Abstract
Path dependence is a universal problem in the transformation of resource-based cities that lead to fall into hold-up dilemma, lost perfect chance to transform, and pay more cost. This paper offered a model of resource-based cities life cycle that revealed the general transformation path that emphasized the key booming period, analyzed equilibrium of traditional resource industry and alternative industry that discloses the mechanism why the transformation of resource-based cities delayed until the recession period came, and suggested that the government of resource city can play important role in process of transformation through a model of entry barrier of new alternative industry.
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