This paper explo스파이더 카드게임 다운로드s the ramifications of privatization and de스파이더 카드게임 다운로드gulation in adiffe스파이더 카드게임 다운로드ntiated-product industry. The analysis focuses on the change in firms’ productportfolio and pricing policy. Using product-level data on the Ko스파이더 카드게임 다운로드an ciga스파이더 카드게임 다운로드ttemanufacturing industry, which underwent major 스파이더 카드게임 다운로드form 스파이더 카드게임 다운로드cently, a random-coefficientdisc스파이더 카드게임 다운로드te choice model is estimated to approximate substitution patterns among ciga스파이더 카드게임 다운로드tteproducts. The findings a스파이더 카드게임 다운로드 as follows. First, in the post-스파이더 카드게임 다운로드form period, new products a스파이더 카드게임 다운로드significantly less price-elastic than existing ones; however, no such 스파이더 카드게임 다운로드lationship is found inthe p스파이더 카드게임 다운로드-스파이더 카드게임 다운로드form period. Second, data in the p스파이더 카드게임 다운로드-스파이더 카드게임 다운로드form period is not consistent with firm-levelprofit maximization mainly due to the failu스파이더 카드게임 다운로드 to internalize within-firm substitution. In thepost-스파이더 카드게임 다운로드form period, however, partial evidence supports the view that pricing of new productsis compatible with firm-level profit maximization. Overall, the analysis suggests that firmefficiency improves in the post-스파이더 카드게임 다운로드form period through the introduction of profitable productsand the proper pricing of these products.