Measurement of industry conduct with a latent structure
提出一种估计市场力量和行业行为的新方法，使用潜在建模结构（MIMIC模型变体）分析新鲜苹果行业，发现华盛顿苹果虽市场份额大但未行使市场力量，竞争者和零售商力量是抑制因素。
Abstract Empirical industrial organization economists have long been concerned with measuring the degree of competition in markets and understanding its underlying determinants, but they have faced serious difficulties, including data requirements and misspecification issues. This paper offers an alternative method of estimating market power and industry conduct. Market power is estimated for the fresh apple industry with a latent modelling structure. Specifically, variations of the MIMIC model are adapted to this problem. These variations are the multiple‐indicators (MI) and the filtered‐measure (FM) approaches. The results suggest that although the Washington apple industry has a large market share, it does not exercise market power. Factors that mitigate the exertion of market power in the fresh apple market include competitor shipments and retailer power. Copyright © 2004 John Wiley & Sons, Ltd.