Technology and Market Structure Theory and History
- Binding: Paperback
- Edition: 2
- Publisher: Mit Pr
- Publish date: 01/01/2001
Description:
Economists have traditionally taken two very different approaches to studying market structure. One looks to "industry characteristics" to explain why different industries develop in different ways; the other looks to the pattern of firm growth within a "typical" industry to describe the evolution of the size distribution of firms. In his new book, John Sutton sets out a unified theory that encompasses both approaches, while generating a series of novel predictions as to how markets evolve. Using statistical analysis and a detailed examination of industry histories, he rigorously tests these new predictions. Data in the paperback edition have been revised and updated.
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