Title
Small firm subsistence and market dimensionality
Author
Faculty/Department
Faculty of Applied Economics
Publication type
article
Publication
Singapore ,
Subject
Physics
Computer. Automation
Source (journal)
International journal of modern physics: C. - Singapore
Volume/pages
25(2014) :10 , p. 1-11
ISSN
0129-1831
0129-1831
Article Reference
1450053
Carrier
E-only publicatie
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
In many markets, large and small firms coexist. As large firms can in principle out-compete small ones, the actual presence of the latter asks for an explanation. In ours, we focus on the dimensionality of markets, which can change as a consequence of product innovations, preference elaboration or institutions. We show that increasing market dimensionality substantially enlarges the market periphery relative to the market center, which creates new potential niches for small firms. We thereby provide a parsimonious explanation for small firm subsistence.
E-info
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Handle