A generalized index of market power
This paper analyses two approaches to measuring market power -the commonly used Lerner index and a range of exploitation measures-. It is argued that the Lerner index is designed to quantify market power from the supply side, and the exploitation measures are designed to quantify market power from t...
- Autores:
-
Vallejo González, Hernán Eduardo
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2005
- Institución:
- Universidad de los Andes
- Repositorio:
- Séneca: repositorio Uniandes
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.uniandes.edu.co:1992/7970
- Acceso en línea:
- http://hdl.handle.net/1992/7970
- Palabra clave:
- Market power
Mark up
Mark down
Lerner index
Exploitation measures
Industrial organization
Conjectural variations
Productividad industrial - Modelos econométricos
Organización industrial - Investigaciones
Concentración industrial - Modelos econométricos
Economía de mercado - Modelos econométricos
Oferta y demanda - Modelos econométricos
D49, L10, L11
- Rights
- openAccess
- License
- http://creativecommons.org/licenses/by-nc-nd/4.0/
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Al consultar y hacer uso de este recurso, está aceptando las condiciones de uso establecidas por los autores.http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Vallejo González, Hernán Eduardoe2ed34aa-da8f-4dcc-9814-04b1d8459b4a6002018-09-27T16:49:48Z2018-09-27T16:49:48Z20051657-5334http://hdl.handle.net/1992/79701657-719110.57784/1992/7970instname:Universidad de los Andesreponame:Repositorio Institucional Sénecarepourl:https://repositorio.uniandes.edu.co/This paper analyses two approaches to measuring market power -the commonly used Lerner index and a range of exploitation measures-. It is argued that the Lerner index is designed to quantify market power from the supply side, and the exploitation measures are designed to quantify market power from the demand side, and that those two approaches do not always behave in a symmetric way, since they do not always have the same bounds. To sort out these potentially undesirable properties, this paper proposes a new general index to measure market power, which is symmetrical in the sense that it is bounded between cero and one, regardless of whether the market power comes from the supply or the demand side. The index proposed allows for the presence of more than one firm and for the existence of conjectural variations.Este documento analiza dos enfoques para medir poder de mercado -el frecuentemente utilizado índice de Lerner y un conjunto de medidas de explotación-. Se argumenta que el índice de Lerner está diseñado para cuantificar el poder de mercado por el lado de la oferta, y que las medidas de explotación están diseñadas para cuantificar el poder de mercado por el lado de la demanda, y que esos dos enfoques no siempre tienen los mismos límites. Para corregir estas propiedades potencialmente no deseables, este documento propone un nuevo índice general para medir poder de mercado, que es simétrico -estando restringido a valores entre cero y uno-, independientemente de si el poder de mercado proviene del lado de la oferta o de la demanda. El índice propuesto permite la presencia de más de una firma y la existencia de variaciones conjeturales.27 páginasapplication/pdfengUniversidad de los Andes, Facultad de Economía, CEDEDocumentos CEDE No. 19 Marzo de 2004https://ideas.repec.org/p/col/000089/001916.htmlA generalized index of market powerUn índice generalizado de poder de mercadoDocumento de trabajoinfo:eu-repo/semantics/workingPaperhttp://purl.org/coar/resource_type/c_8042http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttps://purl.org/redcol/resource_type/WPMarket powerMark upMark downLerner indexExploitation measuresIndustrial organizationConjectural variationsProductividad industrial - Modelos econométricosOrganización industrial - InvestigacionesConcentración industrial - Modelos econométricosEconomía de mercado - Modelos econométricosOferta y demanda - Modelos econométricosD49, L10, L11Facultad de EconomíaPublicationTEXTdcede2005-61.pdf.txtdcede2005-61.pdf.txtExtracted texttext/plain22786https://repositorio.uniandes.edu.co/bitstreams/a680ba8f-f847-4616-ac16-1362faf12109/download3c87e29597af06def8d42dd4ee70e925MD54ORIGINALdcede2005-61.pdfdcede2005-61.pdfapplication/pdf219883https://repositorio.uniandes.edu.co/bitstreams/ba5946d1-9ff5-4afe-a41c-f79ab63d81c2/download547ce98019f2eda383c4cd2f1981d609MD51THUMBNAILdcede2005-61.pdf.jpgdcede2005-61.pdf.jpgIM Thumbnailimage/jpeg15401https://repositorio.uniandes.edu.co/bitstreams/3e1f23c1-9eab-4d6e-ac6d-1ef12fcac9e6/downloadfc2e402eaa2139ebbc6e438b16df37d9MD551992/7970oai:repositorio.uniandes.edu.co:1992/79702024-06-04 15:46:55.99http://creativecommons.org/licenses/by-nc-nd/4.0/open.accesshttps://repositorio.uniandes.edu.coRepositorio institucional Sénecaadminrepositorio@uniandes.edu.co |
