Showing papers by "Oliver E. Williamson published in 1965"
1,204 citations
TL;DR: In this article, the authors investigated the influence of monopoly power on the proportion of innovations introduced by the four largest firms in an industry and found that monopoly power affects the relative contributions of these largest firms.
Abstract: IN A recent article in this Journal, Edwin Mansfield presented the innovation histories of the iron and steel, petroleum refining, and bituminous coal industries and ingeniously interpreted the data using a series of statistical models.2 Among the questions that he investigated is the following: What factors influence the proportion of innovations that will be introduced by the four largest firms in an industry? The present analysis raises a somewhat different but related question: What factors influence the relative proportion of innovations (that is, proportion of innovations in relation to market share) that will be introduced by the four largest firms? Formulating the question in this way permits us to focus directly on the issue of how monopoly power affects the relative contributions of these largest firms. I
149 citations
TL;DR: In this article, the authors present a gross description of a dynamic model, the interfirm relationships, a differential equations model, 585, proposed measurements, 594, self-recovery mechanism, 596, influence of structure, 599, and the effects of regulatory restraint.
Abstract: Introduction, 579. — I. A gross description, 580. — II. A dynamic model, 582; the interfirm relationships, 582; a differential equations model, 585; proposed measurements, 594. — III. Extensions, 595; a self-recovery mechanism, 596; the influence of structure, 599; the effects of regulatory restraint, 603.— IV. Conclusions, 606.
60 citations