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Sunk costs and market structure : price competition, advertising, and the evolution of concentration
Sunk Costs and Market Structure bridges the gap between the new generation of game theoretic models that has dominated the industrial organization literature over the past ten years and the traditional empirical agenda of the subject as embodied[...]
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John Sutton sets out a unified theory that encompasses two major approaches to studying market, while generating a series of novel predictions as to how markets evolve. Economists have traditionally taken two very different approaches to studyin[...]
