The home market, trade, and industrial structure

Article Abstract:

Research was conducted to examine the assumption that large markets will have an advantage over small markets in industrial production with focus on the relative costs of trading differentiated against homogeneous goods. Statistics reveal that transport costs taken alone suggest that the relative costs of trade are unusually low for differentiated goods. Results provide strong evidence that nonconventional trade costs matter for international exchange.

Markets (Economics)

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Contracts as a barrier to entry: comment

Article Abstract:

Incumbent firms in a given industry function as barriers to entry when they prevent some lower cost producers from entering the market by negotiating long-term contracts with buyers. Buyers gain transfer surplus from such contracts without affecting their current assets. These conditions indicate more entry as a greater cost. However, such long-term contracts actually define cost signalling with less market entry.

Barriers to entry (Industrial organization), Barriers to entry, Cost (Economics), Costs (Economics)

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