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| Author: | Harris, F. H. |
| Title: | Market structure and price-cost performance under endogenous profit risk. |
| Journal: | Journal of Industrial Economics
1986 : SEP, VOL. 35:1, p. 35-59 |
| Index terms: | INDUSTRIAL ECONOMICS MARKET STRUCTURE FINANCIAL THEORY STATISTICAL METHODS ECONOMIC SYSTEMS ADVERTISING |
| Language: | eng |
| Abstract: | The theoretical specification of structure-performance hypotheses in a value-maximizing model of oligopoly decision-making under risk is examined. Price-cost margin,advertising intensity, and non-diversified risk are related to the elements of market structure,cost fixity,output variance,advertising cost, brand introductions,leverage,asset size, and the correlation between firm and market returns. The roles of two previously omitted variables market price elasticity and BETA emerge from the theoretical analysis and are confirmed by the empirical results. |
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