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| Author: | Corts, K. S. |
| Title: | Conduct parameters and the measurement of market power |
| Journal: | Journal of Econometrics
1999 : FEB, VOL. 88:2, p. 227-250 |
| Index terms: | Econometrics Economic theory Oligopoly Markets Methodology Models |
| Freeterms: | Market equilibrium |
| Language: | eng |
| Abstract: | In the paper, a examination is made of a simple version of the conduct parameter method widely used in empirical industrial organization. It is argued that the conduct parameter fails to measure market power accurately. It is shown analytically and with simulations that in a dynamic oligopoly model this mismeasurement can be quite severe. |
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