Exit from the Meatpacking Industry: A Microdata Analysis
用probit模型分析牛屠宰厂退出的决定因素，发现工厂层面因素（如年龄、规模、范围）比市场因素更重要，但小工厂在高度集中的市场中更易退出。
Abstract We model the determinants of plant exit from the cattle‐slaughter industry using probit to distinguish between plant‐level (e.g., age, scale, and scope) and market‐level (e.g., market share, concentration, and competitive fringe) factors. Market variables are shown to be less important determinants of exit than plant‐level factors, though a significant tendency for very small plants to exit already highly concentrated markets is apparent. Government actions to stem the industry's consolidation must consider the trade‐off between welfare gains from the reduction of market power and welfare losses from foregone technological efficiency improvements.