Aray, Henry - Asociación Española de Economía y Finanzas … - 2011
from the experience of firms already settled in the foreign market which allows the sunk cost to diminish. In general, the … firms. As regards the Dixit case, decreasing sunk cost has a greater impact on entering than on exiting. Finally, the … combination of expected depreciation/appreciation rate and sunk cost has striking implications on the import share. …