Pricing, concentration & public policy: The U.S. automobile market

Autor:	Sudhakar Raju, Michael M. Tansey
Rok vydání:	2017
Předmět:	Economics and Econometrics 05 social sciences Public policy Monetary economics Cournot competition Competitive equilibrium Market structure Market economy 0502 economics and business Automobile market Economics 050207 economics Monopoly 050205 econometrics
Zdroj:	Journal of Policy Modeling. 39:762-774
ISSN:	0161-8938
DOI:	10.1016/j.jpolmod.2017.07.004
Popis:	The U.S. automobile market experienced dramatic changes in concentration over the six decades after World War II. In addition to dynamic changes in market structure, the U.S. automobile market experienced significant public policy changes in the form of price and export controls. This experience provides a unique opportunity to test the effect of changing concentration on prices and the effectiveness of controls in a highly visible, dynamic industry. We identify a threshold concentration level below which prices converge to competitive equilibrium. Above this threshold, pricing is essentially consistent with monopoly pricing. Price controls appear to have reduced automobile prices while export controls had little discernible overall effect.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::b02e9b4fc056022c5f2a7898af486e27 https://doi.org/10.1016/j.jpolmod.2017.07.004 Zobrazit plný text záznamu Full Text from ScienceDirect