Description:
Evolving industries are deemed essential for economic growth, but can also collapse when ill-judged decisions are made on the basis of incomplete information. This extension of the Schumpeterian approach introduces a stochastic model of industry life cycles.
Review Quotes:
"This book deals with the dynamics of industry growth, from both a micro and a macro perspective. It is structured in seven chapters. ... In summary, the text could be useful as a complementary reference for those interested in the growth of industry and innovation." (Manuel A. Gómez, Mathematical Reviews, June, 2015)