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The dynamics of market structure and market size in two health services industries

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  • Timothy Dunne
  • Shawn D. Klimek
  • Mark J. Roberts
  • Yi Xu

Abstract

The relationship between the size of a market and the competitiveness of the market has been of long-standing interest to IO economists. Empirical studies have used the relationship between the size of the geographic market and both the number of firms in the market and the average sales of the firms to draw inferences about the degree of competition in the market. This paper extends this framework to incorporate the analysis of entry and exit flows. A key implication of recent entry and exit models is that current market structure will likely depend upon the history of past participation. The paper explores these issues empirically by examining producer dynamics for two health service industries, dentistry and chiropractic services.

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Bibliographic Info

Paper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 0712.

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Date of creation: 2007
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Handle: RePEc:fip:fedcwp:0712

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Keywords: Markets ; Industrial organization ; Service industries;

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  1. Marcus Asplund & Volker Nocke, 2003. "Firm Turnover in Imperfectly Competitive Markets," PIER Working Paper Archive 03-010, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  2. Steven Berry & Joel Waldfogel, 2003. "Product Quality and Market Size," NBER Working Papers 9675, National Bureau of Economic Research, Inc.
  3. Asplund, Marcus & Sandin, Rickard, 1999. "The Number of Firms and Production Capacity in Relation to Market Size," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 47(1), pages 69-85, March.
  4. Bresnahan, T.F & Reiss, P.C., 1989. "Entry And Competition In Concentrated Markets," Papers, Stanford - Studies in Industry Economics 151, Stanford - Studies in Industry Economics.
  5. Sanghamitra Das & Mark J. Roberts & James R. Tybout, 2007. "Market Entry Costs, Producer Heterogeneity, and Export Dynamics," Econometrica, Econometric Society, Econometric Society, vol. 75(3), pages 837-873, 05.
  6. Ariel Pakes & Michael Ostrovsky & Steve Berry, 2004. "Simple Estimators for the Parameters of Discrete Dynamic Games (with Entry/Exit Examples)," Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research 2036, Harvard - Institute of Economic Research.
  7. Timothy F. Bresnahan & Peter C. Reiss, 1987. "Do Entry Conditions Vary across Markets?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(3), pages 833-882.
  8. Chad Syverson, 2004. "Market Structure and Productivity: A Concrete Example," NBER Working Papers 10501, National Bureau of Economic Research, Inc.
  9. Marcus Asplund & Volker Nocke, 2006. "Firm Turnover in Imperfectly Competitive Markets -super-1," Review of Economic Studies, Oxford University Press, vol. 73(2), pages 295-327.
  10. Pesendorfer, Martin & Schmidt-Dengler, Philipp, 2003. "Identification and Estimation of Dynamic Games," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3965, C.E.P.R. Discussion Papers.
  11. Jeffrey R. Campbell & Hugo Hopenhayn, 2003. "Market size matters," Working Paper Series, Federal Reserve Bank of Chicago WP-03-12, Federal Reserve Bank of Chicago.
  12. Allan Collard-Wexler, 2006. "Plant Turnover and Demand Fluctuations in the Ready-Mix Concrete Industry," Working Papers 06-08, Center for Economic Studies, U.S. Census Bureau.
  13. Ron S Jarmin & Javier Miranda, 2002. "The Longitudinal Business Database," Working Papers 02-17, Center for Economic Studies, U.S. Census Bureau.
  14. Hopenhayn, Hugo A, 1992. "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica, Econometric Society, Econometric Society, vol. 60(5), pages 1127-50, September.
  15. Berry, Steven T, 1992. "Estimation of a Model of Entry in the Airline Industry," Econometrica, Econometric Society, Econometric Society, vol. 60(4), pages 889-917, July.
  16. Berry, Steven & Reiss, Peter, 2007. "Empirical Models of Entry and Market Structure," Handbook of Industrial Organization, Elsevier, Elsevier.
  17. Victor Aguirregabiria & Pedro Mira, 2004. "Sequential Estimation Of Dynamic Discrete Games," Working Papers, CEMFI wp2004_0413, CEMFI.
  18. Timothy F. BRESNAHAN & Peter C.REISS, 1994. "Measuring the Importance of Sunk Costs," Annales d'Economie et de Statistique, ENSAE, issue 34, pages 181-217.
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Cited by:
  1. repec:nbr:nberwo:15348 is not listed on IDEAS
  2. Dunne, Timothy & Klimek, Shawn D. & Roberts, Mark J. & Xu, Daniel Yi, 2013. "Entry, exit, and the determinants of market structure," Working Paper, Federal Reserve Bank of Atlanta 2013-10, Federal Reserve Bank of Atlanta.
  3. repec:cen:wpaper:13-54 is not listed on IDEAS
  4. Daniel H. Weinberg, 2013. "Talent Recruitment and Firm Performance: The Business of Major League Sports," Working Papers 13-54r, Center for Economic Studies, U.S. Census Bureau, revised Feb 2014.
  5. Haltiwanger, John & Jarmin, Ron & Krizan, C.J., 2010. "Mom-and-Pop meet Big-Box: Complements or substitutes?," Journal of Urban Economics, Elsevier, vol. 67(1), pages 116-134, January.

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