The power of imperfect imitation

• 成果类型: Article
• 署名作者: Posen, Hart E.; Lee, Jeho; Yi, Sangyoon
• 署名单位: University of Wisconsin System; University of Wisconsin Madison; Seoul National University (SNU); University of Southern Denmark
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.2007
• 发表日期: 2013
• 页码: 149-164
• 关键词: imitation; Heterogeneity; bounded rationality; industry evolution

摘要

We examine the power and limitations of imitation. Naive intuition may hold that the efficacy of imitation would be diminished by imperfections in copying high-performing firms. Employing a computational model, we study the dynamics of imitation when firms are subject to bounded rationality that limits their ability to copy the market leader. We find that imperfect imitation can generate unexpectedly good outcomes for follower firmsindeed, better than the outcomes achieved if they were perfect imitators. Moreover, imperfect imitation, from time to time, enables follower firms to surpass superior firms. These findings suggest there is an adaptive role to mechanisms, such as bounded rationality, that make perfect imitation difficult. Copyright (c) 2012 John Wiley & Sons, Ltd.