Schmidt-Dengler, Philipp; Hünermund, Paul; Takahashi, Yuya - 2015
industry shakeout: a large number of firms exit within a short period. We present a simple timing game of entry and exit with …In many industries, the number of firms evolves non-monotonically over time. A phase of rapid entry is followed by an … particular, our model gener- ates richer and more realistic dynamics than competitive models previously analyzed. The entry phase …