Predation and Its Rate of Return: The Sugar Industry, 1887-1914
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We study entry into the American sugar refining industry before World War I. We show that the price wars following two major entry episodes were predatory. Our proof is twofold: by direct comparison of price to marginal cost, and by construction of predicted competitive price cost margins that we
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美国国家经济研究局创建时间：
1997-05-01
