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Revealed Preference Tests For Price Competition In Multi Product Differentiated Markets
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Book Synopsis Revealed Preference Tests for Price Competition in Multi-product Differentiated Markets by : Yuta Yasui
Download or read book Revealed Preference Tests for Price Competition in Multi-product Differentiated Markets written by Yuta Yasui and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assumptions on competitive structure are often crucial for marginal cost estimation and counterfactual predictions. This paper introduces tests for price competition among multi-product firms are introduced. The tests are based on the firm's revealed preference (revealed profit function). In contrast to other approaches based on estimated demand functions such as conduct parameter estimation, the proposed tests do not require any instrumental variables even though the models can accommodate structural error terms. In this paper, I employ a demand structure introduced by Nocke and Schutz (2018), the discrete/continuous choice model, which nests the multinomial logit demand and CES demand functions. Any price and quantity data can be rationalized by price competition under a discrete/continuous choice model and increasing marginalcosts. Adding more assumptions on the demand function, such as logit, CES, or the co-evolving and log-concave property produces some falsifiable restrictions.
Book Synopsis Price Competition, Information Acquisition, and Product Differentiation Perception by : Gary Biglaiser
Download or read book Price Competition, Information Acquisition, and Product Differentiation Perception written by Gary Biglaiser and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider the equilibrium interplay between sellers' price competition and consumers' perception of product differentiation. We analyze a situation where, before trading, consumers acquire information at a cost about their preferences between sellers' differentiated products. The incentive for information acquisition depends on the average value of products, the objective product differentiation, and their beliefs about sellers' prices. The acquired information shapes consumers' perceived product differentiation and sellers' equilibrium prices. We characterize the unique symmetric equilibrium and study comparative statics with respect to consumer information acquisition cost and sensitivity to product differentiation. We then apply our model to platform design.
Book Synopsis Product Differentiation and Price Competition Between a Safe and a Risky Seller by : Winand Emons
Download or read book Product Differentiation and Price Competition Between a Safe and a Risky Seller written by Winand Emons and published by . This book was released on 1998 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Revealed Price Preference by : Rahul Deb
Download or read book Revealed Price Preference written by Rahul Deb and published by . This book was released on 2017 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a model of demand where consumers trade-off the utility of consumption against the disutility of expenditure. This model is appropriate whenever a consumer's demand over a strict subset of all available goods is being analyzed. Data sets consistent with this model are characterized by the absence of revealed preference cycles over prices. The model is readily generalized to the random utility setting, for which we develop nonparametric statistical tests. Our application on national household consumption data provides support for the model.
Book Synopsis Price competition with information disparities in a vertically differentiated duopoly by : Alberto Cavaliere
Download or read book Price competition with information disparities in a vertically differentiated duopoly written by Alberto Cavaliere and published by . This book was released on 2004 with total page 31 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 A Note on Price Competition in Product Differentiation Models by : Jean J. Gabszewicz
Download or read book A Note on Price Competition in Product Differentiation Models written by Jean J. Gabszewicz and published by . This book was released on 2009 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Preferences, Confusion and Competition by : Andreas Hefti
Download or read book Preferences, Confusion and Competition written by Andreas Hefti and published by . This book was released on 2020 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do firms seek to make the market transparent, or do they confuse consumers in their product perceptions? We show that the answer to this question depends decisively on preference heterogeneity. Contrary to the well-studied case of homogeneous goods, confusion is not necessarily an equilibrium in markets with differentiated goods. In particular, if the taste distribution is polarized, so that indifferent consumers are relatively rare, firms strive to fully educate consumers. By contrast, if the taste distribution features a concentration of indecisive consumers, confusion becomes part of the equilibrium strategies. The adverse welfare consequences of confusion can be more severe than with homogeneous goods, as consumers may not only pay higher prices, but also choose a dominated option, or inefficiently refrain from buying. Qualitatively similar insights obtain for political contests, in which candidates compete for voters with heterogeneous preferences.
Book Synopsis Consumer Choice of Food Products and the Implications for Price Competition and Government Policy by : Eliza M. Mojduszka
Download or read book Consumer Choice of Food Products and the Implications for Price Competition and Government Policy written by Eliza M. Mojduszka and published by . This book was released on 1988* with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Price Competition and Product Differentiation when Goods Have Network Effects by : Klaus Conrad
Download or read book Price Competition and Product Differentiation when Goods Have Network Effects written by Klaus Conrad and published by . This book was released on 2004 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Identification in differentiated products markets using market level data by : Steven T. Berry
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.
