Mikami, Kazuhiko; Tanaka, Satoru - In: Annals of Public and Cooperative Economics 81 (2010) 1, pp. 77-104
This paper examines implications of sunk costs of capital for efficient forms of enterprise. It is assumed that firm owners and outside traders are asymmetrically informed of venture risks, and that there are sunk costs associated with investment in physical and human capital. We then make an...
