Download or read book Essays in Industrial Organization Under Digital Economy written by Tianchi Li and published by . This book was released on 2021* with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Industrial Organization and the Digital Economy written by Gerhard Illing and published by MIT Press. This book was released on 2006 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theoretical and factual studies of ways that the rapidly evolving digital economy has changed the structure of different industries, focusing on the software and music industries.

Download or read book Essays on the Industrial Organization of the Digital Economy written by Michael Rolland Sullivan and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent years have witnessed a surge in the significance of digital platforms and online retailers. The analysis of digital firms and the industries in which they compete is useful for both furthering general economic knowledge and for informing policy. First, digital firms' activities incidentally generate digitized data that facilitate the empirical analysis of economic concepts applying to settings traditional and digital alike. Examples of such concepts include network externalities, pass-through of tariffs in vertical relationships, and consumer search. In addition, digital firms differ from traditional firms in ways that matter for the effects of regulation; this makes an understanding of digital firms crucial for intelligent policymaking in contemporary industries. To illustrate, the relative values of the fees that digital platforms charge on different sides of a market depend on industry features distinctive to platform markets, including network externalities and capacity for multihoming. The effects of platform fee regulations depend on these distinctive features. Additionally, the extent of search frictions and of seller differentiation in e-commerce may differ from those in brick-and-mortar retail. These differences have implications for the efficacy of interventions intended to remedy retailer market power -- e.g., if search frictions are low at baseline in e-commerce, then informational interventions may do little to intensify price competition among online retailers. In recognition of the value of understanding digital firms, I empirically characterize digital platform and e-commerce markets in this dissertation. This analysis includes assessments of (i) the welfare impacts of digital firms and (ii) the effects of policies targeting these firms. To study digital firms, I collect data from varied sources and develop empirical models of firm competition and consumer behaviour.In the first chapter, I evaluate caps on the commissions that food delivery platforms charge to restaurants. Commission caps may entice restaurants to join platforms, thereby benefitting consumers who value variety in platforms' restaurant listings. A reduction in platform commissions may also lead restaurants to lower their prices, further benefitting consumers. But commission caps may lead platforms to raise their consumer fees, thereby reducing consumer ordering on platforms and consequently platforms' value to restaurants. The net effects of caps on restaurant and consumer welfare are thus uncertain. To estimate caps' effects, I assemble data on restaurant orders, platform adoption, and platform fees. An initial analysis of the data suggests that caps raise platforms' consumer fees, reduce ordering on platforms, and lead restaurants to join platforms. To analyze these effects, I develop a model of platform pricing, restaurant pricing, platform adoption by restaurants, and consumer ordering. Counterfactual simulations using the estimated model imply that commission caps benefit restaurants at the expense of consumers and platforms. I estimate a total welfare reduction of caps equal to 6.2% of participant surplus from platforms.In the second chapter, I empirically evaluate the contributions of search frictions and presearch seller differentiation to limited consumer search and markups in e-commerce. The internet facilitates consumer learning and allows firms sell products without physical stores. These conditions seem capable of inducing high consumer awareness and cut-throat price competition. In practice, though, consumers exhibit limited consideration in online markets and often pay significantly above the minimum available price for a product. High search costs could explain these facts, as could pre-search seller differentiation: consumers with little aversion to search may not visit a store they believe they are unlikely to purchase from based on information known prior to search. I assess these explanations for limited consideration and market power using a model of sequential consumer search and retailer price competition. I estimate this model on data describing browsing and transactions in contact lens e-commerce. I find that pre-search seller differentiation, not search costs, is primarily responsible for limited consideration and market power in contact lens e-commerce.In the third chapter, I characterize the identifiability of demand models with network externalities. Guided by my identification analysis, I empirically evaluate how network externalities shape the effects of consolidation among US dating websites. Network externalities often arise in differentiated products markets, and especially in platform markets. I show that demand models with network externalities are generally not identified with market-level data alone. This result reflects the impossibility of independently varying product characteristics and market shares at the market level. However, an extension of results in Berry and Haile (2023) establishes that demand models with network externalities are identified under reasonable conditions with microdata linking consumers' decisions and characteristics. I estimate demand for dating websites using online browsing microdata. The estimates imply that a site's user values a 10% increase in site usership at USD6.34/month. I find that welfare losses from price rises outweigh gains from network externalities associated with monopolization. Additionally, I find that--due to platform differentiation--a firm earns higher profits from joint ownership of two large dating sites when it does not integrate these sites.

