haku: @author Stiglitz, J. / yhteensä: 5
viite: 3 / 5
| Tekijä: | Dasgupta, P. Stiglitz, J. |
| Otsikko: | Learning-by-doing, market structure and industrial and trade policies. |
| Lehti: | Oxford Economic Papers
1988 : JUN, VOL. 40:2, p. 246-268 |
| Asiasana: | LEARNING MARKET STRUCTURE INDUSTRIAL POLICY TRADE POLICY |
| Kieli: | eng |
| Tiivistelmä: | Learning-by-doing implies dynamic scale economies in production. It involves a form of sunk cost. Production during the infant phase assumes partially the role of investment. Such sunk cost is discretionary. The implications of learning on the structure, conduct and performance of an industry were analyzed. The main findings are: (1) there is a strong tendency towards concentration; (2) data on profits earned in the mature stage are not a reliable guide to the underlying characteristics of an industry; (3) small entry costs can render potential competition total ineffective; (4) during the learning phase even a protected private monopolist may wish to price its product below its current unit production cost. |
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