Capacity and product market competition: measuring market power in a `puppy-dog' industry
نویسندگان
چکیده
منابع مشابه
Capacity and Product Market Competition: Measuring Market Power in a "Puppy-Dog" Industry
Capacity and Product Market Competition: Measuring Market Power in a 'Puppy-Dog' Industry* In this paper we specify and estimate a structural model which accounts for competition in two variables: capacity and prices. The model has a two-stage setup. In the first stage firms make capacity decisions followed by a product-differentiated, price setting game in the second stage. Since costs are end...
متن کاملProduct Market Competition and Stock Market Efficiency
How does competition in a firm's product market affect the behavior of its stock? We examine this question in a noisy rational expectations economy in which firms operate under monopolistic competition. Production is subject to productivity shocks and requires capital, raised on a perfectly competitive equity market. Investors observe firms' past profits and collect private information about th...
متن کاملBankruptcy and Product-Market Competition: Evidence from the Airline Industry∗
Classical models of product market competition maintain that firms maximize their profits regardless of their financial condition. Yet over the last two decades a growing theoretical literature has examined whether a firm’s capital structure impacts competition in the market for the firm’s products. In this paper we ask whether a firm operating under bankruptcy protection significantly reshapes...
متن کاملMeasuring Market Power in the Iranian Banking Industry According to the Boone Efficient-based Approach
The main objective of this paper is to evaluate the structure of the Iranian banking system and to measure the market power factor based on the Boone approach. In this paper, we investigated the Iranian organized money market, including 18 banks operating in the period of 2008-2015. To calculate the marginal cost (MC), we used a Translog Stochastic Frontier Cost Function. Findings based on the ...
متن کاملCorruption and Product Market Competition∗
It is generally considered that more competition might help curb corruption, as rents, which motivate corrupt agreements, are decreasing in the degree of competition. This paper proposes a framework to analyze the relationship between corruption and competition. It studies the optimal incentive scheme for potentially corrupt officials in charge of inspecting firms that compete in the product ma...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Journal of Industrial Organization
سال: 2000
ISSN: 0167-7187
DOI: 10.1016/s0167-7187(98)00054-x