Estimating Price Lists, List Changes, and Market Shares from Sealed Bids
Journal of Political Economy
1978
This paper is an analysis of the information content of sealed-bid market prices. Using sealed-bid prices, a simple expression is developed to estimate price lists and market shares in the sealed-bid market. Empirically, the estimates accurately reflect the firms' actual price lists. A means of detecting changes in the price lists is suggested. It is shown that price lists allocate market shares, and the market shares are estimated. In the industry studied, price lists were used to allocate market shares and limit price competition in the sealed-bid portion of the industry.
- DOI
- 10.1086/260662
- Volume
- 86 (2, Part 1)
- Pages
- 193-209
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref