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英文文献：On Endogeneity Of Retail Market Power In An Equilibrium Analysis: A Control Function Approach-均衡分析中零售市场力量的内生性:一种控制函数方法
英文文献作者：Hovhannisyan, Vardges,Stiegert, Kyle W.,Bozic, Marin
英文文献摘要：
The endogeneity of retail market power arises in the retail pricing equation due to the correlation between margins and unobserved cost components. Nevertheless, it has long been ignored in the equilibrium analysis of retail behavior. We address the issue via a control function approach in a new conceptual framework with consumer preferences represented by a benefit function. We further offer three test procedures to evaluate the endogeneity of retail market power. The empirical value of the model is illustrated in an application to the US yogurt industry. Outcomes from endogeneity tests provide strong evidence for market power endogeneity. Moreover, ignoring the issue results in downward bias in retail market power.
零售市场力量的内生性在零售定价方程中出现，由于利润和未观察到的成本成分之间的相关性。然而，长期以来在零售行为的均衡分析中，它一直被忽视。在一个新的概念框架中，我们通过一个控制函数方法来解决这个问题，消费者偏好由一个利益函数表示。我们进一步提供了三个测试程序来评估零售市场力量的内生性。该模型的经验值在美国酸奶行业的应用中得到了说明。内生性检验的结果为市场力量内生性提供了有力的证据。此外，忽视这一问题会导致零售市场力量的向下倾斜。
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