haku: @author Kessides, I. N. / yhteensä: 2
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| Tekijä: | Kessides, I. N. |
| Otsikko: | Towards a testable model of entry: A study of the US manufacturing industries. |
| Lehti: | Economica
1990 : MAY VOL. 57:226, p. 219-238 |
| Asiasana: | ENTRY CONDITIONS MANUFACTURING INDUSTRY USA |
| Kieli: | eng |
| Tiivistelmä: | Several important hypotheses are tested, a simple model of firm entry decisions is developed and fitted to industrial data. The results indicate that entry increases with the profit level of incumbents, holding fixed the expected losses that the entrant would suffer in the event of exit. The effects of sunk costs are significant, and incumbents are significantly more likely to react aggressively when they are both profitable and concentrated. The model provides some support to the hypothesis that market performance depends continuously on the degree of imperfection in its contestability. It was found that sunk costs are a prime impediment to contestability, depend on the rate of depreciation. |
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