. Depending on the ratio of switching costs to network effects, our model generates convergence to monopoly as well as market … switching costs market sharing is the unique equilibrium and for small switching costs both monopoly and market sharing … equilibria emerge. We also analyze stationary and stable equilibria, where we show that a monopoly outcome is almost inevitable …

variety of different beer styles and brands. Advertising is one means of differentiating a product and increasing prices over … derive firm-specific markups, profit ratios and prices in each year and relate those to their advertising expenditures and … firm size. We are able to show that advertising expenditures are positively correlated to a brewery's markup, profit ratio …