The Impact of Uncertainty and Sunk Costs on Firm Dynamics and Industry Structure: Evidence from the U.S. Manufacturing Sector
Motivated by relatively recent theoretical contributions on the role played by uncertainty, sunk costs and technological change in influencing entry, exit and industry structure, we conduct an empirical analysis covering 267 U.S. manufacturing industries over the period 1963-1992.
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|Date of creation:||2001|
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