Ghosal, Vivek - Abteilung "Wettbewerbsfähigkeit und industrieller … - 2003
This paper examines the role played by uncertainty and sunk costs on the timeseries fluctuations in industry structure ….S. manufacturing industries over a 30-year period, our estimates show that time periods of greater uncertainty, especially in … as a key driver of industry dynamics, our results indicate that uncertainty and sunk costs play a crucial role. Our …