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David D. VanHoose
Regulatory Versus Natural Endogenous Sunk Costs: Observational Equivalence In Rationalizing Lower Bounds...
Xuất bản: 27 July, 2022
We propose a theory of `regulatory endogenous sunk costs’ (RESC), in which a captured regulator raises minimum quality standards when market size increases in order to protect incumbent rms. Our RESC theory’s predictions that market size...