Sunk costs, Profit Volatility, and Turnover

Adelina Gschwandtner and Val E. Lambson ()

Vienna Economics Papers from University of Vienna, Department of Economics

Abstract: Dynamic competitive models of industry evolution suggest that firm profit will be more volatile and turnover will be lower in industries with higher sunk costs. These implications are consistent with empirical observation.

JEL-codes: L00 (search for similar items in EconPapers)
Date: 2004-04
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