The purpose of this article is to provide a deeper empirical insight into the structural change of an industry which is more relevant than that obtained by an analysis based on the traditionally estimated average production function. The main contribution is a long run analysis of technical...

The purpose of this article is to provide a deeper empirical insight into the structural change of an industry which is more relevant than that obtained by an analysis based on the traditionally estimated average production function. The main contribution is a long run analysis of technical...

No abstract.

Uncertainty about the level of demand is thought to influence irreversible capacity decisions. This paper examines some implications of the theory literature on this topic in an empirical study of the US cement industry between 1994 and 2006. Firms in this sector have the ability to deliver...

The typical cost analysis of an environmental regulation consists of an engineering estimate of the compliance costs. In industries where fixed costs are an important determinant of market structure this static analysis ignores the dynamic effects of the regulation on entry, investment, and...

The principal hypothesis of this paper is that the U.S. cement industry for most of the sixties and seventies can serve as an instance of John M. Clark's concept of too strong competition. This paper argues that the mainstream academic view--notably that of S. M. Loescher and F. M....