Effects of Assumed Demand Form on Simulated Postmerger Equilibria View Full Text


Ontology type: schema:ScholarlyArticle     


Article Info

DATE

1999-11

AUTHORS

Philip Crooke, Luke Froeb, Steven Tschantz, Gregory J Werden

ABSTRACT

This paper investigates the properties of four demand systems used to predict the effects of differentiated products mergers: the Almost Ideal Demand System (AIDS), logit, linear, and log-linear (constant elasticity). In Monte Carlo experiments, these demand systems yield significantly different predictions, although all are calibrated to the same the same, randomly generated, premerger relative quantities and demand elasticities. The predicted price increase is greatest with log-linear demand, followed by the AIDS. The linear and logit demand forms result in significantly lower postmerger prices. The results highlight the importance of the inherent higher-order properties of demand systems, i.e., their “curvature.” More... »

PAGES

205-217

References to SciGraph publications

Identifiers

URI

http://scigraph.springernature.com/pub.10.1023/a:1007730632277

DOI

http://dx.doi.org/10.1023/a:1007730632277

DIMENSIONS

https://app.dimensions.ai/details/publication/pub.1011519743


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