Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés 15 pptx
Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_1 docx
... result from a brand’s image.Suppose we face a market with two differentiated goods and the following lineardemand system:Demand for good 1: q1D a1 b11p1C b12p2;Demand for good 2: ... a firm doesnot matter for the value of the firm. Of course, most practitioners and academics believed and believethat the proportions of debt and equity do matter and so for fifty years corporate ... costs as expand production keepingoutput of each good in proportion. Source: Authors’rendition of a multiproduct cost functionprovided by Evans and Heckman (1984a,b) and Bailey and Friedlander (1982).Economies...
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_2 pptx
... inFisher (1980, 1986) and Finkelstein and Levenbach (1983). For more general econometrics texts, see, for example, Greene (2007) and Wooldridge (2007). And for an advanced and more technical but ... “reduced-form” equations. Estimating a reducedform for market prices and quantities will require data on equilibrium prices and quantities in that market as dependent variables and then observed demand ... EquilibriaIn a classical model of supply and demand both prices and volume of sales (quantity)are determined by the intersection of supply and demand. The data we observe arethe outcome of...
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_3 pptx
... caused by movement in costs (which isin addition to any variation in prices explained by movements in the demand curvecaused by the exogenous demand shifting variables X2).Standard errors and ... price and quantity data alone it is impossible to empirically quantify the effect of an increasein prices on the quantity demanded and therefore to extract information such as thedemand elasticity.A ... in matrix form and stack the sets of observations in their groups and note that the resulting matrices Xg and Xhwill satisfy X0gXhD 0 for g ¤ hbecause digdihD 0 (see also, for example,...
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_5 pdf
... produced by a different firm which respectively maximize12 For a critique of the use of price correlation analysis, see, for example, Werden and Froeb (1993a).A response is provided by Sherwin ... variation is useful for estimating demand as well. Theprice and also sales data from this experiment were collected and used in Davis (2002).4.2. Price Level Differences and Price Correlations ... pools (mainly weekly) for over ten years and 70% for over twenty years. The Swift 2 survey found thatover 50% of customers had played for more than twenty years with the brand theyplay with now....
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_6 pdf
... information about demand and in particular the own-price elastic-40This section draws on Harris and Simons (1989) and also the working papers by O’Brien and Wickelgren (2003) and by Katz and ... demand curve.First, following Landes and Posner (1981) and Scheffman and Spiller (1987)consider the dominant-firm model. In that model, the dominant firm faced a mar-ket demand DMarket.p/ and ... collapse to a form which is linear in logs of prices (or other convenientforms for estimation) only under very strong assumptions. Second, note that all cost and demand shift variables for all products...
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_8 pptx
... to allow for firm heterogeneity and Mazzeo (2002) and Seim (2006) extended the analysis and estimation of entrygames to allow for product differentiation. Davis (2006c) allowed for some forms of ... jurisdictions.4See, for example, the work by Sutton (1991), Klepper (1996), and Klepper and Simons (2000), and in the strategy literature see Markides and Geroski (2005) and McGahan (2004).6.1. ... profit and loss statements, while whole organizations have 15 For a somewhat contrary view, see Geroski (2005) and also OFT (2003).5.2. Entry, Exit, and Pricing Power 271geographically and for...
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_12 potx
... firm and market demand for understanding competition. For example,we have seen that demand is important in determining firm behavior such as pricingdecisions and we have also seen that demand ... outside options, and imperfect monitoring. In the theoretical litera-ture, these issues have been tackled, for example, by Green and Porter (1984) and Rotemberg and Saloner (1986) and some empirical ... for j 2=f and also for each firm f:These J equations, together with the J demand equations, provide us with thestructural form for this model. Note that the structural model involves a demandcurve...
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_13 pot
... alternative functional form. For example, Berry et al. (1995) believe that the demand for a type of car will dependon a consumer’s level of income and work with the natural logarithm formulation,vj.y ... elasticity of segmentdemand is 2:6 for premium beer, 2:7 for popular beer, and 2:4 for light beer.These price elasticities could be used as important evidence toward a formal testof the hypothesis ... discussion of this and other demand forms in the context of merger simulation, see Werden and Froeb (2005).462 9. Demand System EstimationSymmetry imposes the restrictions, jkD kj for all j ¤...
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_15 pptx
... 51910.2.1 Informal and Semiformal Analysis of IncentivesInformal quantitative analysis can sometimes be insightful for evaluating the incen-tive for foreclosure. An example of such an analysis ... strategies in the rest of this chapter. Before doing so we brieflydiscuss informal and semiformal quantitative methods for evaluating the incentive for foreclosure.10.2. Measuring the Effect of ... lnGXgD1exp.Iig/; and hg and gare the nesting parameters which are allowed to vary for the differ-ent groups and subgroups. As always, aggregate demands for a given product arecalculated by integrating...
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Quantitative Techniques for Competition and Antitrust Analysis_1 pdf
... small. For Lara, Adrian, and Tristan For SaraThis page intentionally left blank Quantitative Techniques for Competition and Antitrust Analysis 8 1. The Determinants of Market OutcomesDemand at ... since understanding thesekey elements of economic analysis is crucial for an appropriate use of quantitative techniques. 1.1 Demand Functions and Demand ElasticitiesThe analysis of demand is probably ... loans and insurance coveringunemployment, accident, and sickness were complementary only in the sense that the demand for insur-ance was affected by the credit price while the demand for credit...
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