Economics Dictionary of ArgumentsHome
| |||
|
| |||
| Market concentration: Market concentration in economics refers to the extent to which a small number of firms dominate total sales, production, or capacity in a market. High concentration suggests less competition and potential market power, while low concentration indicates a more competitive environment. It is often measured using indicators like the Herfindahl-Hirschman Index (HHI) or concentration ratios. See also Markets, Free market, Organisaion, Competition, Monopolies, Monopolistic competition, Oligopolies._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Dictionary of Arguments. | |||
| Author | Concept | Summary/Quotes | Sources |
|---|---|---|---|
|
Samuel Peltzman on Market Concentration - Dictionary of Arguments
Henderson I 67 Market concentration/Peltzman/Henderson/Globerman: Peltzman (1977)(1) helps disentangle the nature of the empirical relationship between concentration and profitability by examining how concentration is related to price on the one hand, and to average cost on the other. >Economies of scale, >Profit, >Cost, >Price. Prices/size of the firm: In Peltzman's framework, the relationship identified between concentration and price reflects the ability of firms to charge above-competitive prices, while the relationship between concentration and average cost reflects effciency advantages enjoyed by firms in concentrated industries. Peltzman thesis: Based on his empirical findings, Peltzman argues that a positive relationship between concentration and price can be identified. However, it is dwarfed in statistical importance by the relationship between higher concentration and Iower average cost. >Antitrust laws/Policy of the US, >Market concentration/Demsetz. 1. Peltzman, Sam (1977). The Gains and Losses from Industrial Concentration. Journal of Law & Economics 20, 2: 229-263._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. "Vs" indicates differences in content, not necessarily the chronological progression of a controversy. If a German edition is specified, the page numbers refer to this edition. |
Peltzman I Samuel Peltzman Political Participation and Government Regulation (History, Culture, and Life) Chicago: University of Chicago Press 1998 Henderson I David R. Henderson Steven Globerman The Essential UCLA School of Economics Vancouver: Fraser Institute. 2019 |
||
Authors A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Concepts A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
