Price and Nonprice Competition with Endogenous Market Structure
AbstractThis paper examines the effect of the intensity of short-run price competition and other exogenous variables that affect gross profit margins-such as the degree of product differentiation and the consumers' responsiveness to quality-on market structure and on advertising and R&D expenditure. A key result is that more intense short-run competition can lead to lower concentration in industries with high advertising or R&D intensity, unlike exogenous-sunk-cost industries. Also, price competition has a negative effect on advertising or R&D expenditure. A case study is also presented, which is consistent with the theoretical results of the paper. Copyright (c) 2000 Massachusetts Institute of Technology.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Economics & Management Strategy.
Volume (Year): 9 (2000)
Issue (Month): 1 (03)
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Web page: http://www.kellogg.northwestern.edu/research/journals/JEMS/
Other versions of this item:
- George Symeonidis, 1999. "Price and non-price competition with endogenous market structure," Economics Discussion Papers 501, University of Essex, Department of Economics.
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- Symeonidis, George, 2000.
"Price Competition and Market Structure: The Impact of Cartel Policy on Concentration in the UK,"
Journal of Industrial Economics,
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- George Symeonidis, 2009. "Downstream merger and welfare in a bilateral oligopoly," Economics Discussion Papers 671, University of Essex, Department of Economics.
- Vives, Xavier, 2005.
"Innovation and Competitive Pressure,"
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- Stefan Buehler & Christian Kaiser & Franz Jaeger, 2004.
"Competition Policy and Exit Rates: Evidence from Switzerland,"
0405, University of Zurich, Socioeconomic Institute, revised Apr 2005.
- Buehler Stefan & Kaiser Christian & Jaeger Franz, 2005. "Competition Policy and Exit Rates: Evidence from Switzerland," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 4(1), pages 1-30, November.
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