Gschwandtner, Adelina; Lambson, Val E. - In: The Review of Economics and Statistics 94 (2012) 4, pp. 1059-1065
Two of the most robust results from dynamic competitive models of industrial organization suggest that higher-sunk-cost industries should exhibit higher intertemporal variability in the market value of their firms and lower intertemporal variability in the size of their industries. These...