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Author : Shon Ferguson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (837 download)
Download or read book Endogenous Product Differentiation, Market Size and Prices written by Shon Ferguson and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Shon M. Ferguson
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Endogenous Product Differentiation, Market Size and Prices written by Shon M. Ferguson and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a framework to understand how market size affects firms' investments in product differentiation in a model of monopolistic competition. The theory proposes that consumers' love of variety makes them more sensitive to product differentiation efforts by firms, which leads to more differentiated products in larger markets. The framework also predicts an inverted -shaped effect of trade liberalization on product differentiation, with trade liberalization leading to more differentiated products when starting from autarky but then leading to less differentiated products as the countries approach free trade.
Author : John Beath
Publisher : Cambridge University Press
ISBN 13 : 9780521335522
Total Pages : 220 pages
Book Rating : 4.3/5 (355 download)
Download or read book The Economic Theory of Product Differentiation written by John Beath and published by Cambridge University Press. This book was released on 1991-02-22 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are few industries in modern market economies that do not manufacture differentiated products. This book provides a systematic explanation and analysis of the widespread prevalence of this important category of products. The authors concentrate on models in which product selection is endogenous. In the first four chapters they consider models that try to predict the level of product differentiation that would emerge in situations of market equilibrium. These market equilibria with differentiated products are characterised and then compared with social welfare optima. Particular attention is paid to the distinction between horizontal and vertical differentiation as well as to the related issues of product quality and durability. This book brings together the most important theoretical contributions to these topics in a succinct and coherent manner. One of its major strengths is the way in which it carefully sets out the basic intuition behind the formal results. It will be useful to advanced undergraduate and graduate students taking courses in industrial economics and microeconomic theory.
Author : Walter James Lane
Publisher :
ISBN 13 :
Total Pages : 410 pages
Book Rating : 4.:/5 (318 download)
Download or read book Product Differentiation in a Market with Endogenous Sequential Entry written by Walter James Lane and published by . This book was released on 1978 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Oliver Lorz
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Trade and Variety in a Model of Endogenous Product Differentiation written by Oliver Lorz and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper sets up a model of endogenous product differentiation to analyze the variety effects of international trade. In our model multi-product firms decide not only about the number of varieties they supply but also about the degree of horizontal differentiation between these varieties. Firms can raise the degree of differentiation by investing variety-specific fixed costs. In this setting, we analyze how trade integration, i.e. an increase in market size, influences the number of firms in the market, the number of product varieties supplied by each firm, and the degree of differentiation.
Author : Gordon M. Phillips
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (73 download)
Download or read book Dynamic text-based industry classifications and endogenous product differentiation written by Gordon M. Phillips and published by . This book was released on 2010 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study how firms differ from their competitors using new dynamic measures of product differentiation based on novel text based analysis of 50,673 product descriptions from firm 10-K statements filed yearly with the Securities Exchange Commission. This year-by-year set of firm product differentiation measures allows us to generate a set of dynamic industry classifications and new measures of industry structure and competition. Competitiveness and market structure measures based on these new classifications better correlate with firm profitability than do classifications based on SIC or NAICs. Using these new dynamic industry classifications, we examine endogenous product differentiation. We show that firms use R & D and advertising to differentiate themselves from competitors and increase their profitability.
Author : Walter James Lane jr.
Publisher :
ISBN 13 :
Total Pages : 190 pages
Book Rating : 4.:/5 (249 download)
Download or read book Product differentiation in a market with endogenous sequential entry written by Walter James Lane jr. and published by . This book was released on 1978 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James A. Brander
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (917 download)
Download or read book Endogenous Horizontal Product Differentiation Under Bertrand and Cournot Competition written by James A. Brander and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a new and simple model of endogenous horizontal product differentiation based on a standard demand structure derived from quadratic utility. One objective of the paper is to explain the "empirical Bertrand paradox" - the failure to observe homogeneous product Bertrand oligopoly, while homogeneous product Cournot oligopoly has significant empirical relevance. In our model firms invest in product differentiation if differentiation investments are sufficiently effective (i.e. if differentiation is not too costly). The threshold level of differentiation effectiveness needed to induce such investments is an order of magnitude less for Bertrand firms than for Cournot firms. Thus there is a wide range over which Bertrand firms differentiate their products but Cournot firms do not. If Cournot firms do choose to differentiate their products, corresponding Bertrand firms always differentiate more. We also establish the important insight that if product differentiation is endogenous Bertrand firms may charge higher prices and earn higher profits than corresponding Cournot firms, in contrast to the general presumption that Bertrand behavior is more competitive than Cournot behavior. Interestingly, consumer surplus increases with differentiation in the Cournot model but, due to sharply increasing prices, decreases with differentiation in the Bertrand model.
Author : Gerard Hoberg
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)
Download or read book Text-Based Network Industries and Endogenous Product Differentiation written by Gerard Hoberg and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study how firms differ from their competitors using new time-varying measures of product differentiation based on text-based analysis of product descriptions from 50,673 firm 10-K statements filed yearly with the Securities and Exchange Commission. This year-by-year set of product differentiation measures allows us to generate a new set of industries and corresponding new measures of industry competition where firms can have their own distinct set of competitors. Our new sets of industry competitors better explain specific discussion of high competition by management, rivals identified by managers as peer firms and firm characteristics such as profitability and leverage than do existing classifications. We also find evidence that firm R&D and advertising are associated with subsequent differentiation from competitors, consistent with theories of endogenous product differentiation.
