Store Characteristics in Retail Oligopoly
AbstractI use a consumer choice model for the British supermarket industry to compare the incentives of firms, selecting store characteristics, with the interests of consumers. I perform a series of counterfactual changes to store size and location and rank the alternatives by gains per unit of fixed cost. Jointly, firms gain most from large stores, which increase total consumer expenditure. Individually, however, firm incentives are strongly influenced by business-stealing effects, resulting in a close agreement with consumers, who value middle-sized stores and distance-reducing relocations. These individual firm incentives provide little consumer-protection justification for recent size and location regulations.
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Bibliographic InfoArticle provided by The RAND Corporation in its journal RAND Journal of Economics.
Volume (Year): 37 (2006)
Issue (Month): 2 (Summer)
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- Matthijs R. Wildenbeest, 2011.
"An empirical model of search with vertically differentiated products,"
RAND Journal of Economics,
RAND Corporation, vol. 42(4), pages 729-757, December.
- Matthijs R Wildenbeest, 2009. "An Empirical Model of Search with Vertically Differentiated Products," Working Papers 2009-01, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
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