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Entry into Local Retail Food Markets in Sweden: A Real-Options Approach

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Author Info
Daunfeldt, Sven-Olov () (The Swedish Research Institute of Trade (HUI))
Orth, Matilda () (Department of Economics, School of Economics and Commercial Law, Göteborg University)
Rudholm, Niklas () (Department of Economics, Umeå University)

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Abstract

A real-options approach was used, incorporating uncertainty and irreversibility of investments, to study the number of stores entering the Swedish retail food market during the period 1994-2002. It was found that uncertainty affected the entry-decision. Entry was less frequent in highly concentrated local retail food-markets characterized by a high degree of uncertainty, whereas higher profit opportunities seem to have increased the probability of entry.

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File URL: http://hdl.handle.net/2077/2749
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Publisher Info
Paper provided by Göteborg University, Department of Economics in its series Working Papers in Economics with number 170.

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Length: 27 pages
Date of creation: 17 May 2005
Date of revision:
Handle: RePEc:hhs:gunwpe:0170

Contact details of provider:
Postal: Department of Economics, School of Business, Economics and Law, Göteborg University Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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Related research
Keywords: Real options; uncertainty; retail food; entry; negative binomial regression;

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Find related papers by JEL classification:
L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce

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  1. Daunfeldt, Sven-Olov & Rudholm, Niklas, 2006. "Revenues as a Proxy for Profits: A Cautionary Note," HUI Working Papers 5, The Swedish Retail Institute (HUI). [Downloadable!]
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