| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5314 |
| 来源ID | Working Paper 5314 |
| Validating the Conjectural Variation Method: The Sugar Industry, 1890- 1914 | |
| David Genesove; Wallace P. Mullin | |
| 发表日期 | 1995-10-01 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | The Conjectural Variations (CV) methodology uses the responsiveness of price to cost determinants under differing demand conditions to infer market power and cost. It thus substitutes demand information for complete cost information. In this paper we use the American sugar refining industry at the turn of the century to assess the efficacy of the CV approach. We do so by comparing direct measures of marginal cost and price-cost markups with the indirect estimates obtained from the CV method. We find that the CV method performs reasonably well. It yields estimates of industry conduct that are close to the direct measure we derive from full cost information, and robust to the choice of the functional form of demand. The conduct parameter is underestimated, but the deviation is minimal in our context. The CV methodology does a better job of detecting differences in conduct arising from different structural regimes (corresponding to the aftermath of entry), but only when the researcher imposes the (a priori known) restriction of cost stability. |
| 主题 | Econometrics ; Estimation Methods |
| URL | https://www.nber.org/papers/w5314 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/562766 |
| 推荐引用方式 GB/T 7714 | David Genesove,Wallace P. Mullin. Validating the Conjectural Variation Method: The Sugar Industry, 1890- 1914. 1995. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w5314.pdf（588KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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