JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES 44 78-89 2017年6月 [査読有り]
The phenomenon of young people (under 30) starting or working in ventures is common in Silicon Valley but rare in Japan. Avoiding cultural attributions upon which many international comparisons of entrepreneurship are truncated, we apply strategic...
The paper clarifies how sunk costs can lead a rational incumbent to innovate less than an entrant. It also demonstrates that competition among incumbents yields less adoption of new and more efficient production technology than competition which i...