Three Essays On The American Automobile Oligopoly
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Three Essays on the American Automobile Oligopoly
Author | : Timothy F. Bresnahan |
Publisher | : |
Total Pages | : 107 |
Release | : 1980 |
Genre | : Automobile industry and trade |
ISBN | : |
The Effects of Oligopoly in the Us Automobile Sector on Pricing and Development
Author | : Ricardo Falter |
Publisher | : GRIN Verlag |
Total Pages | : 29 |
Release | : 2011-08 |
Genre | : Business & Economics |
ISBN | : 3640963334 |
Seminar paper from the year 2010 in the subject Business economics - Trade and Distribution, Maastricht University, language: English, abstract: The US automobile industry is a good example of an oligopoly. It consists mainly of three major firms, General Motors (GM), Ford, and Chrysler. The influence of this oligopoly can be seen in the prices and the development and introduction of new car models into the American car market. Extensive work has been done on the field of collusive behaviour in the US automobile market and moreover the introduction of the small car in the 1950s shows how the firms collude when it comes to the introduction of a new car.
Three Essays on Price Competition in Oligopoly
Author | : Shyh-Fang Ueng |
Publisher | : |
Total Pages | : 118 |
Release | : 1992 |
Genre | : Competition |
ISBN | : |
This research investigates three issues related to the economic performance of oligopolistic markets where firms produce differentiated products and compete in prices. First of all, this dissertation uses a Markov Perfect Equilibrium approach with fixed periods of commitment of actions to answer the question of what prices a duopolists will charge in equilibrium if they produce horizontally differentiated products, move alternatingly, and compete in prices forever. It is found that firms charge prices which are higher than Nash equilibrium prices but lower than the fully collusive equilibrium prices. Also, contrasted with the Nash equilibrium of the one-shot constituent game, the firm having the significantly higher demand responsiveness to its own price always charges a lower price than the other firm does although it has higher marginal cost. The dissertation then proceeds to study whether a firm can overcome its cost disadvantage by upgrading its product over the rival's, and if so, whether there exists a profit-division which will induce the low cost firm and the high cost firm to collude and no one has an incentive to cheat. The results show that (1) the ability of upgrading the product over the rival's can allow a high cost firm to earn higher profit than a cost advantaged low cost firm; (2) there exists at least one profit-division which can sustain full collusion; and (3) in the collusive equilibrium firms enlarge their quality differences to alleviate the price tension between their products. Finally, this work investigates the welfare effect of mergers which occur in an oligopolistic industry where firms produce differentiated products. It is shown that for the merger to be socially beneficial, the number of the merging firms must be less than the total number of firms in the industry minus the ratio of the products' own elasticity to cross elasticity. The analysis indicates that the welfare effect of a merger of a specific size depends on the substitutability among products of the industry.
Economics in a Changing World
Author | : Beth Allen |
Publisher | : Springer |
Total Pages | : 403 |
Release | : 1997-02-12 |
Genre | : Business & Economics |
ISBN | : 1349251682 |
This volume contains papers in the broadly defined area of microeconomic theory presented to the International Economic Association Tenth World Congress in Moscow. A wide range of topics is represented - from the foundations of economic choice through strategic behaviour, multiple market interactions, and asymmetric information to applications in such diverse areas as the internal organization of firms, patent policy, product markets, and labour supply, finishing with a piece on the history of oligopoly theory. The collection strongly suggests that microeconomic theory is indeed thriving as a fascinating and useful central part of economic science.
The Journal of Industrial Economics
Author | : |
Publisher | : |
Total Pages | : 668 |
Release | : 1987 |
Genre | : Economics |
ISBN | : |
The Journal was founded to promote and publish the analysis of modern industry. It publishes innovative work on industrial organization, functioning of markets, behaviour of firms and policy. It covers all areas of industrial economics including: organization of industry and applied oligopoly theory; product differentiation and technical change; theory of the firm and internal organization; regulation, monopoly, merger and technology policy.
A Financial History of the American Automobile Industry
Author | : Lawrence Howard Seltzer |
Publisher | : A. M. Kelley |
Total Pages | : 336 |
Release | : 1928 |
Genre | : Business & Economics |
ISBN | : |
Comeback
Author | : Paul Ingrassia |
Publisher | : Simon and Schuster |
Total Pages | : 536 |
Release | : 2013-05-14 |
Genre | : Business & Economics |
ISBN | : 1476737479 |
In Comeback, Pulitzer Prize-winners Paul Ingrassia and Joseph B. White take us to the boardrooms, the executive offices, and the shop floors of the auto business to reconstruct, in riveting detail, how America's premier industry stumbled, fell, and picked itself up again. The story begins in 1982, when Honda started building cars in Marysville, Ohio, and the entire U.S. car industry seemed to be on the brink of extinction. It ends just over a decade later, with a remarkable turn of the tables, as Japan's car industry falters and America's Big Three emerge as formidable global competitors. Comeback is a story propelled by larger-than-life characters -- Lee Iacocca, Henry Ford II, Don Petersen, Roger Smith, among many others -- and their greed, pride, and sheer refusal to face facts. But it is also a story full of dedicated, unlikely heroes who struggled to make the Big Three change before it was too late.
Handbook of Industrial Organization
Author | : Richard Schmalensee |
Publisher | : |
Total Pages | : 642 |
Release | : 1989 |
Genre | : Industrial organization (Economic theory) |
ISBN | : |