Law of the jungle: firm survival and price dynamics in evolutionary markets

Markey-Towler, Brendan (2016) Law of the jungle: firm survival and price dynamics in evolutionary markets. Journal of Evolutionary Economics, 26 3: 655-696. doi:10.1007/s00191-016-0446-8


Author Markey-Towler, Brendan
Title Law of the jungle: firm survival and price dynamics in evolutionary markets
Journal name Journal of Evolutionary Economics   Check publisher's open access policy
ISSN 0936-9937
1432-1386
Publication date 2016-02-05
Year available 2016
Sub-type Article (original research)
DOI 10.1007/s00191-016-0446-8
Open Access Status Not Open Access
Volume 26
Issue 3
Start page 655
End page 696
Total pages 42
Place of publication Heidelberg, Germany
Publisher Springer
Collection year 2017
Language eng
Abstract In this paper I develop a simple, and general model of supply and demand within which almost any theory of consumer and producer behaviour may be integrated by varying parameters. I then investigate the dynamics of this model and its implications for the theory of market evolution, and show that it unifies a number of insights from evolutionary economics. I extend upon these evolutionary theories and also characterise the distribution of prices across the market and investigate its evolution over time.
Keyword Competitive selection
Differential survival and growth
Firm strategy
Innovation
Price theory
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: HERDC Pre-Audit
School of Economics Publications
 
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