NetLogo User Community Models
## WHAT IS IT?
This is a NetLogo version of the Nelson & Winter's industry dynamics mode presented in Chap.12&14 of Nelson, R. and S. Winter, 1984, An Evolutionary Theory of Economic Change, Belknapp Press, Cambridge: MA and in R. R. Nelson and S. G. Winter. The Schumpetarian tradeoff revisited. The American Economic Review, 72:114–132, 1982.
You can find a quick description of this model at the following address: http://yildizoglu.fr/nelwin/
In this model the dynamics of the industry, and its structure are determined by the innovative and imitative R&D activity of the firms.
## HOW IT WORKS
Technical progress is embodied, and a better technique corresponds to a higher productivity of the capital, the only production factor in this model.
## HOW TO USE IT
You can start with the default values of these parameters that mainly correspond to the ones used by Nelson and Winter.
## THINGS TO NOTICE
When you start with a value of zero for the probabilities to innovate, nothing happens: the model starts in a Cournot equilibrium and remains ther because no innovation can perturbate it.
When the initial probaility of innovation is positive, the industry starts to move as soon as the first innovation happens. The evolution of the maximal/average/minimal productivities indicate the evolution of the technologies of the firms.
## THINGS TO TRY
You can start without any imitators and increase slowly the initial probability of innovation to check the evolution of the industry as a consequence of the facility of innovating.
## EXTENDING THE MODEL
The user could easily introduce the extensions considered by
## NETLOGO FEATURES
## RELATED MODELS
## CREDITS AND REFERENCES
(c) Murat Yildizoglu, 2014-. Maybe freely distributed and modified.
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