The Evolution of Market Power in the U.S. Automobile Industry
研究了1980至2018年美国汽车市场的行业表现和福利变化，发现尽管实际价格上涨，但加价幅度大幅下降，消费者获得的剩余份额增加，福利提升源于产品质量和生产技术的改进。
Abstract We construct measures of industry performance and welfare in the U.S. automobile market from 1980 to 2018. We estimate a demand model using product-level data on market shares, prices, and attributes, and consumer-level data on demographics, purchases, and stated second choices. We estimate marginal costs assuming Nash-Bertrand pricing. We relate trends in consumer welfare and markups to trends in market structure and the composition of products. Although real prices rose, we find that markups decreased substantially, and the fraction of total surplus accruing to consumers increased. Consumer welfare increased over time due to improved product quality and improved production technology.