattentioninrecentliterature.Namely,theroleplayedbytechnologicalchangeinshapingsomeoftheindustry's'structural'characterist
