Without denying the importance of asymmetric information, this article purports the view that credit rationing may also originate from a lender's inability to classify loan applicants in proper risk categories. This effect is particularly strong when novel technologies are involved. Furthermore,...

An organization is more than the sum of its parts, and the individual components that function as a complex social system can be understood only by analyzing their collective behavior. This book shows how state-of-the-art simulation methods, including genetic algorithms, neural networks, and...

Technological innovation is widely considered as one of the most influential determinants of industry evolution. Along this line of inquiry, the seminal work of Tushman and Anderson (1986) presents one of the most compelling theoretical argumentations. Yet, the empirical support for their theory...

As deregulation of the electricity industry continues to gain momentum around the world, electricity companies face unprecedented challenges. Competitive complexity and intensity will increase substantially as deregulated companies find themselves competing in new industries, with new rules,...

An extensive empirical literature has demonstrated the existence of density-dependent selection in organizational vital rates. This research has also shown that historical trajectories followed by organizational populations only partly conform to the predictions of the original model....

We propose and test hypotheses about three endogenous mechanisms that may be driving the observed network structure of producers’ markets. We use data that we have collected on collaborative network ties among producers. Estimates of Exponential Random Graphs Models (ERGM) support our hypotheses.