search query: @indexterm INDUSTRIAL STRUCTURE / total: 282
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| Author: | Elberfeld, W. |
| Title: | Market size and vertical integration: Stigler's hypothesis reconsidered |
| Journal: | Journal of Industrial Economics
2002 : MAR, VOL. 50:1, p. 23-42 |
| Index terms: | INDUSTRIAL STRUCTURE MARKET STRUCTURE VERTICAL INTEGRATION |
| Language: | eng |
| Abstract: | According to Stigler (1951), vertical disintegration should be the typical development in growing industries, vertical integration in declining industries. The basic argument is that firms will spin off production stages subject to increasing returns to scale in response to market growth. This paper re-examines Stigler's hypothesis within an equilibrium model of industrial structure in which the organization of firms is endogenous. |
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