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Nearly all industries exhibit geographic concentration. Most theories of the location of industry explain the persistence of these production centers as the result of economic efficiency. This article argues instead that heterogeneity in entrepreneurial opportunities, rather than differential performance, maintains geographic concentration. Entrepreneurs(More)
and UCSD theory workshops, the Stanford SITE and Stonybrook theory conferences, three anonymous referees and an anonymous co-editor, for thoughtful comments. Ryall thanks the John M. Olin foundation for financial support. Abstract We consider extensive-form games in which the information structure is not known and ask how much of that structure can be(More)
n-player coalitional games with transferable payo® o®er a promising framework for analyzing value appropriation under competition. But making progress necessitates understanding how the force of a player's value-producing alternatives a®ects the upper and lower bounds of his set of equilibrium (core) payo®s. Unfortunately, there are virtually no results of(More)