Public Policy and Market Competition: How the Master Settlement Agreement Changed the Cigarette Industry

被引：0

作者：

Ciliberto, Federico ^{[1
]}

Kuminoff, Nicolai V. ^{[2
]}

机构：

[1] Univ Virginia, Charlottesville, VA 22903 USA

[2] Arizona State Univ, Tempe, AZ 85287 USA

来源：

B E JOURNAL OF ECONOMIC ANALYSIS & POLICY | 2010年 / 10卷 / 01期

关键词：

cigarettes; Master Settlement Agreement; discrete choice; demand; competition; EMPIRICAL-ANALYSIS; FIRM BEHAVIOR; PRICES; CONSUMPTION; ADDICTION; MODELS; TAXES; TAR;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper investigates the large and unexpected increase in cigarette prices that followed the 1997 Master Settlement Agreement (MSA). We integrate key features of rational addiction theory into a discrete-choice model of the demand for a differentiated product. We find that following the MSA firms set prices on a more elastic region of their demand curves. Using these estimates, we predict prices that would be charged under a variety of industry structures and pricing rules. Under the assumptions of firms' perfect foresight and constant marginal costs, we fail to reject the hypothesis that firms collude on a dynamic pricing strategy.

引用

页数：46

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