On the Distinction between Structure and Conduct: Adjustment Costs, Concentration, and Price Behavior

Paula R Worthington

Journal of Industrial Economics, 1989, vol. 38, issue 2, 235-38

Abstract: The effect of concentration on the speed of price adjustment is studied and shown to be ambiguous when adjustment costs are convex. The result relies on making a distinction between the structure of an industry and the conduct of firms within it. Copyright 1989 by Blackwell Publishing Ltd.

Date: 1989
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