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In an endogenous sunk cost industry, by contrast, a ??
Consider second the case of an endogenous sunk cost industry.
As this quotation suggests, in endogenous sunk cost industries, the negative rela- tionship between concentration and market size breaks down.
In an endogenous sunk cost industry, a ??
In summary, two robust predictions for endogenous sunk cost industries are that the lower bound to equilibrium con- centration (i) is bounded away from zero as market size increases, and (ii) is not necessarily monotonic in market size.144 Figure 3b illustrates.
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