@inbook{89e6df0641ac41d2859496e1442136bd,
title = "Industry Structure and Pricing Over the Business Cycle",
abstract = "We consider the interaction between an incumbent firm and a potential entrant, and examine how this interaction is affected by demand fluctuations. Our model gives rise to procyclical entry, prices, and price-cost margins, although the average price in the market can be countercyclical if the entrant is a first mover, and capacity utilization can be either pro- or countercyclical if the incumbent is a first mover. Moreover, our results show that entry deterrence by the incumbent firm can either amplify or dampen the effect of demand fluctuations on prices, price-cost margins, and capacity utilization.",
author = "Yossi Spiegel and Konrad Stahl",
note = "doi:10.1142/9789814616362_0005 M1 - 0",
year = "2014",
doi = "10.1142/9789814616362_0005",
language = "الإنجليزيّة",
isbn = "978-981-4616-35-5",
series = "World Scientific-Now Publishers Series in Business",
publisher = "World Scientific",
pages = "115--140",
editor = "Martin Peitz and Yossi Spiegel",
booktitle = "The Analysis of Competition Policy and Sectoral Regulation",
address = "الولايات المتّحدة",
}