>And what do you say on the predation thing?
I'm not sure. I wouldn't be surprised if it was true, but I don't think you need any
predation to explain why new entrants would be very unstable and have low survival
rates in a market with significant economies of scale but no effective barriers to
entry. Simple competition between the new entrants could be enough to explain their
failure. But I don't know the facts well enough to know that that is the explanation.
-- Bill Dickens
William T. Dickens
The Brookings Institution
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