Please use this identifier to cite or link to this item: http://hdl.handle.net/10995/101787
Title: Replicator dynamics in value chains: Explaining some puzzles of market selection
Authors: Cantner, U.
Savin, I.
Vannuccini, S.
Issue Date: 2019
Publisher: Oxford University Press
Citation: Cantner U. Replicator dynamics in value chains: Explaining some puzzles of market selection / U. Cantner, I. Savin, S. Vannuccini. — DOI 10.1093/icc/dty060 // Industrial and Corporate Change. — 2019. — Vol. 28. — Iss. 3. — P. 589-611. — dty060.
Abstract: The pure model of replicator dynamics provides important insights in the evolution of markets but has not met with much empirical support. This article extends the model to the case of firms vertically integrated into value chains (VCs). Through an extended analytical model and numerical simulations, we show that (i) by taking VCs into account, the replicator dynamics may reverse its effect. In these "regressive developments" of market selection, firms with low fitness expand because of being integrated with highly fit partners, and the other way around; (ii) allowing a partner's switching reintroduces selection forces into the upper layers of VCs; and (iii) periods of instability in the early stage of the industry life cycle may be the result of an optimization' of partners within a value chain, thus providing a novel and simple explanation of the evidence discussed earlier in the literature. © 2019 The Author(s).
Keywords: ANALYTICAL FRAMEWORK
COMPUTER SIMULATION
INDUSTRIAL PERFORMANCE
MARKET SYSTEM
NUMERICAL MODEL
SUPPLY CHAIN MANAGEMENT
URI: http://hdl.handle.net/10995/101787
Access: info:eu-repo/semantics/openAccess
SCOPUS ID: 85063300476
PURE ID: 10290256
e13d6152-3cd4-4850-8313-2d8a9c1d5876
ISSN: 9606491
DOI: 10.1093/icc/dty060
Appears in Collections:Научные публикации, проиндексированные в SCOPUS и WoS CC

Files in This Item:
File Description SizeFormat 
2-s2.0-85063300476.pdf8,86 MBAdobe PDFView/Open


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.