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〈Articles〉Theory of Conjectural Variation in Oligopolistic Price ―Application to Japanese Beer Industry under Covid-19 Crisis―
https://kindai.repo.nii.ac.jp/records/22201
https://kindai.repo.nii.ac.jp/records/22201c0c44df1-ab8d-46d6-98fd-d9494b743d02
| 名前 / ファイル | ライセンス | アクション |
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AN10437975-20210331-0139.pdf (1.5 MB)
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| Item type | ☆紀要論文 / Departmental Bulletin Paper(1) | |||||||||
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| 公開日 | 2021-12-08 | |||||||||
| タイトル | ||||||||||
| タイトル | 〈Articles〉Theory of Conjectural Variation in Oligopolistic Price ―Application to Japanese Beer Industry under Covid-19 Crisis― | |||||||||
| 言語 | en | |||||||||
| 著者 |
渡辺, 奏明
× 渡辺, 奏明
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| 言語 | ||||||||||
| 言語 | eng | |||||||||
| キーワード | ||||||||||
| 主題 | Japanese Beer Industry, Homogeneous Oligopolistic Market, Conjectural Variation | |||||||||
| 資源タイプ | ||||||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||||||
| 資源タイプ | departmental bulletin paper | |||||||||
| 著者(英) | ||||||||||
| 言語 | en | |||||||||
| 値 | Watanabe, Yasuaki | |||||||||
| 著者 所属 | ||||||||||
| 値 | 近畿大学経営学部; 教授 | |||||||||
| 著者所属(翻訳) | ||||||||||
| 値 | Kindai University | |||||||||
| 版 | ||||||||||
| 出版タイプ | NA | |||||||||
| 出版タイプResource | http://purl.org/coar/version/c_be7fb7dd8ff6fe43 | |||||||||
| 出版者 名前 | ||||||||||
| 出版者 | 近畿大学商経学会 | |||||||||
| 書誌情報 |
商経学叢 en : Shokei-gakuso: Journal of Business Studies 巻 67, 号 3, p. 139-153, 発行日 2021-03-31 |
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| 収録物識別子タイプ | ISSN | |||||||||
| 収録物識別子 | 04502825 | |||||||||
| 抄録 | ||||||||||
| 内容記述タイプ | Abstract | |||||||||
| 内容記述 | [Abstract] In the present paper, we investigate the impact of the Covid-19 crisis on the supply of beer in Japan. In Japan, beer industries are mainly controlled by four companies, namely Asahi, Kirin,Suntory,and Sapporo. We grasp this market concentration on a few companies as an "oligopoly," and we further describe the situation as a homogeneous oligopolistic market. In such a market, one of the market leaders will show awareness of the impact of changes in supply and demand on the other members of the oligarchy. We use the concept of "conjectural variation" to describe the effect of such inter-firm awareness. Suppose that the supply level of Asahi is descreased due to the Covid-19 crisis. If this situation occurs, how will it affect another beer company's price of the same product? Conjectural variation refers to Asahi's expectation in regard to the volatility of another beer company's supply levels that will result from Asahi's decrease (or increase) of its own supply level. The present paper holds that, assuming each company determines its supply level to maximize its profit in a homogeneous oligopolistic market, the price level will be determined by three factors: elasticity of price, marginal cost and conjectual variation. Here, we add three further assumptions. First, price elasticity of a certain product is temporarily constant, regardless of the level of total demand. Second, marginal cost in each company is constant, regardless of the production level within its production capacity. Third, conjectural variation in each company is constant in each fiscal term. Based on these three assumptions, price will be determined prior to demand level. Finally, we investigate how change in conjectural variation affects the price level. We find that, if a company's marginal cost is minimized, the increase (or decrease) of the company's conjectural variation will co-occur with an increase (or decrease) of price level, provided that other conditions are equal. | |||||||||
| フォーマット | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | application/pdf | |||||||||