Book Synopsis Quantitative Techniques for Competition and Antitrust Analysis by : Peter Davis
Download or read book Quantitative Techniques for Competition and Antitrust Analysis written by Peter Davis and published by Princeton University Press. This book was released on 2009-11-16 with total page 1185 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book combines practical guidance and theoretical background for analysts using empirical techniques in competition and antitrust investigations. Peter Davis and Eliana Garcés show how to integrate empirical methods, economic theory, and broad evidence about industry in order to provide high-quality, robust empirical work that is tailored to the nature and quality of data available and that can withstand expert and judicial scrutiny. Davis and Garcés describe the toolbox of empirical techniques currently available, explain how to establish the weight of pieces of empirical work, and make some new theoretical contributions. The book consistently evaluates empirical techniques in light of the challenge faced by competition analysts and academics--to provide evidence that can stand up to the review of experts and judges. The book's integrated approach will help analysts clarify the assumptions underlying pieces of empirical work, evaluate those assumptions in light of industry knowledge, and guide future work aimed at understanding whether the assumptions are valid. Throughout, Davis and Garcés work to expand the common ground between practitioners and academics.
Book Synopsis Handbook of Industrial Organization by : Richard Schmalensee
Download or read book Handbook of Industrial Organization written by Richard Schmalensee and published by North Holland. This book was released on 1989-09-11 with total page 1002 pages. Available in PDF, EPUB and Kindle. Book excerpt: Determinants of firm and market organization; Analysis of market behavior; Empirical methods and results; International issues and comparision; government intervention in the Marketplace.
Book Synopsis The Antitrust Paradox by : Robert Bork
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Book Synopsis Market Response Models by : Dominique M. Hanssens
Download or read book Market Response Models written by Dominique M. Hanssens and published by Springer Science & Business Media. This book was released on 2005-12-19 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: From 1976 to the beginning of the millennium—covering the quarter-century life span of this book and its predecessor—something remarkable has happened to market response research: it has become practice. Academics who teach in professional fields, like we do, dream of such things. Imagine the satisfaction of knowing that your work has been incorporated into the decision-making routine of brand managers, that category management relies on techniques you developed, that marketing management believes in something you struggled to establish in their minds. It’s not just us that we are talking about. This pride must be shared by all of the researchers who pioneered the simple concept that the determinants of sales could be found if someone just looked for them. Of course, economists had always studied demand. But the project of extending demand analysis would fall to marketing researchers, now called marketing scientists for good reason, who saw that in reality the marketing mix was more than price; it was advertising, sales force effort, distribution, promotion, and every other decision variable that potentially affected sales. The bibliography of this book supports the notion that the academic research in marketing led the way. The journey was difficult, sometimes halting, but ultimately market response research advanced and then insinuated itself into the fabric of modern management.
Book Synopsis Networked Publics by : Kazys Varnelis
Download or read book Networked Publics written by Kazys Varnelis and published by MIT Press. This book was released on 2012-08-17 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: How maturing digital media and network technologies are transforming place, culture, politics, and infrastructure in our everyday life. Digital media and network technologies are now part of everyday life. The Internet has become the backbone of communication, commerce, and media; the ubiquitous mobile phone connects us with others as it removes us from any stable sense of location. Networked Publics examines the ways that the social and cultural shifts created by these technologies have transformed our relationships to (and definitions of) place, culture, politics, and infrastructure. Four chapters—each by an interdisciplinary team of scholars using collaborative software—provide a synoptic overview along with illustrative case studies. The chapter on place describes how digital networks enable us to be present in physical and networked places simultaneously—often at the expense of nondigital commitments. The chapter on culture explores the growth and impact of amateur-produced and remixed content online. The chapter on politics examines the new networked modes of bottom-up political expression and mobilization. And finally, the chapter on infrastructure notes the tension between openness and control in the flow of information, as seen in the current controversy over net neutrality.
Book Synopsis The Oxford Handbook of Productivity Analysis by : Emili Grifell-Tatjé
Download or read book The Oxford Handbook of Productivity Analysis written by Emili Grifell-Tatjé and published by Oxford University Press. This book was released on 2018-08-07 with total page 902 pages. Available in PDF, EPUB and Kindle. Book excerpt: Productivity underpins business success and national well-being and thus it is crucial to understand the factors that influence productivity growth. This volume provides a comprehensive exploration into the significance of productivity growth for business, the economy, and for social economic progress. It examines how productivity is defined, measured and implemented. It also surveys the dispersion of productivity across time and place, focusing on the productivity dynamics that either leads to a reallocation of resources that reduces dispersion and increases aggregate productivity or, conversely, allows dispersion to persist behind barriers to productivity-enhancing reallocation. A third focus is an investigation of the drivers of, or impediments to, productivity growth, some of which are organizational in nature and under management control and others of which are institutional in nature and subject to public policy intervention. The Oxford Handbook of Productivity Analysis contains contributions of distinguished productivity experts from around the world who analyze a wide range of timely issues. These issues concern purely analytical topics surrounding the measurement of productivity in various situations, beginning with the ideal situation in which all inputs and all outputs, and their prices, are observed accurately. They also include service sectors such as education in which the services provided are hard to define, much less measure, and other sectors that generate undesirable environmental externalities that are difficult to price and complicate the very definition of productivity. The issues also involve business management topics ranging from the role of business models and benchmarking to the quality of management practices, the adoption of new technologies, and possible complementarities between the two. The relationship between productivity and business performance is also explored. At a more aggregate level the issues range from the impacts of market power, incentive regulation, international trade and global value chains on productivity, to the contribution of productivity to economic development and economic welfare.
