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. This paper focuses 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. This competition measure correctly classifies the monopoly / cartel regime as being less competitive than both the price was regime and break-up of cartel regime.
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Bibliographic InfoPaper provided by Utrecht School of Economics in its series Working Papers with number 10-20.
Length: 12 pages
Date of creation: Dec 2010
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Other versions of this item:
- Jan Boone & Michiel van Leuvensteijn, 2010. "Measuring competition using the Profit Elasticity: American Sugar Industry, 1890-1914," CPB Discussion Paper 163, CPB Netherlands Bureau for Economic Policy Analysis.
- 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, 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, 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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