Article1983

Competitive Market Structure Analysis: Principal Partitioning of Revealed Substitutabilities

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Consumer Market Behavior and Pricing Economics of Agriculture and Food Markets Consumer Behavior in Brand Consumption and Identification

Abstract

In this paper, Competitive Market Structure Analysis (CMSA) is introduced. The approach is based on a behavioral model of revealed consumer substitution and utilizes principal component analysis of revealed substitutabilities to identify groups of competing brands or products in a market. The proposed partitioning criterion, the Index of Revealed Substitutability (IRS), yields estimates of the degrees of competition between all pairs of items in a market through use of household interpurchase times. The proposed partitioning methodology, Principal Partitioning (PP), identifies groups of competing items through the use of principal component analysis of IRS values. Through combination of the partitioning criterion measure and methodology, competitive market structures are analytically identified.

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References

1979Customer-Oriented Approaches to Identifying Product-Markets 1980A Multibrand Stochastic Model Compounding Heterogeneous Erlang Timing and Multinomial Choice Processes 1973A Consumer Purchasing Model with Erlang Inter-Purchase Times

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