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| Author: | Pereira, P. |
| Title: | Market power, cost reduction and consumer search |
| Journal: | International Journal of Industrial Organization
2001 : NOV, VOL. 19:9, p. 1457-1473 |
| Index terms: | CONSUMER BEHAVIOUR COST REDUCTION |
| Freeterms: | MARKET POWER |
| Language: | eng |
| Abstract: | This paper reconciles two opposing views in the R&D and agency literatures about how market power influences incentives to reduce costs. The author develops a model, where consumers search for prices, firms set prices, and technology is determined endogenously through stochastic investment, to show that the relation between market power and cost reduction depends on the context. |
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