Several empirical regularities concerning firm growth rates and industry firm-size distributions have been developed by studying primarily mature industries. The primary purpose of this article is to bring together and extend empirical regularities on the evolution of new industries and to use...

After their commercial introduction, the number of producers of autos, tires, televisions, and penicillin initially grew and then experienced a sharp decline or shakeout. Guided by an evolutionary model of entry and exit, firm survival patterns in the four products are examined to determine...