COLLUSION, EFFICIENCY AND PRICING BEHAVIOR: EVIDENCE FROM THE BANKING INDUSTRY
作者:
MICHAEL SMIRLOCK,
DAVID BROWN,
期刊:
Economic Inquiry
(WILEY Available online 1986)
卷期:
Volume 24,
issue 1
页码: 85-96
ISSN:0095-2583
年代: 1986
DOI:10.1111/j.1465-7295.1986.tb01798.x
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
This paper examines the validity of competing hypotheses used to explain the observed positive relationship between concentration and profits. Using price proxies from the banking industry, we find that leading (secondary) firms in a market act as price‐setters (price‐takers). This is true regardless of market concentration. We interpret this as evidence of the superior efficiency of leading firms and conclude that the higher profits earned by these firms is due to their superior efficiency and not collusive behav
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