Barseghyan, Levon; DiCecio, Riccardo - 2009
CSEF-IGIER Symposium on Economics and Institutions, the 2009 North American Summer
Meeting of the Econometric Society, the … hotel industry. In both of these industries, most of sunk entry costs explicitly
arise from construction costs of business … particular, is not required to pay up front for
building or setting up business premises. We assume that all economies in our …