Capacity and Competition: Empirical Evidence on UK Panel Data
检验了产能约束是否使企业行为更接近古诺模型，利用英国行业面板数据发现产能约束与利润正相关，支持了产能决定竞争模式的观点。
Following D. Kreps and J. Scheinkman (1983), it is common to view the difference between Cournot and Bertrand competition as depending on production capacity. Bertrand undercutting is only feasible if firms have capacity to serve the market gained. If firms are capacity constrained, the Cournot model is more appropriate. This paper tests the capacity and competition idea by looking at the relationship between profits and capacity constraints; if capacity constrained firms become more Cournot-like, it should be positive. Using survey data on capacity constraints merged into a panel industry data set for the United Kingdom, the authors find a robust positive relationship. Copyright 1994 by Blackwell Publishing Ltd.