Wednesday, April 20, 2016
How the Sunk Costs of Incumbents Make Entrants Important for Innovation: A Model and Implications for Policy
Dimitry Rtischev, Gakushuin University explains How the Sunk Costs of Incumbents Make Entrants Important for Innovation: A Model and Implications for Policy. ABSTRACT: The paper clarifies how sunk costs can lead a rational incumbent to innovate less than an entrant....
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