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Sunk Costs, Profit Variability, and Turnover

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Author Info
Adelina Gschwandtner
Val E. Lambson

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Abstract

Dynamic competitive models of industry evolution suggest that firm profit will be more volatile, and turnover lower, in industries with higher sunk costs. These implications are consistent with empirical observation. (JEL L00) Copyright 2006, Oxford University Press.

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File URL: http://hdl.handle.net/10.1093/ei/cbj021
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Publisher Info
Article provided by Oxford University Press in its journal Economic Inquiry.

Volume (Year): 44 (2006)
Issue (Month): 2 (April)
Pages: 367-373
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Handle: RePEc:oup:ecinqu:v:44:y:2006:i:2:p:367-373

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L00 - Industrial Organization - - General - - - General

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  1. Adelina Gschwandtner & Val E. Lambson, 2009. "Sunk Entry Costs, Sunk Depreciation costs, and Industry Dynamics," Vienna Economics Papers 0902, University of Vienna, Department of Economics. [Downloadable!]
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This page was last updated on 2009-11-19.

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