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A New Method for Estimating Market Power with an Application to Norwegian Sawmilling

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  • Subal Kumbhakar
  • Sjur Baardsen
  • Gudbrand Lien

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Suggested Citation

  • Subal Kumbhakar & Sjur Baardsen & Gudbrand Lien, 2012. "A New Method for Estimating Market Power with an Application to Norwegian Sawmilling," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 40(2), pages 109-129, March.
    • Handle: RePEc:kap:revind:v:40:y:2012:i:2:p:109-129
    DOI: 10.1007/s11151-012-9339-7
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    References listed on IDEAS

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    1. Berger, Allen N. & Mester, Loretta J., 2003. "Explaining the dramatic changes in performance of US banks: technological change, deregulation, and dynamic changes in competition," Journal of Financial Intermediation, Elsevier, vol. 12(1), pages 57-95, January.
    2. Morrison, Catherine J, 1992. "Markups in U.S. and Japanese Manufacturing: A Short-Run Econometric Analysis," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(1), pages 51-63, January.
    3. Perloff,Jeffrey M. & Karp,Larry S. & Golan,Amos, 2007. "Estimating Market Power and Strategies," Cambridge Books, Cambridge University Press, number 9780521011143.
    4. Jeffrey Perloff & Edward Shen, 2012. "Collinearity in Linear Structural Models of Market Power," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 40(2), pages 131-138, March.
    5. Berger, Allen N. & Mester, Loretta J., 1997. "Inside the black box: What explains differences in the efficiencies of financial institutions?," Journal of Banking & Finance, Elsevier, vol. 21(7), pages 895-947, July.
    6. Pindyck, Robert S, 1985. "The Measurement of Monopoly Power in Dynamic Markets," Journal of Law and Economics, University of Chicago Press, vol. 28(1), pages 193-222, April.
    7. Kumbhakar, Subal C., 2011. "Estimation of production technology when the objective is to maximize return to the outlay," European Journal of Operational Research, Elsevier, vol. 208(2), pages 170-176, January.
    8. Catherine D. Wolfram, 1999. "Measuring Duopoly Power in the British Electricity Spot Market," American Economic Review, American Economic Association, vol. 89(4), pages 805-826, September.
    9. Jondrow, James & Knox Lovell, C. A. & Materov, Ivan S. & Schmidt, Peter, 1982. "On the estimation of technical inefficiency in the stochastic frontier production function model," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 233-238, August.
    10. Bresnahan, Timothy F., 1989. "Empirical studies of industries with market power," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 17, pages 1011-1057, Elsevier.
    11. Victor J. Tremblay & Carol Horton Tremblay, 2012. "New Perspectives on Industrial Organization," Springer Texts in Business and Economics, Springer, edition 127, number 978-1-4614-3241-8, October.
    12. R. Schmalensee & R. Willig (ed.), 1989. "Handbook of Industrial Organization," Handbook of Industrial Organization, Elsevier, edition 1, volume 2, number 2.
    13. A. P. Lerner, 1934. "The Concept of Monopoly and the Measurement of Monopoly Power," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 1(3), pages 157-175.
    14. Daigyo Seo & Allen Featherstone & Dennis Weisman & Yuan Gao, 2010. "Market Consolidation and Productivity Growth in U.S. Wireline Telecommunications: Stochastic Frontier Analysis vs. Malmquist Index," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 36(3), pages 271-294, May.
    15. R. Schmalensee & R. Willig (ed.), 1989. "Handbook of Industrial Organization," Handbook of Industrial Organization, Elsevier, edition 1, volume 1, number 1.
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    More about this item

    Keywords

    Input distance function; Market failure; Market power; Sawmilling; Stochastic frontier; L11; L12; L73; D22; C54;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • L73 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Forest Products
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling

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