Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/76054
Authors: 
Datta, Bipasa
Dixon, Huw D.
Year of Publication: 
2002
Series/Report no.: 
CESifo Working Paper 641
Abstract: 
This paper explores an equilibrium model for industry entry dynamics and technological change. We focus on the share valuation of firms in the transition as technology changes, and whether or not share prices are always increasing when technology improves. We find that there can be a U-shaped transition dynamic, so that an initial boom in share price is followed by a temporary fall in share price even though the underlying technology is improving.
Subjects: 
technology
share-price
entry
industry
dynamic.
JEL: 
D40
D92
L10
O30
Document Type: 
Working Paper

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