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The Gains and Losses From Industrial Concentration
Peltzman, Sam - 1977
In essence, this paper will try to decompose the concentration-profits relationship into separate concentration-price … the analytical effort is spent here. I review the theory underlying such a relationship, and develop and implement a model … due to cost effects and how much to price effects. The main conclusion is that, while price effects are not absent, the …
Persistent link: https://www.econbiz.de/10012478966
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Inequality and Market Concentration, When Shareholding is More Skewed than Consumption
Gans, Joshua - 2018
Economic theory suggests that monopoly prices hurt consumers but benefit shareholders. But in a world where individuals …
Persistent link: https://www.econbiz.de/10012481042
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Concentration Screens for Horizontal Mergers
Nocke, Volker - 2020
Concentration-based screens for horizontal mergers, such as those employed in the US DOJ and FTC Horizontal Merger Guidelines, play a central role in merger analysis. However, the basis for these screens, in both form and level, remains unclear. We show that there is both a theoretical and an...
Persistent link: https://www.econbiz.de/10012481388
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Professor Zipf goes to Wall Street
Malevergne, Yannick - 2009
The heavy-tailed distribution of firm sizes first discovered by Zipf (1949) is one of the best established empirical facts in economics. We show that it has strong implications for asset pricing. Due to the concentration of the market portfolio when the distribution of the capitalization of...
Persistent link: https://www.econbiz.de/10012463355
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Business Groups and Trade in East Asia : Part 1, Networked Equilibria
Feenstra, Robert C. - 1997
We propose an economic model of business groups that allows for the cooperative behavior of groups of firms, where the number and size of each group is determined endogenously. In this framework, more than one configuration of groups can arise in equilibrium: several different types of business...
Persistent link: https://www.econbiz.de/10012472942
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Exclusive Dealing
Bernheim, B. Douglas - 1996
In this paper, we provide a conceptual framework for understanding the phenomenon of exclusive dealing, and we explore the motivations for and effects of its use. For a broad class of models, we characterize the outcome of a contracting game in which manufacturers may employ exclusive dealing...
Persistent link: https://www.econbiz.de/10012473176
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Debt Concentration and Secondary Markets Prices : A Theoretical and Empirical Analysis
Fernandez, Raquel - 1991
the percentage of a country's debt held by the large banks affects the secondary market price of that country's debt: the … higher the concentration of the debt, the higher the secondary market price. We also show that the free trade of debt in the …
Persistent link: https://www.econbiz.de/10012475361
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The Fall of the Labor Share and the Rise of Superstar Firms
Autor, David - 2017
The fall of labor's share of GDP in the United States and many other countries in recent decades is well documented but its causes remain uncertain. Existing empirical assessments of trends in labor's share typically have relied on industry or macro data, obscuring heterogeneity among firms. In...
Persistent link: https://www.econbiz.de/10012455285
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Concentrating on the Fall of the Labor Share
Autor, David - 2017
The recent fall of labor's share of GDP in numerous countries is well-documented, but its causes are poorly understood. We sketch a "superstar firm" model where industries are increasingly characterized by "winner take most" competition, leading a small number of highly profitable (and low labor...
Persistent link: https://www.econbiz.de/10012455573
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Concentration, Market Power, and Misallocation : The Role of Endogenous Customer Acquisition
Afrouzi, Hassan; Drenik, Andres; Kim, Ryan - National Bureau of Economic Research - 2023
and consumers, we document that a firm's market share is mainly related to its number of customers, while its price …
Persistent link: https://www.econbiz.de/10014322802