Abstract
The Panzar-Rosse test has been widely applied to assess competitive conduct, often in specifications controlling for firm scale or using a price equation. We show that neither a price equation nor a scaled revenue function yields a valid measure for compe
Original language | English |
---|---|
Pages (from-to) | 1025-1044 |
Journal | Review of Economics and Statistics |
Volume | 94 |
Issue number | 4 |
DOIs | |
Publication status | Published - 2012 |