Measurement of Monopoly Behavior: An Application to the Cigarette Industry
提出一种测量垄断定价行为的方法，通过价格方程中的税率项系数识别价格与边际成本之比，无需直接测量成本，并应用于烟草行业数据，结果不支持完全竞争但也不支持有效卡特尔。
A simple scheme is proposed to measure monopoly pricing behavior. The coefficient of the tax rate term in a price equation identifies the ratio of price to marginal cost. No direct measurement of costs is required, so a major problem for other empirical studies of monopoly is avoided. Empirical results for cross-section time-series data support rejection of atomistic competition but also provide evidence against the operation of an effective cartel in the cigarette industry. The model represents an alternative interpretation of related results in a recent paper by Barzel. Application of the methodology to other markets is feasible.