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Estimating industry conduct using promotion data.

We estimate the evolution of competition in the ready‐to‐eat cereal industry. To separately identify detailed patterns of industry conduct from unobserved marginal cost shocks, we construct novel instruments that interact data on rival firms' promotions with measures of products' relative isolation...

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Published in:RAND Journal of Economics (Wiley-Blackwell) Vol. 55; no. 4; pp. 658 - 684
Main Authors: Michel, Christian, Paz y Miño, Jose Manuel, Weiergraeber, Stefan
Format: Article
Published: Wiley-Blackwell Dec2024
Subjects:
Prices
Product differentiation
Direct costing
Market power
Electricity markets
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