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We investigate the nature of price competition among firms that produce differentiated products and compete in markets that are limited in extent. We propose an instrumental variables series estimator for the matrix of cross price response coefficients, demonstrate that our estimator is...
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U.S. beef cattle stocks are among the most periodic time-series in economics. A theory of cattle cycles is constructed …
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approaches in theory and practice: Theory is dominated by quantitative studies that measure the effects of individual factors … is no comprehensive theory of auction prices that combines both perspectives. To fill this gap, the author conducts three … ambiguities between theory and practice and elucidate the role of marketing for auction prices. The result is a conceptual …
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