Both at firm and national level, particularly in the most developed economies, the increasing importance of knowledge have meant that the net stock of intangible asset has grown more rapidly than the tangible asset. This has unfortunately not yet happened in the developing economies (Mortensen...

The simulation studies presented by Nelsen and Winter (1982) examine the modelling of industry dynamics. These studies are a prominent and unique approach visualizing innovation and imitation processes. Assuming the standard model envisages firms acting individually, this paper treats the...