Information and Industry Dynamics
构建了一个产业动态模型，企业通过传播信息来争夺客户，同时面临效率随机冲击。模型稳态均衡的性质与企业和产业动态的经验规律相关，并用于分析信息传播成本下降的影响。
This paper develops a model of industry dynamics where firms compete to acquire customers over time by disseminating information about themselves in the presence of random shocks to their efficiency. The properties of the model's stationary equilibrium are related to empirical regularities on firm and industry dynamics. As an application of the model, the effects of a decline in the cost of information dissemination on firm and industry dynamics are explored.