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Testable implications for the Bresnahan-Lau model of market competition

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  • Laurens CHERCHYE
  • Thomas DEMUYNCK
  • Bram DE ROCK

Abstract

We derive necessary and sufficient testable implications on the reduced form price and quantity functions for the Bresnahan-Lau model of market competition. The conditions are twofold. A first condition relates to the fact that the reduced form price function should correspond to an inverse demand function. The second condition captures that the degree of competition must be invariant to changes in the exogenous variables.

Suggested Citation

  • Laurens CHERCHYE & Thomas DEMUYNCK & Bram DE ROCK, 2010. "Testable implications for the Bresnahan-Lau model of market competition," Working Papers of Department of Economics, Leuven ces10.11, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
    • Handle: RePEc:ete:ceswps:ces10.11
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