Монополистическая конкуренция и олигополия в `большой экономике': велика ли разница?
The paper studies a market of horizontally differentiated good under increasing return to scale and exogenous number of firms. Three concepts of equilibria are compared: Cournot, Bertrand and monopolistic competition. Under fairly general assumptions on consumer’s preferences, it is shown that Lerner index is the highest in Cournot case, monopolistic competition provides the lowest one and Bertrand equilibrium takes intermediate position. When the number of firms N increases, both oligopolistic equilibria converge to monopolistic competitive equilibrium with rate 1 / N . Thus the study generalizes the similar results on markets of homogeneous goods.
The paper studies empirically competition on regional markets for banking services in Russia. Bank-level statistics collected in two adjacent Russian regions, namely Bashkortostan and Tatarstan, enabled to compare these markets. Estimation based on Herfindahl-Hirschman index, Lerner index and Panzar-Rosse model suggests that both regional markets are featured by monopolistic competition. Contrary to ex ante expectations, intensity of competition in Bashkortostan turned out to be higher than in Tatarstan. There is found no convincing statistical proof to the theoretical hypothesis that market power dynamics are driven by market structure, i.e. by the degree of market concentration in the hands of top players.
This empirical paper adds to competition and industrial organization literature by exploring the interplay between industry structure and competitiveness on local, rather than nation-wide, markets. We use micro-level statistical data for banks in two Russian regions (Bashkortostan and Tatarstan) to estimate Herfindahl-Hirschman index, Lerner index, and Panzar-Rosse model. We estimate Panzar-Rosse model in two ways: via the widely used price-equation that accounts for scale effects and then via a revenue-equation that disregards scale effects as suggested by Bikker, Shaffer and Spierdijk (2009). We find both regional markets to be ruled by monopolistic competition, although estimation by revenue-equation does not reject monopoly hypothesis for Tatarstan. Existence of sizeable locally-owned and operated institutions does not necessarily lead to higher competitiveness of the given regional market. Non-structural methods of estimation suggest that bank competition in Bashkortostan is stronger than in Tatarstan.
«Менеджерлерге арнал#ан экономика» кітабы о9ырманды зама-
науи 9о#амда аса 9ажетті болып табылатын ?рі экономикалы9 ойлауды
9алыптастыру#а ы9пал ететін микро ж?не макроэкономика моделдеріні/
негізгі M#ым-тOсініктерімен таныстырады. Атал#ан о9улы9ты/ ерекшелігі,
мMнда теориялы9 моделдер мен тMжырымдарды/ практикалы9 9ызмет ба-
рысында пайдаланылуына басты назар аударылады. Экономист-аналитик-
терге, сарапшылар#а арнал#ан экономикалы9 теория бойынша д?стOрлі
о9улы9тардан айырмашылы#ы, «Менеджерлерге арнал#ан экономика» биз-
нес 9Mрылымдарда 9ызмет ететін немесе осы салада жMмыс жасауды жоспар-
лап жOрген практик мамандар#а арнал#ан. Кітапта іс жOзінде 9ызмет ат9арып
жат9ан нары9тар мен компанияларды/ на9ты мысалдары, тапсырмалар
(жауаптары берілген) ж?не кейстер келтірілген.
О9улы9, е/ біріншіден, «Мастер делового администрирования — Master
of Business Administration (MBA)» білім беру ба#дарламасы бойынша 9осымша
к?сіби білім алушылар#а арнал#ан. Сонымен 9атар экономика саласына
9ызы#ушылы9 танытатын 9алы/ кHпшілік 9ауым#а — студенттерге, экономика
п?ніні/ о9ытушыларына, жо#ар#ы ж?не орта буын менеджерлеріне арнал#ан.
This is the first paper on consumer search where the cost of going back to stores already searched is explicitly taken into account. We show that the optimal sequential search rule under costly second visits is very different from the traditional reservation price rule in that it is nonstationary and not independent of previously sampled prices. We explore the implications of costly second visits on market equilibrium in two celebrated search models. In the Wolinsky model some consumers search beyond the first firm and in this class of models costly second visits do make a substantive difference: equilibrium prices under costly second visits can both be higher and lower than their perfect recall analogues. In the oligopoly search model of Stahl where consumers do not search beyond the first firm, there remains a unique symmetric equilibrium that has firms use pricing strategies that are identical to the perfect recall case.
The article considers the processes of progress in production and service sectors and answers the question how and thanks to what service sector of Russian economy left the productive one behind (concerning contribution in GDP of our country). The rates of development of service sector turned out to be so high firstly - as a reason of peculiarities of new Russian economy, which historically was built on the market principles and was developing in conditions of investment resources deficit, secondly - as a reason of system differences between «physical» goods and services as an object of sale. Nowadays Russia faces an unusual symbiosis: effective service companies, operating in hard competitive sphere with average profitability and non-affective from the point of management industrial companies, which thanks to monopolistic pricing have great profitability, providing profits of Russian budget and determining a macroeconomic situation.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.