The idea that market selection promotes survival and expansion of the “fittest” producersis a key principle underlying theories of competition. Yet, despite its intuitive appeal, thehypothesis that companies with superior productivity also exhibit higher growth lacks em-pirical support. One...

This study focuses on a well-known but yet elusive concept: (technological) lock-in. We summarize what is known about the nature of lock-in and offer a critical view on history- dependent processes based on recent contributions to the literature. We discuss if lock-ins are really inescapable,...

A growing number of studies identify a generalized slowdown in labor productivity growth. The very existence of the slowdown ignited a series of academic debates suggesting that secular stagnation or "mismeasurement" problems are at the root of the observed trends. We posit that the composition...

The pure model of replicator dynamics though providing important insights in the evolution of markets has not found much of empirical support. This paper extends the model to the case of firms vertically integrated in value chains. We show that i) by taking value chains into account, the...

The economic literature started to recognize the heterogeneity characterizing the nature of different technologies, introducing the concept of General Purpose Technologies. In this paper, we offer a "new view of General Purpose Technologies", building on the historical as well as on the recent...