I propose a computational model of industry evolution capable of matching many stylized facts. It views the firm as a myopic but adaptive entity whose survival depends on its ability to perform various activities with greater efficiency than its rivals. In this model, the shakeout pattern arises...

Leniency programs have become widespread and are generally quite active as reflected in the number of applications. What is not well-understood is how they affect the number of cartels. This paper develops and explores a theoretical framework to help understand when leniency programs are likely...

In the context of a multi-unit organization such as a retail chain, this paper explores the interaction of organizational structure - in terms of the allocation of authority - and market structure - in terms of the number of competing firms - on the rate of innovation in unit-level practices and...

The agent-based approach views an organization as a collection of agents, interacting with one another in their pursuit of assigned tasks. The performance of an organization in this framework is determined by the formal and informal structures of interactions among agents, which define the lines...

To explore the efficacy of a corporate leniency program, a Markov process is constructed which models the stochastic formation and demise of cartels. Cartels are born when given the opportunity and market conditions are right, while cartels die because of internal collapse or they are caught and...

We explore the evolution of the structure and performance of a social network in a population of individuals who search for local optima in diverse and dynamic task environments. Individuals choose whether to innovate or imitate and, in the latter case, from whom to learn. The probabilities of...