Keyword: market structure
A Fable of Fruit Vendors (9/7/2009)
Fruit vendors may choose perfect competition or pricing power depending on foot traffic and other locational advantages.
Competitive Strategy (7/7/2006)
Static efficiency in mature products may be good for consumers in the short run, but dynamic efficiency in innovative products is what drives the economy and elevates consumer welfare in the long run.
Market Entry (7/7/2006)
Barriers to market entry result in different market structure.
Market structure taxonomy (8/8/2006)
Market structure depends on the uniqueness of the products, barrier to entry, and scale economy. Specifically, the more unique the product, the higher the entry barrier, and the larger the scale economy is, the greater the pricing power.
Niche Competition (9/7/2005)
Mass customization using e-commerce and digital production technology has brought uniquely different products to suit individual tastes and a new component (niche competition) to the conventional textbook market structure.
Transaction Costs and Market Structure (2/2/2000)
The ubiquitous existence of transactions costs in the real world determines both the institutional structure within which prices are set and the level of prices.