We investigate the strategic pricing for leading brands sold in the carbonated soft drink (CSD) market in the context of a flexible demand specification (i.e. random parameter nested logit) and a structural pricing equation. Our approach does not rely upon the often used ad hoc linear approximations to demand and profit-maximizing first-order conditions. We estimate the structural pricing equation using four different estimators (i.e. OLS, LIML, 2SLS, and GMM) and compare the implied deviation from Bertrand-Nash competition. Our results suggest that retailers, on average, price CSD brands below their cost, likely a result of the competitive retailing environment. We also find CSD wholesalers price their brands significantly more cooperatively than Bertrand-Nash would suggest, thus inflating profits.

在弹性需求规格(即随机参数嵌套logit)和结构性定价方程的背景下，我们研究了在碳酸饮料(CSD)市场上销售的领先品牌的战略定价。我们的方法不依赖于需求和利润最大化的一阶条件下经常使用的临时线性近似。我们使用四种不同的估计器(即OLS、LIML、2SLS和GMM)估计结构性定价方程，并比较隐含的偏离。我们的结果表明，零售商给CSD品牌的价格平均低于成本，这可能是竞争的零售环境的结果。我们还发现，CSD批发商对其品牌的定价明显比伯特兰-纳什建议的合作，从而膨胀利润。