This paper reviews empirical and theoretical work concerning the relationship between innovative activities of firms and the dynamics of industries. Stylized facts on industry evolution and the analysis of industrial dynamics in general are a first building block. This discussion just reflects a...

For given product specifications by two competing firms the demand levels are determined by a randomly generated ideal composition of aspects. Firms can vary some or all aspects of these products, based on information about own (and other's) previous demand. Although the product space is much...

Avoiding labor shortages for skilled employees is one of the major challenges for highly competitive firms acting in tight labor markets. The ability to avoid labor shortages on the company level, for example measured by the share of vacant jobs, is distributed very unevenly and cannot in...

Although participation in continuing vocational training is often found to be associated with considerable individual benefits, a puzzlingly large number of people still do not take part in training. We argue that in order to solve the puzzle it is important to take selection effects into...