Graduate Thesis Or Dissertation
 

The estimation of sunk costs in the U.S. brewing industry

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https://ir.library.oregonstate.edu/concern/graduate_thesis_or_dissertations/fj2364418

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  • The purpose of this thesis is to provide an estimate of sunk costs in the U.S. brewing industry and analyze the relationships among sunk costs, advertising, and concentration. The estimation procedures involves three steps: (1) estimation of the market value of new and used plant and equipment per barrel of productive capacity, (2) estimation of sunk costs per barrel of productive capacity, and (3) estimation of the total sunk costs of starting a new firm at efficient size. After estimating sunk costs, we investigate the relationships between sunk costs and advertising expenditures and sunk costs and concentration in the U.S. brewing industry. Our Empirical results suggest that sunk costs and advertising expenditures have negative relationship from 1950 to 1975, but have high positive relationship during 1976-2000. Sunk costs and concentration also have high positive correlation from 1950 to 2000 in the U.S. brewing industry.
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