Measuring competition using the Profit Elasticity: American Sugar Industry, 1890-1914
AbstractThe Profit Elasticity (PE) is a new competition measure introduced in Boone (2008). So far, there was no direct proof that this measure can identify regimes of competition empirically. We�focus on this issue using data of Genesove and Mullin (1998), in which different regimes of competition are identified. We derive a version of PE suitable for this data set. The new competition measure classifies the monopoly/cartel regime correctly as being less competitive than both the price-war regime and break-up of cartel regime.
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Bibliographic InfoPaper provided by CPB Netherlands Bureau for Economic Policy Analysis in its series CPB Discussion Paper with number 163.
Date of creation: Dec 2010
Date of revision:
Other versions of this item:
- J. Boone & M. van Leuvensteijn, 2010. "Measuring competition using the Profit Elasticity: American Suger Industry, 1890 - 1914," Working Papers 10-20, Utrecht School of Economics.
- Boone, J. & Leuvensteijn, M. van, 2010. "Measuring Competition using the Profit Elasticity: American Sugar Industry, 1890-1914," Discussion Paper 2010-124, Tilburg University, Center for Economic Research.
- Boone, J. & Leuvensteijn, M. van, 2010. "Measuring Competition using the Profit Elasticity: American Sugar Industry, 1890-1914," Discussion Paper 2010-043, Tilburg University, Tilburg Law and Economic Center.
- Boone, Jan & van Leuvensteijn, Michiel, 2010. "Measuring competition using the Profit Elasticity: American Sugar Industry, 1890-1914," CEPR Discussion Papers 8159, C.E.P.R. Discussion Papers.
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
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