G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15379
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 markets the buyer pays an individually-negotiated price. Theoretically, relative to uniform-pricing, this has an ambiguous impact on market power and the effects of merger. To analyze competition in the UK brick industry—where individually-negotiated pricing is used, and the market is highly concentrated—we develop a model of negotiated pricing and discrete-choice demand which permits alternative specifications for how the buyer’s runner-up product affects price negotiations. We derive a likelihood for observed choices and prices and estimate the model using transaction-level data. We use the model to reject the hypothesis of price-taking buyers, calculate the distribution of markups, and measure the effect on markups of multi-product ownership and buyer location. A counterfactual policy of uniform pricing increases average markups by about one-third, harms most buyers, and magnifies the price-increasing effect of merger. Average markups increase because uniform pricing is intrinsically less competitive and because it imposes buyer price-taking.
主题Industrial Organization
关键词Individualized pricing Bargaining Price discrimination Spatial differentiation Merger analysis Construction supplies
URLhttps://cepr.org/publications/dp15379
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/544363
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.
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