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Price Adjustment within a Framework of Symmetric Oligopoly. An Analysis of Pricing in 380 U.S. Manufacturing Industries 1958-71

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  • Brack, John

Abstract

This paper is concerned with the generation and testing of predictions on price adjustment from a model of symmetric oligopoly. Two types of industry demand regimes are considered, linear and iso-elastic. It is shown that these can be distinguished by a simple test, and linear demand is given strong support. It is then shown that the industry conjectural variation may be treated as a function whose properties can be established by non-linear estimation of the price adjustment equation.

Suggested Citation

  • Brack, John, 1984. "Price Adjustment within a Framework of Symmetric Oligopoly. An Analysis of Pricing in 380 U.S. Manufacturing Industries 1958-71," The Warwick Economics Research Paper Series (TWERPS) 253, University of Warwick, Department of Economics.
    • Handle: RePEc:wrk:warwec:253
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    File URL: https://warwick.ac.uk/fac/soc/economics/research/workingpapers/1978-1988/twerp253.pdf
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