WORK IN PROGRESS Bargaining Power as a Source of Competitive Advantage: Empirical Evidence from Medical Devices

∗Data for this research was generously provided by Millennium Research Group (www.mrg.net). Many thanks to Adam Brandenburger, Ali Yurukoglu, Allan Collard-Wexler, Ariel Pakes, Catherine de Fontenay, Gus Stuart, Hong Luo, John Asker, Lúıs Cabral, Melissa Schilling, Michael Katz, and seminar audiences at NYU Stern’s Management Student Brownbag, NYU Stern NASS, and NYU GSAS Microeconomics Student Seminar for helpful comments. Andy Cron, John Brumleve, Mark Bly, and Rob Tumarkin have been especially helpful in teaching me about medical device manufacturing and sales. Craig DeOdene and Dr. Frederick Feit of NYU Medical Center were also beyond generous with their time and knowledge regarding hospital purchasing and the inner workings of a cardiac catheterization lab.