"In this paper we develop an empirical model of entrepreneurs' business continuation decisions, and we estimate its parameters using a new panel of monthly alcohol tax returns from bars in the state of Texas. In our data, entrepreneurial failure is frequent and predictable. In the first year of...

"This paper empirically examines the effects of market size on producers' sizes in retail trade industries with many producers. A robust prediction of oligopoly theory is that larger markets are more competitive and have lower price-cost markups. Because producers in more competitive markets...

"This paper evaluates the simplifying assumption that producers compete in a large market without substantial strategic interactions using nonparametric regressions of producers' choices on market size. With such atomistic competition, increasing the number of consumers leaves the distributions...