A dynamic microeconomic model is presented that establishes the price and unit sales evolution of heterogeneous goods consisting of successive homogenous product generations. It suggests that for a fast growing supply the mean price of the generations are governed by a logistic decline towards a...

A dynamic microeconomic model is presented that establishes the price and unit sales evolution of heterogeneous goods consisting of successive homogenous product generations. It suggests that for a fast growing supply the mean price of the generations are governed by a logistic decline towards a...

In this study we examine the evolution of price, volume, and the bid–ask spread after extreme 15min intraday price changes on the NYSE and the NASDAQ. We find that due to strong behavioral trading there is an overreaction. Furthermore, we find that volatility which increases sharply at the...

The evolution of technology has been a central issue in the strategy and organizations literature. However, the focus of much of this work has been on what is essentially the "supply side" of technical change---the evolution of firm capabilities. We present a demand-based view of technology...