Fershtman, Chaim; Mahajan, Vijay; Muller, Eitan - In: Management Science 36 (1990) 8, pp. 900-918
In this paper we present an industry in which a pioneer has entered, accumulated capital in the form of goodwill, and in his monopoly period has also reduced his cost of production as a result of some form of learning by doing. At some later date a newcomer enters. His production cost is higher...
