Entry and empirical demand and supply analysis for competitive industries

DOI10.1016/0304-4076(85)90151-4MaRDI QIDQ1069417zbMATH OpenOpenAlexFDO

Authors William Veloce, Arnold Zellner

Publication date 1985

Published in Journal of Econometrics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0304-4076(85)90151-4

zbMATH Keywords

competitive industriesentryequilibrium pricenumber of producersprofit maximization

Mathematics Subject Classification ID

Applications of statistics to economics (62P20) Microeconomic theory (price theory and economic markets) (91B24) Trade models (91B60) Economic time series analysis (91B84)

Review text

Since many theoretical and empirical models of competitive industries do not take appropriate account of entry, several deterministic demand, supply and entry (DSE) models are formulated and analyzed. The supply equation in these models is derived assuming profit maximization, identical production functions and competitive conditions for producers. Models are solved to yield equilibrium price, output, and number of producers and properties of solutions are analyzed. Annual data for the Canadian household furniture industry are employed to investigate and estimate various forms of supply and entry equations.

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Cites work

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Cited in

(6)

• To enter or not to enter? A competitive analysis with minimum quality standards
• The impact of cost changes on industry entry and exit
• MARSHALLIAN MACROECONOMIC MODEL: A PROGRESS REPORT
• Bifurcation analysis of Zellner's Marshallian macroeconomic model
• Comparing dynamic equilibrium models to data: a Bayesian approach
• Non-stationary structural model with time-varying demand elasticities

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