Quantitative Techniques for Competition and Antitrust Analysis 8 pdf
Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_1 docx
... expand production keepingoutput of each good in proportion. Source: Authors’rendition of a multiproduct cost functionprovided by Evans and Heckman (1 984 a,b) and Bailey and Friedlander (1 982 ).Economies ... 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: ... products and can be shared. For instance, once the reputationembodied in a brand name has been built, it can be cheaper for a firm to launch othersuccessful products under that same brand.Formally,...
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_2 pptx
... found inFisher (1 980 , 1 986 ) and Finkelstein and Levenbach (1 983 ). For more general econometrics texts, see, for example, Greene (2007) and Wooldridge (2007). And for an advanced and more technical ... (0.0 18) —log.PMolson/ 0.372 0 .80 4 0. 183 0.130 —(0.231) (0.031) (0.022) (0.012) —log.PLabatts/ 0.243 0. 183 0. 588 0.0 28 —(0.034) (0.022) (0.044) (0.019) —log.PMiller/ 0.150 0.130 0.0 28 ... “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...
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_3 pptx
... 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, ... typically come in waves rather than as singleevents. For a critique, see McAfee and Williams (1 988 ). The academic debate onthis topic is polarized, and for our part we think it is easy to miss the important...
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_5 pdf
... 1D 0.91 0 .85 0 .86 1E 0.94 0.97 0.95 0.92 1F 0.93 0.99 0.96 0 .88 0.99 1G 0.11 0.05 0.01 0.33 0.02 0.01 1H 0.57 0.55 0.25 0.16 0.24 0.27 0.17 1I 0.77 0.75 0 .81 0 .86 0 .86 0.79 0.33 ... attractive16Engle and Granger (1 987 ) studied a single “co-integrating” relationship and showed that applyingOLS to a regression of the form YtD ˛XtC "t, where Y and X are integrated (of order 1) and "tis ... thesis and analysis of popcorn prices is provided by Gil and Hartmann (2007).4.3. Natural Experiments 187 OrangeNorth HavenNew HavenBranfordMilfordI95I95I9124315a,bFigure 4 .8. Map of...
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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 (1 989 ) and also the working papers by O’Brien and Wickelgren (2003) and by Katz and ... demand curve.First, following Landes and Posner (1 981 ) and Scheffman and Spiller (1 987 )consider the dominant-firm model. In that model, the dominant firm faced a mar-ket demand DMarket.p/ and ... of “residual” demandfunctions (following Baker and Bresnahan (1 985 , 1 988 )) for market definition inmultiproduct contexts.4.6.3.1 Multiproduct Profit MaximizationConsider a candidate market has...
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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 ... 281 43 28 15.3 10.02 Eastern 257 33 36 12 .8 14.03 United 231 36 10 15.6 4.34 American 207 22 12 10.6 5 .8 5 USAir 201 20 17 10.0 5 .8 6 TWA 174 22 23 12.6 13.27 Braniff 112 10 20 8. 9 17.9 8 ... ManufacturingDunne, Roberts, and Samuelson (1 988 ) (DRS) present a comprehensive descriptionof entry and exit in U.S. manufacturing by using the U.S. Census of Manufacturesbetween 1963 and 1 982 . The census...
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Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_12 potx
... .4; 2/ .5; 1/ 6 (Cartel)1 28. 88 63.39 105 139 188 .54 270 .8 2 28. 88 63.39 105 77.6 48. 993 28. 88 63.394 28. 88 5 28. 88 6 28. 88 Industry profits 173 190 210 217 2 38 270 .8 8.3.2.4 Inferring Marginal ... (Cartel)1 4 .8 5.3 5.9 6.62 7 .87 10.52 4 .8 5.3 5.9 6.62 7 .87 10.53 4 .8 5.3 5.9 6.62 7 .87 10.54 4 .8 5.3 5.9 6.62 7 .87 10.55 4 .8 5.3 5.9 5.77 7 .87 10.56 4 .8 5.3 5.9 5.77 5.95 10.5Table 8. 2. Profits ... 226 2 38 45 71 181 210 90 1 28 181 210 45 710.1 251 259 50 76 201 225 100 137 201 225 50 750.2 282 285 56 83 226 245 113 1 48 226 243 56 80 0.3 322319 64 92 2 58 270 129 162 2 58 267 64 87 0.4...
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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 ... pkDjk wkˇjwj and therefore we can see that the own- and cross-price elasticities of demand dependon both the model parameters and the expenditure sharesÁjkD 8 ˆˆˆ<ˆˆˆ:jk ... bias. 8 STATA, for example, provides the “ivreg” command.9.2. Demand System Estimation: Discrete Choice Models 4779.2.4.2 Independence of Irrelevant AlternativesIn the MNL model, the formula for...
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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 ... scale and scope in production or distribution that allows the firm to 18 See, in particular, the foreclosure models discussed by Salop and Scheffman (1 983 ), Comanor and Frech (1 985 ), Schwartz (1 987 ), ... 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...
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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 ... 3777.3 Conclusions 380 8 Merger Simulation 382 8. 1 Best Practice in Merger Simulation 383 8. 2 Introduction to Unilateral Effects 386 8. 3 General Model for Merger Simulation 401 8. 4 Merger Simulation:...
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