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The dynamics of industries and markets

Firm dynamics and the evolution of industries; selection in markets; heterogenous agent models; networks and interaction of economic agents
Istituto Economia

The faculty members involved in this area study the economies as complex evolving systems resulting from the interaction of many heterogeneous agents who learn and adapt their behavior. In this context, the aggregate properties of the system are emergent phenomena. Agent-based models represent the main tool for the investigation and the fields of application encompass growth fluctuations and climate change.

Major Publications

  1. Fontana, R.; Martinelli, A.; Nuvolari, A.  (2021), “Regimes reloaded! A reappraisal of Schumpeterian patterns of innovation”, Journal of Evolutionary Economics  Issue nr.: 1
  2. Dosi, G., M.E. Virgillito, X. Yu (2020): “The wage-productivity nexus in the World Factory Economy”, World Development, 104875.
  3. Bottazzi, G., P. Dindo, and D. Giachini (2018). “Long-run heterogeneity in an exchange economy with fixed-mix traders”. Economic Theory 66(2): 407-447, Springer Nature, Switzerland. DOI:
  4. Mina, A., H. Lahr (2016), “Venture capital investments and the technological performance of portfolio firms”, Research Policy 45(1): 303–318
  5. Giovannetti E., Magazzini L. (2013), “Resale Price Maintenance: an Empirical Analysis of UK Firms' Compliance”, The Economic Journal 123(572), F582-F595.
  6. Dosi, G., Moschella, D., Pugliese, E., & Tamagni, F. (2015). “Productivity, market selection, and corporate growth: comparative evidence across US and Europe”. Small Business Economics, 45(3), 643-672.
  7. Bottazzi G., G. Dosi, N. Jacoby, A. Secchi and F. Tamagni (2010), "Corporate performances and market selection. Some comparative evidence", Industrial and Corporate Change, 19(6), 1953-1996.
  8. Bottazzi, G. and Secchi, A. (2006), Explaining the distribution of firm growth rates. The RAND Journal of Economics, 37: 235-256.
  9. G. Bottazzi; G. Dosi; M. Lippi; F. Pammolli; M. Riccaboni (2001), “Innovation and Corporate Growth in the Evolution of the Drug Industry” ,  International Journal of Industrial Organization Volume nr.: 19 Issue nr.: 1