Download or read book Essays in Industrial Organization Regulation and Investments written by Juliane Fudickar and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Industrial Organization and Regulation written by Luís Martins-Barata Cabral and published by . This book was released on 1989 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Breaking Up Bell written by Robert Bornholz and published by North Holland. This book was released on 1983 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Industrial Organization written by Burçin Ünel and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulation of transfer payments alone generally will not induce optimal investment levels and competitive retail prices. The last essay examines settings where input prices are negotiated by industry suppliers, rather than dictated by regulators. It shows that the input buyer may agree to pay a high price for an input because the high price serves to reduce the intensity of retail price competition with the input seller. Full exploitation of retail customers can result. However, retail price regulation, competition among buyers, and product heterogeneity all can limit the extraction of consumer surplus. It also identifies conditions under which input price negotiations will fail to produce a mutually agreeable input price.

Download or read book Essays in Industrial Organization and Regulation written by Daniel Halbheer and published by . This book was released on 2006 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Industrial Organization written by Heechul Min and published by . This book was released on 2004 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Regulation Institutions and Industrial Organization written by Mario Esteban Bergara and published by . This book was released on 1998 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Industrial Organization written by Adriana Gama Velazquez and published by . This book was released on 2014 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: It shows that firms with compatible networks produce higher quantities than firms with incompatible networks. However, the relationship between prices, profits and consumer surplus is ambiguous, but social welfare is always higher in markets with completely compatible networks. Finally, the third chapter analyzes the incentives to invest in R&D under two environmental policy instruments: the emission and performance standards, in a Cournot model of competition between two symmetric firms. These firms are subject to environmental regulations as their production of a homogeneous good entails pollution. Unlike a few models of output market available in the literature, this approach does not measure the environmental incentives using firms' aggregate cost savings. Instead, it compares the levels of social welfare obtained under both policy instruments. From the derived subgame perfect equilibria of the two games, each game associated with a different instrument, this chapter shows that social welfare under performance standard dominates that under emission standard. It also finds that further comparisons, in particular, the comparison of the investment in R&D, are ambiguous and not aligned with the welfare comparison.

Download or read book Essays on Industrial Organization written by Geunwook Paek and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies a range of important policy questions regarding market competition and pricing regulation. In the first chapter, I analyze the effect of market competition on rate of innovation in the Dynamic Random Access Memory (DRAM) market. In this industry, the market has been consolidating over the last two decades. The number of DRAM producers decreased from over 20 in the early 1990s to around 5 now. Policy makers and antitrust agencies are concerned about effects of market consolidation on innovation and consumer price. Thus, it is an important policy question to understand how allowing further mergers in this industry would affect firms' incentive to innovate. To tackle this problem, I estimate a dynamic oligopoly model where firms optimally choose investment and production levels. The model incorporates two key features of the DRAM market. First, innovation becomes increasingly more difficult as process technology advances. Second, via learning-by-doing, production costs gradually decrease with production experience at each technology generation. I find that in the earlier periods of the study, there is a higher rate of innovation in a more competitive market (i.e., duopoly or triopoly) than in a monopoly. However, the relationship is reversed as innovation becomes more difficult. Consumer welfare is always higher in a more competitive market because total production is higher and price is lower. Additional counterfactuals examine how the two industry features affect the innovation-competition relationship. In Chapter 2, I analyze the welfare effects of allowing wholesale price discrimination in the US beer industry. The current US state law requires uniform pricing in the wholesale beer market. This means that a beer distributor has to set a single price for the same product across all the retailers it serves. But some large retailers often argue that they can negotiate better price if wholesale price discrimination is allowed. Costco actually filed a suit in Washington in 2004, but the court uphold the existing regulations. This industry background suggests that understanding the effects of allowing wholesale price discrimination is an important policy question. In theory, wholesale price discrimination can increase or decrease welfare. Welfare may increase if there are differences in price elasticity of demand across markets. In contrast, welfare may decrease if there are differences in downstream costs. Thus, how wholesale price discrimination affects welfare remains an empirical question. Using retail sales and wholesale price data from the Connecticut beer market, where wholesale price discrimination is prohibited, I estimate a structural model of demand and supply. With the estimated demand parameters and firms' costs, I simulate a counterfactual policy of allowing wholesale price discrimination in this market. I find that wholesale prices increase more in markets with lower price elasticities, and with lower downstream costs. Wholesalers are better off while consumers and retailers are worse off. The total welfare decreases about 1.14% when wholesale price discrimination is allowed.

