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

  • Daunfeldt, Sven-Olov

    ()

    (The Swedish Retail Institute (HUI))

  • Orth, Matilda

    ()

    (School of Economics and Commercial law, Gothenburg University)

  • Rudholm, Niklas

    ()

    (The Swedish Retail Institute (HUI))

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://econpapers.repec.org/article/kapjincot/v_3a10_3ay_3a2010_3ai_3a3_3ap_3a373-387.htm
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Paper provided by HUI Research in its series HUI Working Papers with number 1.

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Length: 27 pages
Date of creation: 22 Feb 2007
Date of revision:
Publication status: Published as Daunfeldt, Sven-Olov, Matilda Orth and Niklas Rudholm, 'Entry into Local Retail Food Markets in Sweden: A Real-Options Approach' in Journal of Industry, Competition and Trade, 2010, pages 15.
Handle: RePEc:hhs:huiwps:0001
Contact details of provider: Postal: HUI Research, Regeringsgatan 60, 103 29 Stockholm, Sweden
Phone: +46 (0)8 762 72 80
Fax: +46 (0)8 679 76 06
Web page: http://www.hui.se/
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  1. de Juan, Rebeca, 2003. "The independent submarkets model: an application to the Spanish retail banking market," International Journal of Industrial Organization, Elsevier, vol. 21(10), pages 1461-1487, December.
  2. Daunfeldt, Sven-Olov & Rudholm, Niklas & Bergström, Fredrik, 2005. "Entry into Swedish Retail and Wholesale Trade Markets," HUI Working Papers 2, HUI Research.
  3. John Sutton, 1997. "Gibrat's Legacy," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 40-59, March.
  4. Asplund, Marcus & Friberg, Richard, 2002. " Food Prices and Market Structure in Sweden," Scandinavian Journal of Economics, Wiley Blackwell, vol. 104(4), pages 547-66, December.
  5. Fritsch, Michael & Falck, Oliver, . "New firm formation by industry over space and time: a multi-level analysis for Germany," Chapters in Economics, University of Munich, Department of Economics.
  6. McDonald, Robert & Siegel, Daniel, 1986. "The Value of Waiting to Invest," The Quarterly Journal of Economics, MIT Press, vol. 101(4), pages 707-27, November.
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