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Journal of Evolutionary Economics

, Volume 6, Issue 4, pp 411–423 | Cite as

Schumpeterian competition in heterogeneous oligopolies

  • Bernd Meyer
  • Carolin Vogt
  • Rainer Voßkamp
Article

Abstract

The modeling of Schumpeterian competition as a process of innovation, imitation and selection was first presented by Nelson/Winter (1982) in a simulation study and further analyzed in a similar but general analytical formulation by Iwai (1984a, 1984b). Their results concerning the relations between the combination of the different forces of Schumpeterian competition and market structure respectively the distributions of profits are interesting, but restricted to competitive markets. Comparing rules of thumb and satisficing for the R&D decisions the present study analyzes the process of Schumpeterian competition in a heterogeneous oligopoly. Firstly, the authors find for the R&D-concentration relation results contrary to the traditional interpretation of Schumpeter. Secondly, Iwai's (1984a, 1984b) qualitative results hold in this less restrictive modeling.

JEL-Classification

L13 O31 

Key words

Evolutionary economics Schumpeterian competition Innovation Oligopoly 

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References

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Copyright information

© Springer-Verlag 1996

Authors and Affiliations

  • Bernd Meyer
    • 1
  • Carolin Vogt
    • 1
  • Rainer Voßkamp
    • 1
  1. 1.Fachbereich WirtschaftswissenschaftenUniversität OsnabrückOsnabrückGermany

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