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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:
DateEvent
2005UNSPECIFIED
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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