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Merger control in differentiated product industries

Mariuzzo, Franco; Walsh, Patrick Paul; Whelan, Ciara - 2005

Thresholds defined on the level and change in the HHI (Herfindahl-Hirschmann Index) applied to market shares seem to be the main instrument to select notified mergers for investigation in both the EU and US. We question the use of such a selection rule in differentiated products industries. We...

Persistent link: https://www.econbiz.de/10010293879

Nonparametric Estimation of the Costs of Non-Sequential Search

Moraga-Gonzalez, Jose Luis; Sandor, Zsolt; Wildenbeest, … - 2008

We study a consumer non-sequential search oligopoly model with search cost heterogeneity. We first prove that an equilibrium in mixed strategies always exists. We then examine the nonparametric identification and estimation of the costs of search. We find that the sequence of points on the...

Persistent link: https://www.econbiz.de/10010325345

Consumer Search and Oligopolistic Pricing: An Empirical Investigation

Janssen, Maarten C.W.; Moraga-Gonzalez, Jose Luis; … - 2004

This paper presents an empirical examination of oligopoly pricingand consumer search. The theoretical model allows for sequential andnon-sequential search and using the theoretical restrictions firm andconsumer behavior impose on the data we study the empirical validity of themodels. Two...

Persistent link: https://www.econbiz.de/10010325459

Search Costs, Demand-Side Economies and the Incentives to merge under Bertrand Competition

Moraga-Gonzalez, Jose L.; Petrikaite, Vaiva - 2012

This paper studies the incentives to merge in a Bertrand competition model where firms sell differentiatedproducts and consumers search for satisfactory deals. In the pre-merger symmetricequilibrium, the probability that a firm is the next one to be visited by a consumer is equal acrossfirms not...

Persistent link: https://www.econbiz.de/10010326167

Consumer search and oligopolistic pricing : an empirical investigation

Janssen, Maarten C. W.; Moraga-González, José Luis; … - 2004

This paper presents an empirical examination of oligopoly pricing and consumer search. The theoretical model allows for sequential and non-sequential search and, using the theoretical restrictions firm and consumer behavior impose on the data, we study the empirical validity of the models. Two...

Persistent link: https://www.econbiz.de/10010261272

Preference for variety

Kaiser, Karen; Schwabe, Rainer - 2011

propose testable axioms which characterize preference for variety, and provide a representation theorem. We go on to … illustrate the potential effects of preference for variety in a model of retailing. Consumer welfare may be decreasing in the … competitiveness of the retailing sector as competition eliminates the scope for retailers to offer variety. Mainstream consumers with …

Persistent link: https://www.econbiz.de/10010322612

EU merger control in differentiated product industries

Mariuzzo, Franco; Walsh, Patrick Paul; Whelan, Ciara - 2004

EU Merger Control Regulation No 4064/89 tended to rely on a dominance test, based on the market share of undertakings, to indicate the level and potential changes in market power. The use of such in differentiated product industries is questionable. New EC Merger Regulation No 139/2004...

Persistent link: https://www.econbiz.de/10010261066

Price response, asymmetric information, and competition

Sherman, Joshua; Weiss, Avi - 2012

We compare predictions from a theoretical model based on the structure of the main outdoor retail market in Jerusalem with the results of an empirical analysis of price response to changes in cost. We find that firms without adjacent competition exhibit both upward and downward price rigidity,...

Persistent link: https://www.econbiz.de/10010336014

Business as usual: A consumer search theory of sticky prices and asymmetric price adjustment

Cabral, Luís; Fishman, Arthur - 2010

Empirical evidence suggests that prices are sticky with respect to cost changes. Moreover, prices respond more rapidly to cost increases than to cost decreases. We develop a search theoretic model which is consistent with this evidence and allows for additional testable predictions. Our results...

Persistent link: https://www.econbiz.de/10010336044

Advertising and Consumer Search in a Duopoly Model

Janssen, Maarten C.W.; Non, Mariëlle C. - 2005

We consider a duopoly in a homogenous goods market where part of the consumers are ex ante uninformed about prices. Information can come through two different channels: advertising and sequential consumer search. We arrive at the following results. First, there is no monotone relationship...

Persistent link: https://www.econbiz.de/10010325593

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