Why do gas prices vary, or towards understanding the micro-structure of competition

Philip Bromiley, Chris Papenhausen and Patricia Borchert
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Philip Bromiley: Department of Strategic Management, University of Minnesota, 321 19th Avenue South, Minneapolis, MN 55455, USA, Postal: Department of Strategic Management, University of Minnesota, 321 19th Avenue South, Minneapolis, MN 55455, USA
Chris Papenhausen: Department of Strategic Management, University of Minnesota, 321 19th Avenue South, Minneapolis, MN 55455, USA, Postal: Department of Strategic Management, University of Minnesota, 321 19th Avenue South, Minneapolis, MN 55455, USA
Patricia Borchert: Department of Strategic Management, University of Minnesota, 321 19th Avenue South, Minneapolis, MN 55455, USA, Postal: Department of Strategic Management, University of Minnesota, 321 19th Avenue South, Minneapolis, MN 55455, USA

Managerial and Decision Economics, 2002, vol. 23, issue 4-5, 171-186

Abstract: Strategic management work on competition considers industry segments or industries for the most part. We argue that real competition occurs at much lower levels of aggregation in many industries: what we term the micro-structure of competition. Micro-structures arise from boundedly rational firms searching imperfectly for business opportunities and boundedly rational consumers searching in a behaviorally determined manner for products and services. This paper lays out the basics of the micro-structural approach to competitive analysis and presents initial propositions from that approach. Copyright © 2002 John Wiley & Sons, Ltd.

Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:wly:mgtdec:v:23:y:2002:i:4-5:p:171-186

DOI: 10.1002/mde.1060

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