Endogenous Product Differentiation Market Size And Prices
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Endogenous Product Differentiation Market Size And Prices
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Author : Shon Ferguson
language : en
Publisher:
Release Date : 2010
Endogenous Product Differentiation Market Size And Prices written by Shon Ferguson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Endogenous Product Differentiation Market Size And Prices
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Author : Shon M. Ferguson
language : en
Publisher:
Release Date : 2015
Endogenous Product Differentiation Market Size And Prices written by Shon M. Ferguson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
This paper provides a framework to understand how market size affects firms' investments in product differentiation in a model of monopolistic competition. The theory proposes that consumers' love of variety makes them more sensitive to product differentiation efforts by firms, which leads to more differentiated products in larger markets. The framework also predicts an inverted -shaped effect of trade liberalization on product differentiation, with trade liberalization leading to more differentiated products when starting from autarky but then leading to less differentiated products as the countries approach free trade.
Product Differentiation In A Market With Endogenous Sequential Entry
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Author : Walter James Lane
language : en
Publisher:
Release Date : 1978
Product Differentiation In A Market With Endogenous Sequential Entry written by Walter James Lane and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Industrial location categories.
The Economic Theory Of Product Differentiation
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Author : John Beath
language : en
Publisher: Cambridge University Press
Release Date : 1991-02-22
The Economic Theory Of Product Differentiation written by John Beath and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-02-22 with Business & Economics categories.
There are few industries in modern market economies that do not manufacture differentiated products. This book provides a systematic explanation and analysis of the widespread prevalence of this important category of products. The authors concentrate on models in which product selection is endogenous. In the first four chapters they consider models that try to predict the level of product differentiation that would emerge in situations of market equilibrium. These market equilibria with differentiated products are characterised and then compared with social welfare optima. Particular attention is paid to the distinction between horizontal and vertical differentiation as well as to the related issues of product quality and durability. This book brings together the most important theoretical contributions to these topics in a succinct and coherent manner. One of its major strengths is the way in which it carefully sets out the basic intuition behind the formal results. It will be useful to advanced undergraduate and graduate students taking courses in industrial economics and microeconomic theory.
Trade And Variety In A Model Of Endogenous Product Differentiation
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Author : Oliver Lorz
language : en
Publisher:
Release Date : 2009
Trade And Variety In A Model Of Endogenous Product Differentiation written by Oliver Lorz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
This paper sets up a model of endogenous product differentiation to analyze the variety effects of international trade. In our model multi-product firms decide not only about the number of varieties they supply but also about the degree of horizontal differentiation between these varieties. Firms can raise the degree of differentiation by investing variety-specific fixed costs. In this setting, we analyze how trade integration, i.e. an increase in market size, influences the number of firms in the market, the number of product varieties supplied by each firm, and the degree of differentiation.
Product Differentiation In A Market With Endogenous Sequential Entry
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Author : Walter James Lane jr.
language : en
Publisher:
Release Date : 1978
Product Differentiation In A Market With Endogenous Sequential Entry written by Walter James Lane jr. and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with categories.
Dynamic Text Based Industry Classifications And Endogenous Product Differentiation
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Author : Gordon M. Phillips
language : en
Publisher:
Release Date : 2010
Dynamic Text Based Industry Classifications And Endogenous Product Differentiation written by Gordon M. Phillips and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Economics categories.
We study how firms differ from their competitors using new dynamic measures of product differentiation based on novel text based analysis of 50,673 product descriptions from firm 10-K statements filed yearly with the Securities Exchange Commission. This year-by-year set of firm product differentiation measures allows us to generate a set of dynamic industry classifications and new measures of industry structure and competition. Competitiveness and market structure measures based on these new classifications better correlate with firm profitability than do classifications based on SIC or NAICs. Using these new dynamic industry classifications, we examine endogenous product differentiation. We show that firms use R & D and advertising to differentiate themselves from competitors and increase their profitability.
Endogenous Horizontal Product Differentiation Under Bertrand And Cournot Competition
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Author : James A. Brander
language : en
Publisher:
Release Date : 2015
Endogenous Horizontal Product Differentiation Under Bertrand And Cournot Competition written by James A. Brander and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Competition categories.
This paper provides a new and simple model of endogenous horizontal product differentiation based on a standard demand structure derived from quadratic utility. One objective of the paper is to explain the "empirical Bertrand paradox" - the failure to observe homogeneous product Bertrand oligopoly, while homogeneous product Cournot oligopoly has significant empirical relevance. In our model firms invest in product differentiation if differentiation investments are sufficiently effective (i.e. if differentiation is not too costly). The threshold level of differentiation effectiveness needed to induce such investments is an order of magnitude less for Bertrand firms than for Cournot firms. Thus there is a wide range over which Bertrand firms differentiate their products but Cournot firms do not. If Cournot firms do choose to differentiate their products, corresponding Bertrand firms always differentiate more. We also establish the important insight that if product differentiation is endogenous Bertrand firms may charge higher prices and earn higher profits than corresponding Cournot firms, in contrast to the general presumption that Bertrand behavior is more competitive than Cournot behavior. Interestingly, consumer surplus increases with differentiation in the Cournot model but, due to sharply increasing prices, decreases with differentiation in the Bertrand model.
Rjvs And Price Collusion Under Endogenous Product Differentiation
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Author : Luca Lambertini
language : en
Publisher:
Release Date : 1997
Rjvs And Price Collusion Under Endogenous Product Differentiation written by Luca Lambertini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.
Text Based Network Industries And Endogenous Product Differentiation
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Author : Gerard Hoberg
language : en
Publisher:
Release Date : 2010
Text Based Network Industries And Endogenous Product Differentiation written by Gerard Hoberg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
We study how firms differ from their competitors using new time-varying measures of product differentiation based on text-based analysis of product descriptions from 50,673 firm 10-K statements filed yearly with the Securities and Exchange Commission. This year-by-year set of product differentiation measures allows us to generate a new set of industries and corresponding new measures of industry competition where firms can have their own distinct set of competitors. Our new sets of industry competitors better explain specific discussion of high competition by management, rivals identified by managers as peer firms and firm characteristics such as profitability and leverage than do existing classifications. We also find evidence that firm R&D and advertising are associated with subsequent differentiation from competitors, consistent with theories of endogenous product differentiation.