Argyres, Nicholas; Bigelow, Lyda - In: Management Science 53 (2007) 8, pp. 1332-1344
hand, assumes generally competitive markets and does not address the industry life cycle. It therefore implies that … theories of the industry life cycle could usefully take transaction costs into account along with production costs in their … life cycle. Analyzing data from the early U.S. auto industry (1917-1933), we find that while transaction misalignment did …