AGGLOMERATION EFFECTS AND PERFORMANCE: A TEST OF THE TEXAS LODGING INDUSTRY

摘要

While competition decreases rents for firms, the presence of competitors may create ben- efits. Competitors that agglomerate, that are physically proximate, may create externali- ties-production efficiencies or heightened demand that increases rents. When such externalities, exist, then two gains from and who contributes to them? We examine how other competitors' traits affect performance in Texas's lodging industry.