Dealer and Manufacturer Margins
提出一个连续垄断模型，解释经销商和制造商在一条产品线上的利润空间模式，并用美国汽车制造商及其经销商的数据验证模型，发现零售需求曲线局部线性，且利润数据揭示了零售价与标价的偏离程度。
When retail dealerships carry only one product line, the size of the dealer margin is crucial to the success of both the manufacturer and the dealer. This article proposes a successive monopoly model of patterns in exclusive dealer and manufacturer margins across a product line. The predictions of the model then are compared with the pricing practices of a major U.S. automobile manufacturer and its dealers. The data support a special case of our theory. Our analysis also indicates that we cannot reject the hypothesis that the retail demand curves for these models are (locally) linear. Finally, we use the margin data to provide updated evidence on the extent to which retail prices depart from list price.