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Ein einfaches Verfahren zur Berücksichtigung heterogener Preisbildung und Marktmacht auf unvollkommenen Gütermärkten in Produktivitätsschätzungen

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  • Carstensen, Vivian
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    Abstract

    This paper integrates a generalized monopolistic competition model that states consumer preferences for goods' variety and, hence, heterogeneous price setting behavior into the familiar Cobb-Douglas production function approach. Neglecting the fact of incomplete markets and heterogeneous price setting leads to biased estimates of factor elasticities. Nevertheless, the respective bias can be eliminated, if two additional variable are considered in the production function: a) production volume at the sector level and b) the firm's market share. This method is applied to the manufacturing sector. In general and for consumer goods industries, the empirical results suggest the application of the developed method into productivity estimates.

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    File URL: http://diskussionspapiere.wiwi.uni-hannover.de/pdf_bib/dp-273.pdf
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    Bibliographic Info

    Paper provided by Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät in its series Hannover Economic Papers (HEP) with number dp-273.

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    Length: 19 pages
    Date of creation: Feb 2003
    Date of revision:
    Handle: RePEc:han:dpaper:dp-273

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    1. Jacques Mairesse & Bronwyn H. Hall & Benoit Mulkay, 1999. "Firm-Level Investment in France and the United States: An Exploration of What We Have Learned in Twenty Years," NBER Working Papers 7437, National Bureau of Economic Research, Inc.
    2. Dixit, Avinash K & Stiglitz, Joseph E, 1975. "Monopolistic Competition and Optimum Product Diversity," The Warwick Economics Research Paper Series (TWERPS) 64, University of Warwick, Department of Economics.
    3. George S Olley & Ariel Pakes, 1992. "The Dynamics Of Productivity In The Telecommunications Equipment Industry," Working Papers 92-2, Center for Economic Studies, U.S. Census Bureau.
    4. Klette, Tor Jakob & Griliches, Zvi, 1996. "The Inconsistency of Common Scale Estimators When Output Prices Are Unobserved and Endogenous," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 11(4), pages 343-61, July-Aug..
    5. Tor Jakob Klette, 1994. "Estimating Price- Cost Margins and Scale Economies from a Panel of Microdata," Discussion Papers 130, Research Department of Statistics Norway.
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    Cited by:
    1. Carstensen, Vivian, 2003. "Die organisationelle Revolution: Lassen sich die postulierten Produktivitätseffekte empirisch belegen?," Hannover Economic Papers (HEP) dp-277, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.

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