Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
Measuring the level of competition in an industry is an empirical task with a lengthy history. Many of the traditional measures offer a snapshot of the industry, where the distribution of market share is examined at a given point in time. The purpose of this inquiry is to utilize a regime-switching model which highlights the importance of intra-industry movement. The empirical results suggest that even in an environment where the distribution of market share is improving, an industry can still be persistently dominated by the same collection of leading firms.