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Takanori Adachi
''A generalization of the Dorfman-Steiner Formula: Advertising spillovers under imperfect competition''
( 2020, Vol. 40 No.2 )
By using Weyl and Fabinger's (2013) conduct parameter approach, this note generalizes the Dorfman-Steiner formula to include the case of imperfect competition and advertising spillovers, and thereby extends Forbes' (1986) analysis of quantity competition. Furthermore, this generalization also allows the possibility of coordinated/collusive pricing by introducing Edgeworth's (1881) “coefficient of sympathy” as its micro-foundation, and generalizes Lambin's (1970) and Schmalensee's (1972) expressions of the Dorfman-Steiner formula in oligopoly.
Keywords: Dorfman-Steiner Formula, Imperfect Competition, Conduct Parameter, Advertising Spillovers, Collusive Pricing
JEL: L1 - Market Structure, Firm Strategy, and Market Performance: General
M3 - Marketing and Advertising: General
Manuscript Received : Nov 28 2019 Manuscript Accepted : May 09 2020

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