Price Adjustment within a Framework of Symmetric Oligopoly. An Analysis of Pricing in 380 U.S. Manufacturing Industries 1958-71

John Brack

The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics

Abstract: This paper is concerned with the generation and testing of predictions on price adjustment from a model of symmetric oligopoly. Two types of industry demand regimes are considered, linear and iso-elastic. It is shown that these can be distinguished by a simple test, and linear demand is given strong support. It is then shown that the industry conjectural variation may be treated as a function whose properties can be established by non-linear estimation of the price adjustment equation.

Pages: 24 pages
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:wrk:warwec:253

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