| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15313 |
| 来源ID | Working Paper 15313 |
| Entry, Exit, and the Determinants of Market Structure | |
| Timothy Dunne; Shawn D. Klimek; Mark J. Roberts; Daniel Yi Xu | |
| 发表日期 | 2009-09-04 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Market structure is determined by the entry and exit decisions of individual producers. These decisions are driven by expectations of future profits which, in turn, depend on the nature of competition within the market. In this paper we estimate a dynamic, structural model of entry and exit in an oligopolistic industry and use it to quantify the determinants of market structure and long-run firm values for two U.S. service industries, dentists and chiropractors. We find that entry costs faced by potential entrants, fixed costs faced by incumbent producers, and the toughness of short-run price competition are all important determinants of long run firm values and market structure. As the number of firms in the market increases, the value of continuing in the market and the value of entering the market both decline, the probability of exit rises, and the probability of entry declines. The magnitude of these effects differ substantially across markets due to differences in exogenous cost and demand factors and across the dentist and chiropractor industries. Simulations using the estimated model for the dentist industry show that pressure from both potential entrants and incumbent firms discipline long-run profits. We calculate that a seven percent reduction in the mean sunk entry cost would reduce a monopolist's long-run profits by the same amount as if the firm operated in a duopoly. |
| 主题 | Industrial Organization ; Market Structure and Firm Performance ; Industry Studies |
| URL | https://www.nber.org/papers/w15313 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572988 |
| 推荐引用方式 GB/T 7714 | Timothy Dunne,Shawn D. Klimek,Mark J. Roberts,et al. Entry, Exit, and the Determinants of Market Structure. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15313.pdf（316KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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