Arbeitspapier

Industry Structure and Pricing over the Business Cycle

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We consider the interaction between an incumbent firm and a potential entrant, and examine how this interaction is affected by demand fluctuations. Our model gives rise to procyclical entry, prices, and price-cost margins, although the average price in the market can be countercyclical if the entrant is a first mover, and capacity utilization can be either pro- or countercyclical if the incumbent is a first mover. Moreover, our results show that entry deterrence by the incumbent firm can either amplify or dampen the effect of demand fluctuations on prices, price-cost margins, and capacity utilization.

Language: Englisch

Bibliographic citation: Series: CESifo Working Paper ; No. 4848

Classification: Wirtschaft
Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection
Monopolization; Horizontal Anticompetitive Practices

Subject: price competition
business cycle
entry
entry deterrence

Event: Geistige Schöpfung

(who): Spiegel, Yossi
Stahl, Konrad O.

Event: Veröffentlichung

(who): Center for Economic Studies and ifo Institute (CESifo)

(where): Munich

(when): 2014

Handle: http://hdl.handle.net/10419/102173

Last update: 10.03.2025, 11:42 AM CET

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Object type

Arbeitspapier

Associated

Spiegel, Yossi
Stahl, Konrad O.
Center for Economic Studies and ifo Institute (CESifo)

Time of origin

2014

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