Vertical Market Organization and the Structure-Profits Relationship
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Market structure research has concentrated substantial analysis on the relationship of market structure and profitability (Bain 1957, Weiss, and Federal Trade Commission for example). these analyses have generally relied heavily on seller concentration as the major explanatory variable for differences in industry rate of return. In some cases barriers to entry have been considered. This study adds measures of market structure in vertically related input and output markets in order to improve the explanation of industry profit variability.