We conducted an experiment to describe how social learners use information about the relation between payoffs and behavior. Players chose between two technologies repeatedly. Payoffs were random, but one technology was better because its expected payoff was higher. Players were divided into two...

This paper relates firm-level processes and size distributions of firms at the industry level. An analytically tractable model explores how firm growth, exit, and spinoff activity in combination with systematically appearing growth crises in organizational development translate into specific...

In infant industries, a great share of new market opportunities is depleted by firms that spinoff from incumbents. A model emphasizing the relation between incumbents' evolving corporate cultures and the generation of spinoffs explains this regularity in industry evolution. Organizations reach a...