Data and code for "Product Differentiation and Oligopoly: a Network Approach"

Principal Investigator(s): View help for Principal Investigator(s) Bruno Pellegrino, Columbia University

Name	File Type	Size	Last Modified
AER_ReplicationPackage			02/22/2025 12:58:AM

Project Citation:

Pellegrino, Bruno. Data and code for “Product Differentiation and Oligopoly: a Network Approach.” Nashville, TN: American Economic Association [publisher], 2025. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2025-03-10. https://doi.org/10.3886/E209030V1

Project Description

Summary: I present a new theory of oligopoly and markups in general equilibrium, based on an innovative, scalable hedonic demand system, which I take to the data for the universe of US public firms. In my model, firms compete in a network of product market rivalries that emerge endogenously out of the characteristics of the products they supply. I estimate that consumer surplus is at least three times as large as profits, I decompose firm-level markups into metrics of quality-adjusted productivity and market centrality, and analyze the extent, evolution and drivers of monopoly power in the USA between 1995 and 2021.

Scope of Project

JEL Classification:
      D21 Firm Behavior: Theory
      D22 Firm Behavior: Empirical Analysis
      D61 Allocative Efficiency; Cost-Benefit Analysis
      E23 Macroeconomics: Production
      L13 Oligopoly and Other Imperfect Markets
      L40 Antitrust Issues and Policies: General

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Published Versions

V1 [2025-03-10]

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