Download or read book Essays in Industrial Organization Marketing and Financial Economics written by Toker Doganoglu and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on the Role of Heterogeneity in Industrial Organization International Trade and Environmental Economics written by Xin Zhao and published by . This book was released on 2017 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three studies on trade, industrial organization, and environmental economics. The first study investigates endogenous cartel formation with market entry and firm heterogeneity. We show why large firms do not join a cartel in some industries and choose to compete rather than cooperate with a cartel. We illustrate that, under certain conditions, only firms with intermediate productivity benefit from joining a cartel; and low-productive firms cannot compete efficiently for production quota in the cartel and hence choose to stay out. High-productive firms prefer to stay out because building excess capacity in cartel lowers their profits.

Download or read book Essays on Industrial Organization and Financial Economics written by Xiaoye (Phoebe) Tian and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation explores how imperfections in financial markets affect decisions made by market participants and subsequent market outcomes. The three chapters in this dissertation focus on three different financial markets: corporate lending market for small firms in China, refinance market for residential mortgage in US and retail investment product market in China. The first chapter studies inefficiencies arising from the lack of long-term contracting between borrower (firm) and lender (bank). I draw on a proprietary data from a Chinese bank, which only offers one-year term loans for small firms. How, and to what extent can default risk be reduced if they were able to enter long-term contract? I develop a dynamic model of business lending to analyze borrower's default incentives in an environment with imperfect information and learning. Estimation of the structural model implies that over seventy percent of observed defaults are strategic borrower defaults. In the counterfactual model, banks are able to offer long-term contingent contract which involves a schedule of future lending terms that can vary with time and firm's financial status. I find that optimal long-term contract has two main benefits: First, by frontloading prices, it alleviates agency frictions and disincentivizes willful defaults. Second, by cross-subsidization, it provides insurance for firms against negative shocks. As a result, with long-term contracting 17% fewer firms default, and total firm outputs expand by 2.6%. The second chapter (joint with Chen Zheng) studies the unintended consequences arising from program design, and how it augments the market power of incumbent lenders, in the context of a federal program called Home Affordable Refinance Program. We build a dynamic discrete choice model of refinance decision where the payoff is generated from a search and negotiation process. We estimate the model using data on program participation and pricing decision. The estimation exploits a significant change to the program design that gives exogenous variation in the competitive advantage of incumbent lenders under the program. In a counterfactual where the advantage granted by program design is shut down, we find that it leads to an average welfare improvement of 4,977. The insight from this study could apply to other policies whose implementation depends on intermediaries with incumbency advantage with respect to targeted agents. In the third chapter, I develop an empirical structural model of the wealth management sector in China in order to analyze the welfare impact of the proposed regulation aimed at ending the prevalence of the implicit guarantee in this industry. The implicit guarantee means the bank implicitly promises the returns on wealth management products to investors, and investors choose from differentiated wealth management products based on characteristics including guaranteed returns. In the counterfactual post-regulation scenario, the bank does not guarantee returns, and it only serves as an intermediary charging a constant fee, shifting the underlying risk of investment to investors. The change of consumer welfare hinges on two forces-the adjustment of the bank's markups and investor's disutility of risk. Empirical findings suggest that the markup decreases moderately, but not enough to completely compensate for investor's aversion of risk, so consumer surplus drops slightly as a result of the regulation.

Download or read book Essays on Microeconomics and Industrial Organisation written by Pablo Coto-Millán and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays on Microeconomics and Industrial Organisation aim to serve as a source and work of reference and consultation for the field of Microeconomics in general and of Industrial Organisation in particular. Traditionally, Microeconomics is essentially taught as theory and hardly ever an estimation of a demand, production and cost function is offered . Over the last two decades, however, Microeconomics has greatly broadened its field of empirical application. Therefore, this text combines microeconomic theories with a variety of empirical cases. The standardised microeconomic analysis of demand, production and costs is set forth along with appropriate econometric techniques. The text consists of four parts: Demand, Production and Costs (Supply), Market and Industrial Structure and Failure of Market and Industrial Regulation. It includes eleven new chapters with respect to the first edition.

