Text-Based Network Industries and Endogenous Product Differentiation

We study how firms differ from their competitors using new time-varying measures of product similarity based on text-based analysis of firm 10-K product descriptions. This year-by-year set of product similarity measures allows us to generate a new set of industries in which firms can have their own...

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Bibliographic Details
Published in:The Journal of political economy 2016-10, Vol.124 (5), p.1423-1465
Main Authors: Hoberg, Gerard, Phillips, Gordon
Format: Article
Language:English
Subjects:
1997-2008
Advertisements
Advertising
Companies
Competition
Competitors
Differentiation
Economic theory
Endogenous
Political economy
Product differentiation
R&D
Research & development
Studies
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