Title

Evolutionary trends of industry variables

Keywords

Evolution; Product life-cycle; Time-trends

Abstract

The paper offers empirical evidence on the evolutionary trends of industry variables. It investigates the time path of patents, product price and quantity, and number of firms from the first introduction of a product to maturity of the market. The paper extends earlier work by Gort and Klepper by expanding the data on products through 1991, and augmenting it with new products and new data sources. The reexamination of the aging patterns reveal the Gort and Klepper results to be robust. The time trends follow the expected patterns with remarkable consistency and are strongly significant for most products. New evidence on patenting activity reveal an eventual decline in technological activity over the later years of the product market life-cycle. © 1998 Elsevier Science B.V.

Publication Date

7-1-1998

Publication Title

International Journal of Industrial Organization

Volume

16

Issue

4

Number of Pages

511-525

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.1016/s0167-7187(97)00004-0

Socpus ID

0032381629 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/0032381629

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