Market Structure and Quality: An Application to the Banking Industry

Topics:
Commercial Banking,
Strategic Planning and Analysis
Tags:
Antitrust,
Bank,
Banking,
Business Operations,
Corporate Law,
Federal Reserve Board,
Financial Services
Source:
The Federal Reserve Board

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Overview: This paper presents empirical evidence consistent with the predictions of the endogenous sunk cost model of Sutton (1991), with an application to banks. In particular, banking markets remain concentrated regardless of market size. Given an asymmetric oligopoly where dominant and fringe firms coexist, the number of dominant banks remains unchanged with market size, with only the number of fringe banks varying across markets. The analysis has implications for antitrust policy.

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Format: PDF | Size: 1,296KB | Date: Jan 2003 | Pages: 40

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