Berninghaus, Siegfried K.; Völker, Rainer - Fachbereich Wirtschaftswissenschaften, Universität Konstanz - 1989
In a seminal paper O. Williamson (1968) pointed out the relevance of wage rates as a barrier to entry. The crucial point in Williamson's argument is the technological difference between incumbents and entrants - as a potential entrant is supposed to produce with a more labor intensive technology...