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Autor:innen: 
Baptista, Rui
Karaöz, Murat
Datum: 
2007
Schriftenreihe/Nr.: 
Jena Economic Research Papers No. 2007,043
Verlag: 
Friedrich Schiller University Jena and Max Planck Institute of Economics, Jena
Zusammenfassung: 
We examine turbulence over the product life cycle using the lowest possible level of industry aggregation, allowing for the use of panel data to study the evolution of single product markets. We find that replacement of exiting firms by subsequent entry plays a primary role in generating turbulence in high growth markets, while displacement of incumbents by recent entrants is the main selection force in declining markets. As product life cycles progress, trial-and-error entry subsides, and turbulence decreases.
Schlagwörter: 
Entry
Exit
Selection
Product life cycle
Replacement
Displacement
JEL: 
L11
Dokumentart: 
Working Paper

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