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Investigating Behavioral Explanations for Asymmetric Price Competition
http://hdl.handle.net/2261/2401
http://hdl.handle.net/2261/24010c4a1d9b-0c47-485f-9946-0eacf5600fba
Item type | テクニカルレポート / Technical Report(1) | |||||
---|---|---|---|---|---|---|
公開日 | 2012-01-13 | |||||
タイトル | ||||||
タイトル | Investigating Behavioral Explanations for Asymmetric Price Competition | |||||
言語 | ||||||
言語 | eng | |||||
キーワード | ||||||
主題 | Price competition | |||||
主題Scheme | Other | |||||
キーワード | ||||||
主題 | Buyer behavior | |||||
主題Scheme | Other | |||||
キーワード | ||||||
主題 | Choice models | |||||
主題Scheme | Other | |||||
キーワード | ||||||
主題 | Heterogeneity | |||||
主題Scheme | Other | |||||
資源タイプ | ||||||
資源 | http://purl.org/coar/resource_type/c_18gh | |||||
タイプ | technical report | |||||
アクセス権 | ||||||
アクセス権 | metadata only access | |||||
アクセス権URI | http://purl.org/coar/access_right/c_14cb | |||||
著者 |
Abe, Makoto
× Abe, Makoto |
|||||
著者所属 | ||||||
著者所属 | University of Tokyo | |||||
抄録 | ||||||
内容記述タイプ | Abstract | |||||
内容記述 | Asymmetric price competition in consumer packaged goods is a well-known phenomenon. Researchers have proposed three behavioral explanations: (1) heterogeneity in consumer preference, (2) the income effect, and (3) the reference and loss-aversion effects. These explanations have been offered independently by different researchers using different types of data with different methodology. Despite the interest in asymmetric price competition by the marketing community, no attempt has been made to compare across the three explanations and draw an inference on which one is most likely. The objectives of this paper are three-folds. Firstly, important factors when studying asymmetric price competition are discussed. These include, (1) confounding of the supply-side and demand-side factors when analyzing aggregate data, such as market share, and (2) an appropriate measure for asymmetric price competition as the change in market share of a brand for a unit price change of a competing brand. Second, based on these considerations, theoretical arguments against previous explanations are provided. (1) The Heterogeneity Effect: Aggregate data is analyzed and cross-price elasticity is used. The explanation is inferred indirectly. (2) Income effect: Infinite divisibility of goods is assumed. (3) Loss-aversion effect: Household heterogeneity is not well accounted for. These claims are then supported empirically using scanner-panel data from four categories. Third, an alternative explanation is proposed to show that a basic assumption of consumer utility in Microeconomic theory, the diminishing-marginal-return effect in price, results in asymmetric competition. It was shown that the concavity (i.e., the diminishing-marginal-return effect) in price was stronger than that of logarithm in all four product categories. | |||||
内容記述 | ||||||
内容記述タイプ | Other | |||||
内容記述 | 本文フィルはリンク先を参照のこと | |||||
書誌情報 |
Discussion paper series. CIRJE-F 巻 CF-125, 発行日 2001-07 |
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書誌レコードID | ||||||
収録物識別子タイプ | NCID | |||||
収録物識別子 | AA11450569 | |||||
フォーマット | ||||||
内容記述タイプ | Other | |||||
内容記述 | application/pdf | |||||
日本十進分類法 | ||||||
主題 | 330 | |||||
主題Scheme | NDC | |||||
出版者 | ||||||
出版者 | 日本経済国際共同センター | |||||
出版者別名 | ||||||
Center for International Research on the Japanese Economy | ||||||
関係URI | ||||||
識別子タイプ | URI | |||||
関連識別子 | http://www.cirje.e.u-tokyo.ac.jp/research/dp/2001/2001cf125.pdf |