On the Distinction Between Structure and Conduct: Adjustment Costs, Concentration, and Price Behavior

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http://www.jstor.org/stable/2098533

Authors:

Paula R. Worthington

The effect of concentration on the speed of price adjustment is studied and shown to be ambiguous when adjustment costs are convex. The result relies on making a distinction between the structure of an industry and the conduct of firms within it.

Pages:

235-238

On the Distinction Between Structure and Conduct: Adjustment Costs, Concentration, and Price Behavior

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