The Dynamics Evolution of Industrial Life Cycle: A Time Series Analysis of Gambling Industry in Atlantic City
This paper highlights the historical evolution of Atlantic City's gambling industry in an integrative framework. It has been developed from the perspectives of the industrial market, industrial organizations, industrial policies, and industrial innovation. Data mining was employed to obtain local official documents to verify the dynamic evolution of the industrial life cycle (ILC) in the introduction, growth, maturity, and decline stages via a time series analysis. The trajectory of Atlantic City's gambling industrial evolution revealed the process from the stages of introduction to decline via a set of variables to describe the special properties of this sector, such as product, market, and organization under a unique industrial environment, in which the decline stage of ILC was a particular proved via the evidence of gambling industry in Atlantic City. The dynamic evolution of the gambling industry presented the ongoing recovery process of the Atlantic City gambling industry to enrich the theory of ILC in service sectors.
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