Competition Among Spatially Differentiated Firms : An Estimator with an Application to Cement by Matthew J Osborne
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Author: Matthew J Osborne
Page Count: 62 pages
Published Date: 08 Feb 2013
Publisher: Bibliogov
Publication Country: United States
Language: English
ISBN: 9781288726301
File size: 32 Mb
File Name: Competition.Among.Spatially.Differentiated.Firms.An.Estimator.with.an.Application.to.Cement.pdf
Download Link: Competition Among Spatially Differentiated Firms An Estimator with an Application to Cement
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We develop an estimator for models of competition among spatially di erentiated rms. In contrast to existing methods (e.g., Houde (2009)), the estimator has exible data requirements and is implementable with data that are observed at any level of aggregation. Further, the estimator is the rst to be applicable to models in which rms price discriminate among consumers based on location. We apply the estimator to the portland cement industry in the U.S. Southwest over 1983-2003. We estimate transportation costs to be $0.30 per tonne-mile and show that, given the topology of the U.S. Southwest, these transportation costs permit more geographically isolated plants to discriminate among consumers. We conduct a counterfactual experiment and determine that disallowing this spatial price discrimination would increase consumer surplus by $12 million annually, relative to a volume of commerce of $1.3 billion. Heretofore it has not been possible examine the surplus implications of spatial price discrimination in speci c, real-world settings; these implications have been known to be ambiguous theoretically since at least Gronberg and Meyer (1982) and Katz (1984). Additionally, our methodology can be used to construct transportation margins, which are an important component of input-output tables.
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