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Market-Structure and the Empirical Specification of Profit Margins

Research output: Contribution to Journal/MagazineJournal articlepeer-review

<mark>Journal publication date</mark>02/1991
<mark>Journal</mark>Economics Letters
Issue number2
Number of pages5
Pages (from-to)227-231
Publication StatusPublished
<mark>Original language</mark>English


We present evidence from a panel of U.K. manufacturing industries to test the sensitivity of the margins-concentration relationship to specification changes in the dependent variable. Instrumental variable estimates demonstrate that a positive association between profit margins and concentration is contingent on how the margin is formulated.