Market structure and entry in fast food
Sault, Joanne E., Toivanen, Otto and Waterson, Michael, 1950- (2003) Market structure and entry in fast food. Discussion Paper. University of Warwick, Department of Economics, Coventry.
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One of the phenomena of the twentieth century, chainstores, are remarkably little studied by economists. Amongst open questions are the following: What factors influence the pattern of their openings? Does the spread of one constrain others having broadly the same retail offer? Do they locate close to competitors? To answer such questions, one must examine a time path of development- put simply one must observe actual entry. This is precisely what is done in a series of papers (Toivanen and Waterson, 2000; 2001; Sault, Toivanen and Waterson -hereafter STW, 2002; forthcoming) we are working on concerning the spread of restaurant outlets in the UK. This paper sketches the main elements of our program, then examines a particular issue, the micro-geography of location, in detail.
|Item Type:||Working or Discussion Paper (Discussion Paper)|
|Subjects:||H Social Sciences > HC Economic History and Conditions|
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Fast food restaurants -- Great Britain, Food industry and trade -- Great Britain, Chain restaurants -- Great Britain|
|Series Name:||Warwick economic research papers|
|Publisher:||University of Warwick, Department of Economics|
|Place of Publication:||Coventry|
|Number of Pages:||14|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
|Funder:||Economic and Social Research Council (Great Britain) (ESRC)|
|Grant number:||R000238402 (ESRC)|
|References:||Bresnahan, T.F. and Reiss, Peter C. Entry and Competition in Concentrated Markets, Journal of Political Economy, 1991, 99, pp.977-1009. Irmen, Andreas and Thisse, Jacques-François. Competition in multi-characteristics spaces: Hotelling was almost right, Journal of Economic Theory, 1998, 78, pp.76-102. Kalnins, Arturs and Chung, Wilbur. Firm heterogeneity, market heterogeneity and agglomeration, Mimeo, Marshall School of Business, University of Southern California, 2001. Sault, Joanne; Toivanen, Otto, and Waterson, Michael. Fast Food - the early years: Geography and the growth of a chain-store in the UK, University of Warwick Working Paper 655, September 2002. Sault, Joanne; Toivanen, Otto, and Waterson, Michael. The choice between franchising and managing outlets- a competing risks model. University of Warwick Working Paper. Forthcoming. Schmalensee, Richard, Entry deterrence in the ready-to-eat breakfast cereal industry, Bell Journal of Economics, 1978, 9, pp.305-327. Shaked, Avner and Sutton, John. Multiproduct Firms and Market Structure, RAND Journal of Economics, 1990, 21, pp.45-62. Thomadsen, Raphael. Price Competition in Industries with Geographic Differentiation: The Case of Fast Food, mimeo, Columbia Business School, 2000. Toivanen, Otto, and Waterson, Michael. Empirical Research on Discrete Choice Game Theory Models of Entry: An Illustration, European Economic Review, 2000, 44, pp.985- 992. Toivanen, Otto and Waterson, Michael. Market Structure and Entry: Where's the Beef?, University of Warwick Working Paper no. 593, January 2001.|
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