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《Review of Industrial Economics》 2004-01
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Sunk Costs,Barriers to Exit,and Industrial Restructuring:a Theoretical Foundations and Policy Implications

Tang Jijun (Liaoning University)  
The Paper is to analyze the consequence of industrial restructuring in terms of sunk intangible/tangible assets and contractual Commitments.Combined with imperfect market, the production possibility curve and indifference curve are to distinguish between the effect of the null and positive sunk costs on industrial restructuring.We have found that,not fixed costs, but sunk costs,are the only economic factor that influences the economic efficiency and wel- fare.Additionally we provide the solutions to industrial restructuring,e.g.reduce or recover the sunk costs,promote the mobility.When we apply the principle of sunk costs to SOEs reforms, we again gain from the sunk costs perspectives.
【CateGory Index】: F275;F224
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【Citations】
Chinese Journal Full-text Database 4 Hits
1 Liu Xiaoxuan;Reset Enterprise Boundary: De-integrated Restructure of Property Right——One of the Models of Restructuring Large and Medium-sized State-owned Enterprises[J];Economic Research Journal;2001-04
2 Wang Hongling & Others;Why Do Government Dump State Enterprises? Evidence from China[J];Economic Research Journal;2001-08
3 Yang Canming;The Characteristics of Property Right and Industrial Orientation[J];Economic Research Journal;2001-09
4 Liu Xiaoxuan (Institute of Economic,CASS);The Equilibrium Model for Privatization of Chinese State-owned Enterprises[J];Economic Research Journal;2003-09
【Secondary Citations】
Chinese Journal Full-text Database 2 Hits
1 Zhou Qiren;The Nature of Publicly owned Enterprise[J];Economic Research Journal;2000-11
2 Liu Xiaoxuan;Enterprise Behavior and Market Equilibrium in China's Transition Period[J];Social Sciences In China;2003-02
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