Abstract
This paper uses the comparative statics method of testing for a monopoly equilibrium to track the competitiveness of the US cigarette industry between 1955 and 1990. The degree of competition ranged from somewhat less than a Coumot–Nash equilibrium would imply to somewhat more. Although the industry's behavior was highly autocorrelated, there were periodic reversions to behavior that was much more competitive than the trend
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More From: International Journal of the Economics of Business
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