FULL TITLE: Dynamics of Competitive Industries: A Micro Behavioural Framework SHORT TITLE: Dynamics of Competitive Industries

摘要

Most published work in business dynamics is conducted either at the level of the individual firm or at the level of an industry comprising an aggregate of similar firms. However, there are situations where the performance of industries is better understood by modelling the behaviour of competing individual firms. When firms in the same industry adopt quite different views of the "best set" of resources and the overall system of resources in the industry is tightly interconnected, it is important to model the heterogeneity of rival firms. We propose a micro-behavioural approach that captures the essential interactions between firms. To illustrate our approach we run a series of experiments using Fish Banks, Ltd. to show the wide range of firm and industry performance arising from such heterogeneity. We further develop our micro-behavioural approach into a framework for understanding the dynamics and evolution of industries based on selected ideas from system dynamics, the resource-based view of the firm and managerial cognition.