@article {Voola:2006:1043-8599:271,
title = "Technological change and industry structure: A case study of the petroleum industry",
journal = "Economics of Innovation and New Technology",
parent_itemid = "infobike://routledg/gein",
publishercode ="routledg",
year = "2006",
volume = "15",
number = "3",
publication date ="2006-04-01T00:00:00",
pages = "271-288",
itemtype = "ARTICLE",
issn = "1043-8599",
eissn = "1476-8364",
url = "https://www.ingentaconnect.com/content/routledg/gein/2006/00000015/00000003/art00005",
doi = "doi:10.1080/10438590500149597",
keyword = "Mergers, Process technology, Seismology, Industry dynamics",
author = "Voola, Jo",
abstract = "This paper is a case study of the impact of an exogenous improvement of a process technology on the structure of the petroleum industry. The paper examines the role of three-dimensional seismology in bringing about the 1990s oil industry consolidation. This proposition is examined in the context of evolutionary economics and in a non-cooperative game theory, concluding with a reference to Steindl's theory of industry dynamics. The significance of this contribution lies chiefly in highlighting the fact that exogenous technological change can, under appropriate conditions, play a significant role in industry dynamics. This reference to the exogenous change in technology is a departure from the traditional consideration of endogenity of industry structure in relation to technological development and, therefore, a novelty. Secondly, the documentation of 3D seismology as a significant process technology of the petroleum industry is significant.",
}