Industry dynamics: Foundations for models with an infinite number of firms

This paper explores the connection between three important threads of economic research offering different approaches to studying the dynamics of an industry with heterogeneous firms. Finite models of the form pioneered by Ericson and Pakes (1995) capture the dynamics of a finite number of heterogen...

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Veröffentlicht in:	Journal of economic theory 2011-09, Vol.146 (5), p.1965-1994
Hauptverfasser:	Weintraub, Gabriel Y., Benkard, C. Lanier, Van Roy, Benjamin
Format:	Artikel
Sprache:	eng
Schlagworte:	Approximation Asymptotic properties Correlation analysis Dynamic tests Dynamics Economic models Economic theory Economics Equilibrium Equilibrium models Game theory Imperfect competition Industrial economics Industrial organization Industry dynamics Industry dynamics Equilibrium Infinite models Approximation Infinite models Joints Markets Markov analysis Markovian processes Mathematical analysis Price competition Price theory Studies
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