This paper examines entry, exit, and the survival of firms in terms of evolutionary changes in the market from the first introduction of a product to maturity of the market. It is shown that both entry and exit rates depend systematically on the stage of development of the market in the cycle...

This paper examines historical changes in the duration of the interval between the commercial introduction of a new product and the time when entry by later competitors begins. A priori reasons are examined why the duration of this interval in the U.S. economy may either expand or contract. Data...