“…The market came under heavy foreign competition, especially in the pistol segment, starting in the mid-1980s, and yielded considerable market share to foreign brands in the decades since, following trends in many other US manufacturing industries (Brauer 2013b). Beginning in the 1990s and 2000s, the market has relied on a combination of product design innovations (often making their products more deadly; see Diaz 2004;Smith et al 2015), market demographic expansion (Blair and Hyatt 1995;NSSF 2014NSSF , 2015, and demand stoking via vested interests, especially leveraging fear of crises and tightened legislation (see, e.g., Gopal and Greenwood 2017;Langley 1999). For instance, the impending passage of the federal Violent Crime Control and Law Enforcement Act of 1994 spurred the demand for, and production of, AR15 (assault)-style weapons that would soon be banned, creating a pre-passage price depression and a post-passage price surge (Koper and Roth 2002).…”