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Market structure and entry: Where's the beef?
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UNSPECIFIED (2005) Market structure and entry: Where's the beef? RAND JOURNAL OF ECONOMICS, 36 (3). pp. 680-699.
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Abstract
We study the effects of market structure on entry using data from the U.K.. fast food (counterservice burger) industry over the years 1991-1995, for which the market can be characterized as a duopoly. We use both reduced-form estimations and a structural model, controlling for market-specific time-invariant unobservables. For both firms, we find that market structure matters greatly. Specifically, rival presence increases the probability of entry by increasing expected market size, whereas variable profits per customer are increasing in the number of own outlets. Our results suggest the presence of product differentiation, firm learning, and market power.
| Item Type: | Journal Article | ||||
|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HC Economic History and Conditions | ||||
| Journal or Publication Title: | RAND JOURNAL OF ECONOMICS | ||||
| Publisher: | RAND | ||||
| ISSN: | 0741-6261 | ||||
| Official Date: | 2005 | ||||
| Dates: |
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| Volume: | 36 | ||||
| Number: | 3 | ||||
| Number of Pages: | 20 | ||||
| Page Range: | pp. 680-699 | ||||
| Publication Status: | Published |
Data sourced from Thomson Reuters' Web of Knowledge
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