Description
Title: The Simulation of Heterogeneous Firms’ Market Structure
Abstract: The paper focuses on the requirement for economic policy analysts to evaluate how and whether particular measures can affect market development in a way that results in increased wealth. This study focuses on the well-documented firm heterogeneity that has a significant impact on their capacity for competition, ability to alter market structure, and choice to engage in trade. Ottaviano demand function was used as the initial attributes and features of the simulated model. However, by using distributional functions to model both market demand and the demand for each firm’s product, we adopted a different strategy with regard to demand and its elasticity in the market. The model, which takes into account how the market structure changes, emphasizes the significance of endowment factors and suggests that firms’ competitive abilities play a crucial role. What’s more significant is that it influences how long it takes for the market structure to form. Even though the model does not capture all aspects of a firm’s heterogeneity, it could help economic policymakers decide whether to support a company’s expansion while also keeping it competitive to prevent it from collecting Ricardian rents.
Keywords: dynamic efficiency; market structure; model simulation; eterogeneous firms
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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