Estimating market power and strategies:
Gespeichert in:
| Beteiligte Personen: | , , |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
New York, NY
Cambridge Univ. Press
2007
|
| Ausgabe: | 1. publ. |
| Schlagwörter: | |
| Links: | http://www.loc.gov/catdir/toc/ecip078/2007000000.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015668086&sequence=000006&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Beschreibung: | Includes bibliographical references and index |
| Umfang: | XI, 340 S. graph. Darst. |
| ISBN: | 9780521011143 9780521804400 |
Internformat
MARC
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| 100 | 1 | |a Perloff, Jeffrey M. |d 1950- |e Verfasser |0 (DE-588)131407481 |4 aut | |
| 245 | 1 | 0 | |a Estimating market power and strategies |c Jeffrey M. Perloff ; Larry S. Karp ; Amos Golan |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a New York, NY |b Cambridge Univ. Press |c 2007 | |
| 300 | |a XI, 340 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Includes bibliographical references and index | ||
| 650 | 4 | |a Unternehmen | |
| 650 | 4 | |a Business enterprises |x Finance | |
| 650 | 4 | |a Corporations |x Finance | |
| 650 | 4 | |a Accounting | |
| 650 | 4 | |a Strategic planning | |
| 650 | 4 | |a Organizational effectiveness | |
| 650 | 0 | 7 | |a Finanzierung |0 (DE-588)4017182-6 |2 gnd |9 rswk-swf |
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| 689 | 0 | |5 DE-604 | |
| 700 | 1 | |a Karp, Larry S. |e Verfasser |0 (DE-588)129807729 |4 aut | |
| 700 | 1 | |a Golan, Amos |e Verfasser |0 (DE-588)133666085 |4 aut | |
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| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-015668086 | |
Datensatz im Suchindex
| _version_ | 1819300420080631808 |
|---|---|
| adam_text | Contents
Foreword page xi
1 Introduction and Overview 1
Three Main Questions 1
Structure-Conduct-Performance 3
Static Models 5
Dynamics 7
Strategies 11
2 Structure-Conduct-Performance 13
Measures of Market Performance 14
Rate of Return 14
Price-Cost Margins 18
Tobin s q 19
Measures of Market Structure 19
Firm Size Distribution 20
Concentration Measures 20
Concentration Statistics 20
Problems with Using Concentration Measures 22
Summary Statistic Biases 23
Barriers to Entry 24
Unionization 25
The Relationship of Structure to Performance 25
Rates of Return and Industry Structure 25
Price—Cost Margins and Industry Structure 27
Price-Average Cost Margins 27
Price-Marginal Cost Margins 28
Other Explanatory Variables 30
International Studies of Performance and Structure 30
Contents vii
Performance and Structure in Individual Industries 31
Measurement and Statistical Problems 31
Conceptual Problems 32
A Modern Structure-Conduct—Performance Approach 34
Theory 34
Exogenous Sunk Cost 35
Endogenous Sunk Costs 37
Empirical Research 39
Summary 40
Problems 40
3 Industry Models of Market Power 42
Structural Approach 43
Interpretations of k 45
Identification 47
Estimation and Hypothesis Tests 50
Taxes: An Application 51
Nonparametric and Reduced-Form Models 53
Comparative Statics 53
Hall s Reduced-Form Approach 55
Oligopsony 58
Structural Oligopsony Model 58
Hall s Reduced-Form Oligopsony Model 59
How Well These Methods Work 59
Tests Based on Cost Evidence 60
Oligopoly Simulations 60
Structural Model 62
Hall s Reduced-Form Model 65
Empirical Comparisons 69
Summary 70
Problems 72
4 Differentiated-Product Structural Models 74
Residual Demand 75
Neoclassical Demand System 77
Multilevel Demand Specifications 77
An Almost Ideal Demand System Example 78
Estimation 80
Identification 80
Instruments 81
Hypothesis Tests 82
Random Parameter Model 83
Linear Random Utility Model 83
viii Contents
Estimating the Random-Parameter Model 86
Market Power 89
Summary 91
Problems 91
5 Strategic Reasons for a Dynamic Estimation Model 93
Supergames 94
Empirical Implications 98
Models of Repeated Games with Trigger Strategies 99
Models of Repeated Games with Continuous Strategies 104
Summary 108
Problems 109
6 Dynamic Games Involving Economic Fundamentals 113
Fundamental Reasons for Dynamics 114
Production Fundamentals 114
Demand Fundamentals 116
A Dynamic Game with a Quasi-Fixed Input 117
Open-Loop Rules 121
Time Consistency of Open-Loop Rules 122
Different Approaches to Obtaining Necessary Conditions 123
Subgame Perfection and Markov Strategies 125
Differentiable Markov Perfect Strategies 127
A Sticky Price Model 128
Multiplicity of Equilibria 130
Selecting a Particular Equilibrium 132
Comparing Open-Loop and Markov Equilibria 132
Markov Perfect Equilibria and Conjectural Variations 135
Empirical Implications 136
Different Ways to Interpret Open-Loop Equilibrium 140
