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Entry by spinoffs from incumbent firms is investigated for the laser industry. A model in which spinoffs exploit knowledge from their parents is constructed to explain the market conditions conducive to spinoffs, the types of firms that spawn spinoffs, and the relationship of spinoffs to their parents. The model is tested using detailed data on all laser(More)
The evolution of the geographic distribution of producers in the television receiver and automobile industries is analyzed. Both industries experienced sharp shakeouts and evolved to be oligopolies, suggestive of increasing returns. The television receiver industry was initially concentrated regionally but evolved to be more dispersed over time. In(More)
We examine the evolving structure of the US hospital industry since 1970, focusing on how ownership form influences entry and exit behavior. We develop theoretical predictions based on the model of Lakdawalla and Philipson, in which for-profit and not-for-profit hospitals differ regarding their objectives and costs of capital. The model predicts for-profits(More)
We examine how the local availability of offline retail options drives use of the online channel and consequently how the convenience, selection, and price advantages of the online channel may vary by geographic location. In particular, we examine the effect of local store openings on online book purchases in that location. We explore this problem using(More)
Technology Mini-Conference for helpful comments. The authors also thank the attorneys at various pharmaceutical and law firms for providing their insights and experiences in interviews as well as Romel Mostafa for research assistance. All remaining errors are the responsibility of the authors. Authors' names are listed alphabetically. Abstract Considerable(More)