Creative destruction in local markets

Jaap Abbring and Jeffrey Campbell

Economic Perspectives, 2004, vol. 28, issue Q II, 50-60

Abstract: This article uses a panel of Texas restaurants' and bars' alcohol to measure the pace of creative destruction--the ongoing replacement of unproductive competitors with the new firms--and it investigates whether producers in more concentrated markets might use their market power to stabilize the industry structure. The authors find the opposite to be true: Local markets with more concentrated alcohol sales display more creative destruction.

Keywords: Competition; Markets (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (2)

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