Summary 141
Problems 142
7 Estimation of Dynamic Games Involving Economic Fundamentals 147
Overview of Two Examples 147
The Sticky Price Model 149
The Dynamic Programming Equation 151
The Euler Equation for a Special Case 152
Other Approaches to Deriving the Euler Equation 153
The Estimation Model 154
The General Model 155
An Additional Assumption about Demand 156
Random Demand Shifters 157
Contents ix
Estimation Using the Dynamic Programming Equation 158
A Related Dynamic Oligopoly Model 162
A Dynamic Model with Advertising 163
The Open-Loop Equilibrium to the Advertising Model 164
The Markov Perfect Equilibrium to the Advertising Model 166
The Hybrid Model 168
Estimation of Markov Perfect Equilibria 170
Summary 178
Problems 179
8 Estimation of Market Power Using a Linear-Quadratic Model 181
Assumptions and Definitions 182
The Static Analog 183
The Dynamic Model 184
Implications of the Linear-Quadratic Structure 185
The Recursive Structure of the Solution 186
The Principle of Certainty Equivalence 187
Properties of the Equilibria 189
Equilibrium Conditions Used for Estimation 192
Necessary Conditions for the Open-Loop Equilibrium 193
Necessary Conditions for the Markov Perfect Equilibrium 195
Additional Restrictions and Testing 197
Empirical Applications 198
Coffee 198
Rice 199
Estimation Results 200
Classical Estimates 200
Bayesian Estimates 202
Simulations 204
Summary 205
Appendix 8A: Derivation of Restrictions 206
The Open-Loop Restrictions 206
The Markov Perfect Restrictions 207
Problems 208
9 Estimating Strategies: Theory 211
Related Studies 213
Mixed Strategies 217
Oligopoly Game 219
The Strategies and the Game 219
Econometric Adjustments for the Game 220
The Estimation Model 221
x Contents
Classical Maximum Entropy Formulation for the Multinomial
Problem 222
Incorporating the Sample Information 223
Incorporating the Nonsample, Game-Theoretic Information 227
Properties of the Estimators 229
The GME-Nash Estimator: Hypothesis Testing 229
Summary 232
Appendix 9A: Proof that the GME-Nash Estimator Is Consistent 233
Problems 234
10 Estimating Strategies: Case Studies 235
Airlines Game 235
Airlines Model 236
Estimates 237
Comparing Estimators 241
Hypothesis Tests 243
Sampling and Sensitivity Experiments 245
Airlines Summary 246
Cola Game 247
Cola Model 247
Estimates 249
Basic Statistics and Tests of the Cola Market 252
Lerner Measures of Market Power 257
Effects of the Exogenous Variables 257
Cola Summary 259
Summary 259
Appendix 10A: Expected Lerner Measure 260
Problems 261
Statistical Appendix 263
Bibliography 289
Answers 303
Index 325
|
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| id | DE-604.BV022460398 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T12:55:53Z |
| institution | BVB |
| isbn | 9780521011143 9780521804400 |
| language | English |
| lccn | 2007000000 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015668086 |
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| physical | XI, 340 S. graph. Darst. |
| publishDate | 2007 |
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| publishDateSort | 2007 |
| publisher | Cambridge Univ. Press |
| record_format | marc |
| spellingShingle | Perloff, Jeffrey M. 1950- Karp, Larry S. Golan, Amos Estimating market power and strategies Unternehmen Business enterprises Finance Corporations Finance Accounting Strategic planning Organizational effectiveness Finanzierung (DE-588)4017182-6 gnd |
| subject_GND | (DE-588)4017182-6 |
| title | Estimating market power and strategies |
| title_auth | Estimating market power and strategies |
| title_exact_search | Estimating market power and strategies |
| title_full | Estimating market power and strategies Jeffrey M. Perloff ; Larry S. Karp ; Amos Golan |
| title_fullStr | Estimating market power and strategies Jeffrey M. Perloff ; Larry S. Karp ; Amos Golan |
| title_full_unstemmed | Estimating market power and strategies Jeffrey M. Perloff ; Larry S. Karp ; Amos Golan |
| title_short | Estimating market power and strategies |
| title_sort | estimating market power and strategies |
| topic | Unternehmen Business enterprises Finance Corporations Finance Accounting Strategic planning Organizational effectiveness Finanzierung (DE-588)4017182-6 gnd |
| topic_facet | Unternehmen Business enterprises Finance Corporations Finance Accounting Strategic planning Organizational effectiveness Finanzierung |
| url | http://www.loc.gov/catdir/toc/ecip078/2007000000.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015668086&sequence=000006&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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