An Empirical Model of Pricing, Market Share and Market Conduct: An Application to Import Competition in US Manufacturing
AbstractIn this paper, the authors set out a new empirical model of pricing, market share, and market conduct for a differentiated products industry. The model exhibits the property of a variable elasticity of firm demand: as a firm's market share increases, it faces increasingly inelastic demand. Price/cost margins therefore increase as market share rises. Market conduct is described using conjectural variations. The model has a flexible functional formulation and is particularly suitable for time-series estimation. The authors illustrate its use by investigating the structure of market competition in pricing strategies between domestic and importing firms in different sectors of U.S. industry during the 1980s. Copyright 1998 by Blackwell Publishers Ltd and The Victoria University of Manchester
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Bibliographic InfoArticle provided by University of Manchester in its journal The Manchester School of Economic & Social Studies.
Volume (Year): 66 (1998)
Issue (Month): 2 (March)
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Web page: http://www.socialsciences.manchester.ac.uk/disciplines/economics/
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- Olive, Michael, 2004. "Pricing behaviour in Japanese manufacturing: a comparative study," Japan and the World Economy, Elsevier, vol. 16(4), pages 417-429, December.
- Coutts, K. & Norman, N.R., 2001.
"Global Influences on UK Manufacturing Prices 1970-2000,"
Department of Economics - Working Papers Series
819, The University of Melbourne.
- Coutts, Ken & Norman, Neville R., 2007. "Global influences on UK manufacturing prices: 1970-2000," European Economic Review, Elsevier, vol. 51(5), pages 1205-1221, July.
- Sophocles N. Brissimis & Theodora S. Kosma, 2006. "Market Conduct, Price Interdependence and Exchange Rate Pass-Through," Working Papers 51, Bank of Greece.
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