Skip Nav Destination
Close Modal
Update search
NARROW
Format
Journal
Date
Availability
1-1 of 1
Val E. Lambson
Close
Follow your search
Access your saved searches in your account
Would you like to receive an alert when new items match your search?
Sort by
Journal Articles
Publisher: Journals Gateway
The Review of Economics and Statistics (2012) 94 (4): 1059–1065.
Published: 01 November 2012
Abstract
View article
PDF
Two of the most robust results from dynamic competitive models of industrial organization suggest that higher-sunk-cost industries should exhibit higher intertemporal variability in the market value of their firms and lower intertemporal variability in the size of their industries. These predictions have done well empirically. This paper argues on theoretical and empirical grounds that depreciation generates countervailing effects.