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| Author: | Bresnahan, T. F. Reiss, P. C. |
| Title: | Entry in monopoly markets |
| Journal: | Review of Economic Studies
1990 : OCT, VOL. 57:4, p. 531-554 |
| Index terms: | MARKETS ENTRY CONDITIONS MODELS EQUILIBRIUM ANALYSIS MONOPOLY |
| Language: | eng |
| Abstract: | New empirical models of market concentration are developed from game-theoretic models of entry. The models are constructed from inequality conditions that describe entrants' equilibrium strategies in simultaneous-move and sequential-move games, and use them to study the effects of entry in isolated monopoly markets for new automobiles. From estimates of the market size necessary to support one and two dealers, it is concluded that monopoly dealers do not block the entry of a second dealer. It is also argued that entry does not cause price-cost margins to fall by much. |
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