Measuring Market Power in a Dynamic Oligopoly Model : The Dallas-Forth Worth Milk Market Case

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概要

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• We derive a dynamic structural model based on a dynamic supergame model and measure market power for the Dallas-Forth Worth milk market in the U.S. In particular, we analyze the cyclical behavior of firm conduct and evaluate bias in static market-power measures in a unified manner by deriving and estimating a dynamic first-order condition for profit maximization. We find that firm conduct in the Dallas-Forth Worth milk market is countercyclical against demand shocks and expected future cost shocks. We also demonstrate that the conduct parameter in a static model underestimates true market power if firms' behaviors are posited by a dynamic supergame.

• 国際大学の論文

著者

• Kim Donghun

  International Development Program Graduate School Of International Relations International Universit

関連論文

• Measuring Market Power in a Dynamic Oligopoly Model : The Dallas-Forth Worth Milk Market Case
• Market Structure, Cost Pass-Through and Welfare with Differentiated Products

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