Innovation, Welfare and Industrial Structure: An Evolutionary Analysis

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Extends the work of Nelson and Winter (1982) by rejecting an equilibrium approach to the problem of highly concentrated industry structures, and analyzes the long term properties of industry dynamics and their welfare implications under conditions of Schumpeterian competition, technological uncertainty, and bounded rationality. Uses the results of computer simulation and modeling to guide, design, and test a number of welfare enhancing policy instruments. Distributed by Ashgate. No index. Annotation c. by Book News, Inc., Portland, Or.