industry shakeouts and technological change steven klepper carnegie mellon university kenneth l simons royal holloway of london 1999 date this version may print 4 dept social & decision sciences pittsburgh pa 15213 usa phone 1 412 269 3235 fax 268 6938 email sk3f andrew cmu edu economics college egham surrey tw20 0ex uk 44 1784 443909 439534 k rhbnc ac abstract we analyze new products that experience an initial rise then extreme shakeout in their number manufacturers probing the causes resulting market concentration novel data are collected on producer survival innovation for automobiles tires televisions penicillin hazard analyses indicate earlier entrants had persistently lower hazards during which is related to greater rates our findings suggest not triggered by particular or other events but part a competitive process most able
