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Why do gas prices vary, or towards understanding the micro-structure of competition

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Author Info
Philip Bromiley (Department of Strategic Management, University of Minnesota, 321 19th Avenue South, Minneapolis, MN 55455, USA)
Chris Papenhausen (Department of Strategic Management, University of Minnesota, 321 19th Avenue South, Minneapolis, MN 55455, USA)
Patricia Borchert (Department of Strategic Management, University of Minnesota, 321 19th Avenue South, Minneapolis, MN 55455, USA)
Abstract

Strategic management work on competition considers industry segments or industries for the most part. We argue that real competition occurs at much lower levels of aggregation in many industries: what we term the micro-structure of competition. Micro-structures arise from boundedly rational firms searching imperfectly for business opportunities and boundedly rational consumers searching in a behaviorally determined manner for products and services. This paper lays out the basics of the micro-structural approach to competitive analysis and presents initial propositions from that approach. Copyright © 2002 John Wiley & Sons, Ltd.

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File URL: http://hdl.handle.net/10.1002/mde.1060
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Publisher Info
Article provided by John Wiley & Sons, Ltd. in its journal Managerial and Decision Economics.

Volume (Year): 23 (2002)
Issue (Month): 4-5 ()
Pages: 171-186
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Handle: RePEc:wly:mgtdec:v:23:y:2002:i:4-5:p:171-186

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Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/7976

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  1. Bettman, James R & Luce, Mary Frances & Payne, John W, 1998. "Constructive Consumer Choice Processes," Journal of Consumer Research: An Interdisciplinary Quarterly, University of Chicago Press, vol. 25(3), pages 187-217, December.
  2. Shepard, Andrea, 1990. "Pricing Behavior and Vertical Contracts in Retail Markets," American Economic Review, American Economic Association, vol. 80(2), pages 427-31, May. [Downloadable!] (restricted)
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This page was last updated on 2008-9-25.

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