The Impact of Uncertainty and Sunk Costs on Firm Dynamics and Industry Structure: Evidence from the U.S. Manufacturing Sector

Vivek Ghosal ()

Working Papers from U.S. Department of Justice - Antitrust Division

Abstract: Motivated by relatively recent theoretical contributions on the role played by uncertainty, sunk costs and technological change in influencing entry, exit and industry structure, we conduct an empirical analysis covering 267 U.S. manufacturing industries over the period 1963-1992.

Keywords: INFORMATION; TECHNOLOGICAL CHANGE; FINANCING (search for similar items in EconPapers)
JEL-codes: L11 D80 O30 G10 L40 (search for similar items in EconPapers)
Date: 2001
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