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- W2023508315 abstract "This paper explains contemporaneous exit and entry in a new industry with a diffusion process across submarkets. It allows a re-interpretation of the shakeout process in some industries in a novel way. The industry is a collection of initially inactive independent submarkets; the timing of their activation is determined by an exogenous aggregate diffusion process. New submarket opening attracts new entry. However, the post-entry endogenous sunk investment requirement induced by innovations also forces much exit to follow entry. The aggregate market thus has overlapping exit and entry; and has a shakeout if the aggregate diffusion process follows a typical S-shape." @default.
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- W2023508315 date "2009-03-16" @default.
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- W2023508315 title "Explaining the Shakeout Process: A ‘Successive Submarkets’ Model" @default.
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- W2023508315 doi "https://doi.org/10.1111/j.1468-0297.2009.02252.x" @default.
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