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James Costantini
Senior Affiliate Professor of Strategy
Keywords
Firm and Industry Dynamics; Foresight; Myopia; Resources; Entry; Exit; IAF 10/11; IAF 2520442 ;
Working Paper
Costantini J. (2010). Entry, Investment and Exit in Response to an Industry Shock: Effect of Firm Limited Foresight and Myopic Discounting. 2010/70/ST
The question of whether firms may successfully adapt top a change in technology has led to divergent perspectives. The author considers this issue in the context of a model of firms in an industry facing a shift from a legacy to a new technology. The author allows for firm heterogeneity through entry and gradual accumulation of resources corresponding to the technologies.