Download or read book Essays in Experimental Industrial Organization on Economic Issues of the Digital Age written by Michel Tolksdorf and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Industrial Organization and the Digital Economy written by Gerhard Illing and published by Mit Press. This book was released on 2006-07 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theoretical and factual studies of ways that the rapidly evolving digital economy has changed the structure of different industries, focusing on the software and music industries.

Download or read book Economic Analysis of the Digital Economy written by Avi Goldfarb and published by University of Chicago Press. This book was released on 2015-05-08 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a small and growing literature that explores the impact of digitization in a variety of contexts, but its economic consequences, surprisingly, remain poorly understood. This volume aims to set the agenda for research in the economics of digitization, with each chapter identifying a promising area of research. "Economics of Digitization "identifies urgent topics with research already underway that warrant further exploration from economists. In addition to the growing importance of digitization itself, digital technologies have some features that suggest that many well-studied economic models may not apply and, indeed, so many aspects of the digital economy throw normal economics in a loop. "Economics of Digitization" will be one of the first to focus on the economic implications of digitization and to bring together leading scholars in the economics of digitization to explore emerging research.

Download or read book Essays in Industrial Organization and Political Economy written by Vinayak Iyer and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We study how and why these two features make the market more efficient; and explore how alternate pricing and matching rules can improve outcomes further. To this end, we develop a structural model of the ridesharing market with four components: (1) dynamically optimizing drivers who make entry, exit and search decisions; (2) stochastic demand; (3) surge pricing rule and (4) a matching technology. Relative to our benchmark model, surge pricing generates large gains for all agents; primarily during late nights. This is driven by the role surge plays in inducing drivers to enter the market. In contrast, centralized matching reduces match frictions and increases surplus for consumers, drivers, and the ridesharing platform, irrespective of the time of the day. We then show that a simple, more flexible pricing rule can generate even larger welfare gains for all agents. Our results highlight how and why centralized matching and surge pricing are able to make the market more efficient. We conclude by drawing policy implications for improving the competitiveness between taxis and ridesharing platforms.

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 The Digital Economy written by Don Tapscott and published by McGraw-Hill Companies. This book was released on 1996 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looks at how the Internet is affecting businesses, education, and government, touching on the twelve themes of the new economy and privacy issues

Download or read book Digital Business Models in Industrial Ecosystems written by Kai-Ingo Voigt and published by Springer Nature. This book was released on 2021-10-20 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, digital business models have frequently been the subject of academic and practical discourse. The increasing interconnectivity across the entire supply chain, which is subsumed under the term Industry 4.0, can unlock even farther-reaching potentials for digital business models, affecting entire supply chains and ecosystems. This book examines the specific challenges and obstacles that supply chain and ecosystem management poses with regard to the development of digital business models. The top-quality contributions gathered here focus on the successful implementation of Industry 4.0 in digital business models for industrial organizations in a European context, making the book a valuable asset for researchers and practitioners alike.

