Fok, Dennis; van Stel, Andre; Burke, Andrew; Thurik, Roy - 2010
This paper conducts the first general equilibrium analysis of the role of entry, exit and profits in industry dynamics …, to discriminate between three aspects of industry dynamics: the effect of entry and exit on market equilibrium, duration … simultaneous equilibrium model of profits, entry and exit. We find that indeed entrants play an entrepreneurial function causing …