The process by which retail establishments close is examined. A model of closure is proposed, and a relatively simple, econometrically estimable form is developed. The basic model treats closure of a firm in the two year interval spanned by this data as a discrete event. Using a model that closely parallels discrete choice models now widely used in travel demand analysis, the probability an establishment closes is represented as a function of the establishment's attributes and those of its competition.
Samenvatting