Multi-product firm price and variety response to firm-specific cost shocks

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2023-09-01 DOI:10.1016/j.ijindorg.2023.102984

Alexis Antoniades , Sofronis Clerides , Mingzhi Xu

引用次数: 0

Abstract

A large literature studies how prices respond to changes in market conditions. More recent work examines firm adjustments along the product quality and variety channels. We present a theoretical model of heterogeneous, multi-product firms to characterize the response of firms to idiosyncratic cost shocks along the price and variety channels. The model delivers rich implications and interesting trade-offs between the two channels. Large firms respond to a cost increase by raising both prices and scope. Relative to smaller firms, they respond more through scope than prices. Availability of the variety channel eases pressures to absorb cost changes and increases pass-through.

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多产品企业价格和品种对企业特定成本冲击的响应

大量文献研究价格如何对市场条件的变化作出反应。最近的工作考察了沿着产品质量和品种渠道的公司调整。我们提出了一个异质、多产品企业的理论模型，以表征企业对沿价格和品种渠道的特殊成本冲击的反应。该模型在两个渠道之间提供了丰富的含义和有趣的权衡。大公司通过提高价格和业务范围来应对成本的增加。相对于较小的公司，它们的反应更多是通过范围而不是价格。品种渠道的可用性减轻了吸收成本变化的压力，并增加了传递。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.