dc.title.none.fl_str_mv |
A generalized index of market power |
dc.title.alternative.none.fl_str_mv |
Un índice generalizado de poder de mercado |
title |
A generalized index of market power |
spellingShingle |
A generalized index of market power Market power Mark up Mark down Lerner index Exploitation measures Industrial organization Conjectural variations Productividad industrial - Modelos econométricos Organización industrial - Investigaciones Concentración industrial - Modelos econométricos Economía de mercado - Modelos econométricos Oferta y demanda - Modelos econométricos D49, L10, L11 |
title_short |
A generalized index of market power |
title_full |
A generalized index of market power |
title_fullStr |
A generalized index of market power |
title_full_unstemmed |
A generalized index of market power |
title_sort |
A generalized index of market power |
dc.creator.fl_str_mv |
Vallejo González, Hernán Eduardo |
dc.contributor.author.none.fl_str_mv |
Vallejo González, Hernán Eduardo |
dc.subject.keyword.none.fl_str_mv |
Market power Mark up Mark down Lerner index Exploitation measures Industrial organization Conjectural variations |
topic |
Market power Mark up Mark down Lerner index Exploitation measures Industrial organization Conjectural variations Productividad industrial - Modelos econométricos Organización industrial - Investigaciones Concentración industrial - Modelos econométricos Economía de mercado - Modelos econométricos Oferta y demanda - Modelos econométricos D49, L10, L11 |
dc.subject.armarc.none.fl_str_mv |
Productividad industrial - Modelos econométricos Organización industrial - Investigaciones Concentración industrial - Modelos econométricos Economía de mercado - Modelos econométricos Oferta y demanda - Modelos econométricos |
dc.subject.jel.none.fl_str_mv |
D49, L10, L11 |
description |
This paper analyses two approaches to measuring market power -the commonly used Lerner index and a range of exploitation measures-. It is argued that the Lerner index is designed to quantify market power from the supply side, and the exploitation measures are designed to quantify market power from the demand side, and that those two approaches do not always behave in a symmetric way, since they do not always have the same bounds. To sort out these potentially undesirable properties, this paper proposes a new general index to measure market power, which is symmetrical in the sense that it is bounded between cero and one, regardless of whether the market power comes from the supply or the demand side. The index proposed allows for the presence of more than one firm and for the existence of conjectural variations. |
publishDate |
2005 |
dc.date.issued.none.fl_str_mv |
2005 |
dc.date.accessioned.none.fl_str_mv |
2018-09-27T16:49:48Z |
dc.date.available.none.fl_str_mv |
2018-09-27T16:49:48Z |
dc.type.spa.fl_str_mv |
Documento de trabajo |
dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
dc.type.driver.spa.fl_str_mv |
info:eu-repo/semantics/workingPaper |
dc.type.coar.spa.fl_str_mv |
http://purl.org/coar/resource_type/c_8042 |
dc.type.content.spa.fl_str_mv |
Text |
dc.type.redcol.spa.fl_str_mv |
https://purl.org/redcol/resource_type/WP |
format |
http://purl.org/coar/resource_type/c_8042 |
dc.identifier.issn.none.fl_str_mv |
1657-5334 |
dc.identifier.uri.none.fl_str_mv |
http://hdl.handle.net/1992/7970 |
dc.identifier.eissn.none.fl_str_mv |
1657-7191 |
dc.identifier.doi.none.fl_str_mv |
10.57784/1992/7970 |
dc.identifier.instname.spa.fl_str_mv |
instname:Universidad de los Andes |
dc.identifier.reponame.spa.fl_str_mv |
reponame:Repositorio Institucional Séneca |
dc.identifier.repourl.spa.fl_str_mv |
repourl:https://repositorio.uniandes.edu.co/ |
identifier_str_mv |
1657-5334 1657-7191 10.57784/1992/7970 instname:Universidad de los Andes reponame:Repositorio Institucional Séneca repourl:https://repositorio.uniandes.edu.co/ |
url |
http://hdl.handle.net/1992/7970 |
dc.language.iso.none.fl_str_mv |
eng |
language |
eng |
dc.relation.ispartofseries.none.fl_str_mv |
Documentos CEDE No. 19 Marzo de 2004 |
dc.relation.repec.spa.fl_str_mv |
https://ideas.repec.org/p/col/000089/001916.html |
dc.rights.uri.*.fl_str_mv |
http://creativecommons.org/licenses/by-nc-nd/4.0/ |
dc.rights.accessrights.spa.fl_str_mv |
info:eu-repo/semantics/openAccess |
dc.rights.coar.spa.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
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http://creativecommons.org/licenses/by-nc-nd/4.0/ http://purl.org/coar/access_right/c_abf2 |
eu_rights_str_mv |
openAccess |
dc.format.extent.none.fl_str_mv |
27 páginas |
dc.format.mimetype.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidad de los Andes, Facultad de Economía, CEDE |
publisher.none.fl_str_mv |
Universidad de los Andes, Facultad de Economía, CEDE |
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Universidad de los Andes |
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