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Product Differentiation And Oligopoly
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Book Synopsis Product Differentiation and Oligopoly by : Bruno Pellegrino
Download or read book Product Differentiation and Oligopoly written by Bruno Pellegrino and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product market rivalries that emerges endogenously out of the characteristics of the products and services they supply. My model embeds a novel, highly tractable and scalable demand system (GHL) that can be estimated for the universe of public corporations in the USA, using publicly-available data. Using the model, I compute firm-level markups and decompose them into: 1) a new measure of firm productivity that accounts for product quality; 2) a metric of network centrality, which captures the extent of competition from substitute products. I estimate that, in 2019, public corporations produced consumer surplus in excess of 10 US$ trillions (against $3 trillions of profits). Oligopoly lowers total surplus by 11.5% and depresses consumer surplus by 31%. My analysis also suggests that both numbers were significantly lower in the mid-90s (7.9% and 21.5%, respectively). These results should be interpreted with care due to data limitations.
Book Synopsis The Economic Theory of Product Differentiation by : John Beath
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.
Book Synopsis Product Differentiation and Oligopoly Market Structure by : Michael James Mazzeo
Download or read book Product Differentiation and Oligopoly Market Structure written by Michael James Mazzeo and published by . This book was released on 1998 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Differentiation and Market Performance in Oligopoly by : Stephen Martin
Download or read book Product Differentiation and Market Performance in Oligopoly written by Stephen Martin and published by . This book was released on 1989 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Discrete Choice Theory of Product Differentiation by : Simon P. Anderson
Download or read book Discrete Choice Theory of Product Differentiation written by Simon P. Anderson and published by MIT Press. This book was released on 1992 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The discrete choice approach provides an ideal framework for describing the demands for differentiated products and can be used for studying most product differentiation models in the literature. By introducing extra dimensions of product heterogeneity, the framework also provides richer models of firm location and product selection."--BOOK JACKET.
Book Synopsis Product differentiation, uncertainty and price coordination in oligopoly by : Michael Alexander Raith
Download or read book Product differentiation, uncertainty and price coordination in oligopoly written by Michael Alexander Raith and published by . This book was released on 1996 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Price Discrimination and Product Differentiation in Oligopoly by :
Download or read book Price Discrimination and Product Differentiation in Oligopoly written by and published by . This book was released on 2008 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Differentiation and Oligopoly in International Markets: the Case of the U.S. Automobile Industry by : Pinelopi Koujianou Goldberg
Download or read book Product Differentiation and Oligopoly in International Markets: the Case of the U.S. Automobile Industry written by Pinelopi Koujianou Goldberg and published by . This book was released on 1995 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Oligopoly Models for Product Differentiation by : Rune Stenbacka
Download or read book Oligopoly Models for Product Differentiation written by Rune Stenbacka and published by . This book was released on 1986 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Differentiation in Successive Vertical Oligopolies by : Paul Belleflamme
Download or read book Product Differentiation in Successive Vertical Oligopolies written by Paul Belleflamme and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a successive oligopoly model with two brands. Each downstream firm chooses one brand to sell on a final market. The upstream firms specialize in the production of one input specifically designed for the production of one brand, but they also produce the input for the other brand at an extra cost. We show that when more downstream firms choose one brand, more upstream firms will specialize in the input specific to that brand, and vice versa. Hence, multiple equilibria are possible and the softening effect of brand differentiation on competition might not be strong enough to induce maximal differentiation. The existence of equilibria and their welfare performance are also examined.
Book Synopsis Oligopoly Theory by : James Friedman
Download or read book Oligopoly Theory written by James Friedman and published by CUP Archive. This book was released on 1983-09-30 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: James Friedman provides a thorough survey of oligopoly theory using numerical examples and careful verbal explanations to make the ideas clear and accessible. While the earlier ideas of Cournot, Hotelling, and Chamberlin are presented, the larger part of the book is devoted to the modern work on oligopoly that has resulted from the application of dynamic techniques and game theory to this area of economics. The book begins with static oligopoly theory. Cournot's model and its more recent elaborations are covered in the first substantive chapter. Then the Chamberlinian analysis of product differentiation, spatial competition, and characteristics space is set out. The subsequent chapters on modern work deal with reaction functions, advertising, oligopoly with capital, entry, and oligopoly using noncooperative game theory. A large bibliography is provided.
Book Synopsis Existence and Stability of Cournot Oligopoly Models Incorporating Product Differentiation by : Allen Maurice Russell
Download or read book Existence and Stability of Cournot Oligopoly Models Incorporating Product Differentiation written by Allen Maurice Russell and published by . This book was released on 1986 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Differentiation by : Mario Pezzino
Download or read book Product Differentiation written by Mario Pezzino and published by LAP Lambert Academic Publishing. This book was released on 2011-08 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Goods, even if they satisfy identical needs, are not always identical. At the same time, consumers are not identical either: they can have different income and different preferences regarding product characteristics. Goods are horizontally differentiated when they represent different varieties (e.g. different colours, different designs, etc.) of a certain product. The coloured chairs on the cover of this book are an example of horizontal differentiation. Two products are vertically differentiated instead when one good is of a higher quality compared to the other. If all chairs on the cover were identical in colour, but one of them were of a higher quality, then that would be an example of vertical product differentiation. The objective of the book is to extend the theoretical literature on product differentiation. Specifically, the book addresses the following questions. What are the effects of the introduction of quality standards in a vertically differentiated oligopoly? What are the economics of competition between homogenous and horizontally differentiated products? What is the advertising behaviour of firms when magazines are differentiated platforms to reach consumers?
Book Synopsis Intra-Industry Trade with Bertrand and Cournot Oligopoly by : James A. Brander
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.
Download or read book Oligopoly Pricing written by Xavier Vives and published by MIT Press (MA). This book was released on 1999 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applies a modern game-theoretic approach to develop a theory of oligopoly pricing. The text relates classic contributions to the field of modern game theory and discusses basic game-theoretic tools and equilibrium, paying particular attention to developments in the theory of supermodular games.
Book Synopsis A Discrete Choice Model of Oligopoly Product Differentiation with an Application to the Airline Industry by :
Download or read book A Discrete Choice Model of Oligopoly Product Differentiation with an Application to the Airline Industry written by and published by . This book was released on 1989 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mixed Oligopoly, Product Differentiation and Competition for Public Transport Services by : Pedro Cantos Sánchez
Download or read book Mixed Oligopoly, Product Differentiation and Competition for Public Transport Services written by Pedro Cantos Sánchez and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores frequency and pricing decisions in a horizontally and vertically differentiated duopoly when there is competition between means of transport and where one of the firms need not necessarily maximize profits. The private and the mixed duopoly are compared and distortions from the social optimum are identified, both analytically and numerically. A mixed duopoly does not recover the socially optimal solution. However, the presence of a (public) non-profit maximizing operator is a useful measure to get closer to the social optimum. When both operators are (private) profit maximizers, some control measures such as price caps and minimum service availability would reduce the distortions from the social optimum.
