search query: @author Domowitz, I. / total: 7
reference: 5 / 7
| Author: | Domowitz, I. Hubbard, R. G. Petersen, B. C. |
| Title: | Oligopoly supergames : some empirical evidence on prices and margins. |
| Journal: | Journal of Industrial Economics
1987 : JUN, VOL. 35:4, p. 379-398 |
| Index terms: | INDUSTRIAL ECONOMICS OLIGOPOLY PRICES STATISTICAL METHODS |
| Language: | eng |
| Abstract: | A panel data study is presented on the behavior of prices and margins of oligopolies in the repeated games. Two supergame models which generate very different predictions about cyclical behavior of prices and margins are analyzed. It is suggested that oligopolies achieve equilibria that more closely resemble a one-shot Cournot- Nash outcome than monopoly. It is found that industries with "high" price-cost margins exhibit cyclical price behavior which is quite different from that of unconcentrated industries. |
SCIMA