Author : Luca Lambertini
Publisher :
ISBN 13 :
Total Pages : 14 pages
Book Rating : 4.:/5 (933 download)
Download or read book RJVs and Price Collusion Under Endogenous Product Differentiation written by Luca Lambertini and published by . This book was released on 1997 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James A. Brander
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (94 download)
Download or read book Intra-Industry Trade with Bertrand and Cournot Oligopoly written by James A. Brander and published by . This book was released on 2015 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the effect of endogenous horizontal product differentiation on trade patterns and the gains from trade under Bertrand and Cournot oligopoly. Firms differentiate their products to mitigate competition, but only if the investment required is not too high. Investment in product differentiation takes place in a much wider range of cases and results in a greater difference between products under Bertrand than Cournot competition. In our model, trade in homogeneous products never takes place under Bertrand competition: Bertrand firms export only if they differentiate their products. Cournot firms may trade in either homogeneous or differentiated products. If there is trade, consumers tend to be better off with Bertrand than Cournot competition due to greater product differentiation and more aggressive pricing, but higher levels of investment can raise Bertrand profit above Cournot profit and also above the monopoly profit at autarky when investment costs are sufficiently low.
Author : Paul Belleflamme
Publisher : Cambridge University Press
ISBN 13 : 1316299449
Total Pages : 827 pages
Book Rating : 4.3/5 (162 download)
Download or read book Industrial Organization written by Paul Belleflamme and published by Cambridge University Press. This book was released on 2015-07-30 with total page 827 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thoroughly revised according to classroom feedback, Industrial Organization: Markets and Strategies offers an up-to-date and rigorous presentation of modern industrial organization that blends theory with real-world applications and derives implications for firm strategy and competition policy. This comprehensive textbook acquaints readers with the most important models for understanding strategies chosen by firms with market power and shows how such firms adapt to different market environments. The second edition includes new and revised formal models and case studies. Formal models are presented in detail, and analyses are summarized in 'lessons' which highlight the main insights. Theories are complemented by numerous real-world cases that engage students and lead them to connect theories to real situations. Chapters include review questions, exercises, and suggestions for further reading to enhance the learning experience, and an accompanying website offers additional student exercises, as well as teaching slides.
Author : Gregory S. Crawford
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (16 download)
Download or read book Endogenous Product Choice written by Gregory S. Crawford and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical models of differentiated product demand are widely used by both academics and practitioners. While these methods treat carefully the potential endogeneity of price, until recently they have assumed the number and characteristics of the products offered by firms are exogenous. This paper presents a progress report on an ongoing research agenda to address this issue. First, it summarizes how the appropriate choice of 'orthogonal' instruments can yield consistent estimates of own and cross-price elasticities in the presence of endogenous product characteristics. Second, it summarizes how to measure 'quality markups' and the welfare consequences of endogenous product quality in U.S. cable television markets. Related papers and extensions to consider multiple product characteristics and dynamics are also discussed.
Author : Don E. Waldman
Publisher : Routledge
ISBN 13 : 1315510510
Total Pages : 1108 pages
Book Rating : 4.3/5 (155 download)
Download or read book Industrial Organization written by Don E. Waldman and published by Routledge. This book was released on 2016-07-01 with total page 1108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written solely for the undergraduate audience, Industrial Organization: Theory and Practice, which features early coverage of Antitrust, punctuates its modern introduction to industrial organization with relevant empirical data and case studies to show students how to apply theoretical tools.
Author : Andreea Cosnita-Langlais
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (134 download)
Download or read book Endogenous Market Structures, Product Liability, and the Scope of Product Differentiation written by Andreea Cosnita-Langlais and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steven T. Berry
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (12 download)
Download or read book Identification in differentiated products markets using market level data written by Steven T. Berry and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider nonparametric identification in models of differentiated products markets, using only market level observables. On the demand side we consider a non-parametric random utility model nesting random coefficients discrete choice models widely used in applied work. We allow for product/market-specific unobservables, endogenous product characteristics e.g., prices), and high-dimensional taste shocks with arbitrary correlation and heteroskedasticity. On the supply side we specify marginal costs nonparametrically, allow for unobserved firm heterogeneity, and nest a variety of equilibrium oligopoly models. We pursue two approaches to identification. One relies on instrumental variables conditions used previously to demonstrate identification in a nonparametric regression framework. With this approach we can show identification of the demand side without reference to a particular supply model. Adding the supply side allows identification of firms' marginal costs as well. Our second approach, more closely linked to classical identification arguments for supply and demand models, employs a change of variables approach. This leads to constructive identification results relying on exclusion and support conditions. Our results lead to a testable restriction that provides the first general formalization of Bresnahan's (1982) intuition for empirically discriminating between alternative models of oligopoly competition.
Author : Norman J. Ireland
Publisher : Wiley-Blackwell
ISBN 13 : 9780631138464
Total Pages : 192 pages
Book Rating : 4.1/5 (384 download)
Download or read book Product Differentiation and Non-price Competition written by Norman J. Ireland and published by Wiley-Blackwell. This book was released on 1987-01-01 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
