Abstract for: On Modeling Contested Markets with Endogenous Growth

Many emerging industries experience market growth and competition. An ideal system dynamics (SD) model should capture the interactions between market growth and competition by making both elements endogenous. We review models in the SD literature that simultaneously incorporate endogenous market growth and competition with the goal of comparing them to assess their relative strengths and weaknesses. We propose an alternative formulation and compare it with the existing models. Finally, we conclude that all models have weaknesses and discuss which models are more appropriate to use under different contexts.