| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15379 |
| DP15379 Competition in a spatially-differentiated product market with negotiated prices | |
| Walter Beckert; Howard Smith; Yuya Takahashi | |
| 发表日期 | 2020-10-18 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | In many competitive markets the buyer makes a choice between differentiated products and pays a negotiated price. We develop for estimation a discrete-choice model of differentiated product demand, where prices are the outcome of negotiations. The model is consistent with non-cooperative models of bargaining with multiple potential sellers. We show that when the buyer's utility has GEV disturbances the model has a tractable likelihood function for use with transaction-level data giving the selected product and its price for each transaction. We estimate the model using data from the UK brick industry and use it to measure market power and analyze mergers. We measure the contribution of spatial differentiation and ownership concentration to the distribution of market power across individual transactions. In counterfactuals we find that, relative to uniform-pricing, individually-negotiated pricing leads to reductions in mean markups and merger effects, although markups and merger effects increase in a minority of transactions. |
| 主题 | Industrial Organization |
| 关键词 | Individualized pricing Bargaining Price discrimination Spatial differentiation Merger analysis Construction supplies |
| URL | https://cepr.org/publications/dp15379-1 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544362 |
| 推荐引用方式 GB/T 7714 | Walter Beckert,Howard Smith,Yuya Takahashi. DP15379 Competition in a spatially-differentiated product market with negotiated prices. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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