Download or read book Technology Innovation and Industrial Economics Institutionalist Perspectives written by William E. Cole and published by Springer Science & Business Media. This book was released on 1998-07-31 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technology, Innovation and Industrial Economics: Institutional Perspectives, inspired by the work of William E. Cole, Professor Emeritus at the University of Tennessee at Knoxville, extends his work with essays on technology, innovation and industrial economics from an Institutionalist perspective. The managerial style, innovational practices and industrial setting of the continuous improvement firm are central to several chapters. This volume also features innovation and technology in Latin America, Adam Smith's writing on entrepreneurship and a comparison of American and European Institutionalism. The topics of technology, innovation, industrial organization and industrial policy are being widely discussed and debated in today's literature, but seldom from an Institutionalist perspective. The purpose of this book is to reduce substantially this missing dimension in the ongoing debates on these important issues.

Download or read book Essays in Industrial Organization Growth and the Environment written by and published by . This book was released on 2009 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three essays which examine the effects of government intervention into the economy and the resulting effects on the environment and on growth. These essays use natural variation in observed behaviors and outcomes to gauge the impact of government action using either a reduced form or structural model. The first essay measures the environmental benefits of renewable energy subsidies. Production subsidies for renewable energy have been a popular program due to their perceived environmental benefits. Wind energy in particular has taken advantage of federal subsidies. However, little empirical research has been conducted which would quantify such benefits. Taking investment in wind capacity as given, I am able to identify the short run substitution patterns between wind power and conventional power for large electricity grid in Texas. I exploit the randomness of wind to identify plant level substitution of wind generated electricity for conventionally generated electricity. I then quantify the avoided emissions and associated costs using plant level emissions information, market clearing prices for pollution permits, and estimates of the social costs of pollution. The end result is the value of avoided emissions due to government subsidies. I find that the value of subsidies hinges on the value placed on reducing carbon dioxide emissions. The second essay assess the effectiveness of potential environmental regulations to reduce carbon dioxide emissions from the electricity producers. Climate change, driven by rising carbon dioxide (CO.

Download or read book Mainstreams in Industrial Organization written by H.W. de Jong and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: The present two volumes contain the essays and part of the discussions as presented at the conference on Mainstreams in Industrial Organiza tion, held at the University of Amsterdam, 21-23 August 1985. The thema was chosen because the field of studies commonly designated "industrial organization" in the Anglo-Saxon countries, or "market theory" in Continental Europe, has experienced important alterations during the past decade. Partly this reflects changing theoretical views inside the field, in which shifts in the core concepts have occurred and different emphasis is laid on time-honoured views and results. Partly, critical views have been voiced from outside the field. As in all open scientific debate, they have to be weighed and, if necessary, taken into account. Partly also, diver gent developments in thinking between the Anglo-Saxon, European and Japanese areas need to be considered, because both the problems and the ways of approaching them still differ. The variety of views, theori~s and results is testimony to the vitality of this field of economics; variety is generated by the creative endeavours, from which the chaff is being beaten out by critical discussions. That is especially true for the concept of competition itself, which industrial organization economists are debating intensively.

Download or read book Handbook of Industrial Organization written by Mark Armstrong and published by Elsevier. This book was released on 2007-10-05 with total page 943 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is Volume 3 of the Handbook of Industrial Organization series (HIO). Volumes 1 & 2 published simultaneously in 1989 and many of the chapters were widely cited and appeared on graduate reading lists. Since the first volumes published, the field of industrial organization has continued to evolve and this volume fills the gaps. While the first two volumes of HIO contain much more discussion of the theoretical literature than of the empirical literature, it was representative of the field at that time. Since then, the empirical literature has flourished, while the theoretical literature has continued to grow, and this new volume reflects that change of emphasis. Thie volume is an excellent reference and teaching supplement for industrial organization or industrial economics, the microeconomics field that focuses on business behavior and its implications for both market structures and processes, and for related public policies. *Part of the renowned Handbooks in Economics series *Chapters are contributed by some of the leading experts in their fields *A source, reference and teaching supplement for industrial organizations or industrial economists