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This course supplies analytical frameworks useful for explaining and predicting industry structure over time. Industry structure here means the set of “roles” available for firms and the “script” they act out. Emphasis is placed on economic approaches with robust empirical support, such as Sutton's theory of endogenous sunk costs and Klepper's synthesis of industry life-cycles. The implications of changing industry structure for firms' strategic choices are examined. (This course is offered on an irregular basis.)
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