Technological Change and Industry Structure: A Case Study of the Petroleum Industry

Jo Voola

    Research output: Contribution to journalArticle

    3 Citations (Scopus)

    Abstract

    This paper is a case study of the impact of an exogenous improvement of a process technology on the structure ofthe petroleum industry. The paper examines the role of three-dimensional seismology in bringing about the 1990s oilindustry consolidation. This proposition is examined in the context of evolutionary economics and in a non-cooperativegame theory, concluding with a reference to Steindl’s theory of industry dynamics. The significance of this contributionlies chiefly in highlighting the fact that exogenous technological change can, under appropriate conditions, play asignificant role in industry dynamics. This reference to the exogenous change in technology is a departure from thetraditional consideration of endogenity of industry structure in relation to technological development and, therefore, anovelty. Secondly, the documentation of 3D seismology as a significant process technology of the petroleum industryis significant.
    Original languageEnglish
    Pages (from-to)271-288
    JournalEconomics of Innovation and New Technology
    Volume15
    Issue number3
    Publication statusPublished - 2006

    Fingerprint

    Petroleum industry
    Seismology
    Industry
    Consolidation
    Crude oil
    Economics
    Industry dynamics
    Technological change
    Process technology
    Industry structure
    Petroleum
    Documentation
    Technological development
    Evolutionary economics

    Cite this

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    abstract = "This paper is a case study of the impact of an exogenous improvement of a process technology on the structure ofthe petroleum industry. The paper examines the role of three-dimensional seismology in bringing about the 1990s oilindustry consolidation. This proposition is examined in the context of evolutionary economics and in a non-cooperativegame theory, concluding with a reference to Steindl’s theory of industry dynamics. The significance of this contributionlies chiefly in highlighting the fact that exogenous technological change can, under appropriate conditions, play asignificant role in industry dynamics. This reference to the exogenous change in technology is a departure from thetraditional consideration of endogenity of industry structure in relation to technological development and, therefore, anovelty. Secondly, the documentation of 3D seismology as a significant process technology of the petroleum industryis significant.",
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    Technological Change and Industry Structure: A Case Study of the Petroleum Industry. / Voola, Jo.

    In: Economics of Innovation and New Technology, Vol. 15, No. 3, 2006, p. 271-288.

    Research output: Contribution to journalArticle

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    AB - This paper is a case study of the impact of an exogenous improvement of a process technology on the structure ofthe petroleum industry. The paper examines the role of three-dimensional seismology in bringing about the 1990s oilindustry consolidation. This proposition is examined in the context of evolutionary economics and in a non-cooperativegame theory, concluding with a reference to Steindl’s theory of industry dynamics. The significance of this contributionlies chiefly in highlighting the fact that exogenous technological change can, under appropriate conditions, play asignificant role in industry dynamics. This reference to the exogenous change in technology is a departure from thetraditional consideration of endogenity of industry structure in relation to technological development and, therefore, anovelty. Secondly, the documentation of 3D seismology as a significant process technology of the petroleum industryis significant.

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