Functional Forms and Oligopolistic Models: An Empirical Analysis
This paper attempts to empirically test the sensitivity of the New Empirical Industrial Organization (NEIO) approach to the assumed demand and cost functional forms. Such an approach relies upon oligopolistic models to infer the degree of competition in a market. Unlike prior studies (Genesove and...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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EconJournals
2017-09-01
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| Series: | International Journal of Economics and Financial Issues |
| Online Access: | https://econjournals.com/index.php/ijefi/article/view/5144 |
| _version_ | 1797908129647689728 |
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| author | David Bouras Troy Frank Eric Burgess |
| author_facet | David Bouras Troy Frank Eric Burgess |
| author_sort | David Bouras |
| collection | DOAJ |
| description |
This paper attempts to empirically test the sensitivity of the New Empirical Industrial Organization (NEIO) approach to the assumed demand and cost functional forms. Such an approach relies upon oligopolistic models to infer the degree of competition in a market. Unlike prior studies (Genesove and Mullin, 1998; Clay and Troesken, 2004), this paper focuses on the effect of the assumed cost function on the assessment of market power. Using data from the US catfish industry, the empirical results reveal that the NEIO approach is fairly robust to the assumed demand and cost functional forms.
Keywords: Demand, Cost, NEIO, Market Power.
JEL Classifications: C51, D24, D40
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| first_indexed | 2024-04-10T10:47:42Z |
| format | Article |
| id | doaj.art-7f060969a4614d90a587f140be90c91c |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T10:47:42Z |
| publishDate | 2017-09-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-7f060969a4614d90a587f140be90c91c2023-02-15T16:20:15ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382017-09-0174Functional Forms and Oligopolistic Models: An Empirical AnalysisDavid Bouras0Troy Frank1Eric Burgess2Lincoln UniversityLincoln UniversityLincoln University This paper attempts to empirically test the sensitivity of the New Empirical Industrial Organization (NEIO) approach to the assumed demand and cost functional forms. Such an approach relies upon oligopolistic models to infer the degree of competition in a market. Unlike prior studies (Genesove and Mullin, 1998; Clay and Troesken, 2004), this paper focuses on the effect of the assumed cost function on the assessment of market power. Using data from the US catfish industry, the empirical results reveal that the NEIO approach is fairly robust to the assumed demand and cost functional forms. Keywords: Demand, Cost, NEIO, Market Power. JEL Classifications: C51, D24, D40 https://econjournals.com/index.php/ijefi/article/view/5144 |
| spellingShingle | David Bouras Troy Frank Eric Burgess Functional Forms and Oligopolistic Models: An Empirical Analysis International Journal of Economics and Financial Issues |
| title | Functional Forms and Oligopolistic Models: An Empirical Analysis |
| title_full | Functional Forms and Oligopolistic Models: An Empirical Analysis |
| title_fullStr | Functional Forms and Oligopolistic Models: An Empirical Analysis |
| title_full_unstemmed | Functional Forms and Oligopolistic Models: An Empirical Analysis |
| title_short | Functional Forms and Oligopolistic Models: An Empirical Analysis |
| title_sort | functional forms and oligopolistic models an empirical analysis |
| url | https://econjournals.com/index.php/ijefi/article/view/5144 |
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