Estimating Monopoly Behavior with Competitive Recycling: An Application to Alcoa
构建了一个结构模型，分析一战与二战期间美国铝业公司的成本最小化问题及竞争性回收行业的影响，估计其市场势力，发现铝业公司对回收行业影响有限但仍拥有显著市场势力。
This article develops a structural model of the aluminum industry during the period between World War I and World War II. It takes into account both the intertemporal nature of Alcoa's cost minimization problem and the competitive recycling sector. The model enables estimation of Alcoa's degree of market power, while allowing for the effect of competition from recycled aluminum. Previous work has emphasized Alcoa's control over the size of the secondary sector in the long run as a source of market power for Alcoa. The results here indicate that Alcoa could exert little influence in this regard, but nonetheless had substantial market power.