Download or read book Essays on Industrial Organization and Development Economics written by Andrea Szabo and published by . This book was released on 2010 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in the Economics of Industrial Organization and Asymmetric Information written by Pinaki Sankar Bose and published by . This book was released on 1990 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Industrial Organization written by Hyunsoo Kim and published by . This book was released on 2018 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Industrial Organization written by Hongkai Zhang (Ph. D.) and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis consists of three chapters on information transmission and utilization in marketplaces and their implications on firm competition and quality discovery. The first chapter analyzes the dynamic effect of sponsored search advertising on quality discovery on the Taobao.com retail platform. In a stylized model, a new product's boosted exposure from sponsored search ads could help the platform to infer how well the product converts exposure to sales (the quality measure) and award top organic search ranks accordingly. Hence, sellers with higher private quality signals would bid more aggressively for sponsored ads, which accelerates the platform's discovery of these high-quality products. An empirical analysis echoes the stylized model and reveal a synergy between the platform's PC and mobile interfaces. The second chapter (co-authored with Sara Fisher Ellison and Christopher M Snyder) studies price dynamics for computer components sold on a price-comparison website. We estimate a dynamic model of competition, backing out structural estimates of managerial frictions. The estimated frictions are substantial, concentrated in the act of monitoring market conditions rather than entering a new price. Coupled with supporting reduced-form statistical evidence, our analysis provides a window into the process of managerial price setting and the microfoundation of pricing inertia, issues of growing interest in industrial organization and macroeconomics. The third chapter analyzes the revelation of hard information in a buyer-seller relationship. The seller can choose whether and when to credibly reveal quality information and some buyers, called prosumers, have greater taste for quality than others. This paper first analyzes an alternating bargaining game allowing endogenous delay between communications in the fashion of Admati and Perry(1987), and constructs an equilibrium with delayed revelation of quality. The paper then analyzes an informed principal problem and found that under certain conditions, both seller types choose the same truth-telling mechanism that maximizes the revenue of the seller type with high quality. In both games, a high quality seller hides his quality information before the buyer acts in order to extract surplus from prosumers.

Download or read book Essays in Industrial Organization written by Adam James Smith and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1 of this dissertation explores the tradeoff digital goods platforms face when deciding whether to allocate visibility to established products of known quality or to new products of unknown quality, where quality must be learned by observing the behavior of users. Using high frequency data on views and downloads from Nexus Mods, a platform for mods (user generated content) for the popular video game Skyrim, I estimate a structural model of search, downloads, and expectation formation. I find that the platform is currently over-experimenting: by reducing the visibility of new mods they could increase aggregate downloads by at least 4%. Consumer search behavior is sensitive to the level of experimentation, suggesting platforms need to consider equilibrium effects when deciding on how much visibility to give new products. Chapter 2 studies the market for undergraduate college admissions. The uneven geographic distribution of colleges in the United States endows students with uneven access to colleges depending on where they live. To examine the implication of this for student welfare, we estimate a model of high school students' college choices, allowing for rich heterogeneity in students' preferences for college attributes. We use data on students' enrollment decisions and application decisions-i.e., the sets of colleges to which they applied-to identify the distribution of students' preferences, and find that place indeed matters: the expected value of applying to college differs dramatically across states and across counties within a state. This is a joint project with Chao Fu, Junjie Guo, and Alan Sorensen and is forthcoming in the Journal of Monetary Economics.

Download or read book Fourth Industrial Revolution and Business Dynamics written by Nasser Rashad Al Mawali and published by Palgrave Macmillan. This book was released on 2021-11-16 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book explains strategic issues, trends, challenges, and future scenario of global economy in the light of Fourth Industrial Revolution. It consists of insightful scientific essays authored by scholars and practitioners from business, technology, and economics area. The book contributes to business education by means of research, critical and theoretical reviews of issues in Fourth Industrial Revolution.

Download or read book Essays on Industrial Organization and Platform Economy written by Qifan Huang and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: My dissertation consists of four chapters which address important questions in empirical industrial organization and platform economy. Chapter 1 presents the joint work with Castiel Chen Zhuang and Zhentong Lu. This chapter studies the “Zero-Markup Drug Policy” (ZMDP) in China’s pharmaceutical industry. The main motivation of the policy is to break the integration between drug prescription and dispensation so that the known agency problem between physicians and patients can be alleviated. This chapter estimates a structural model of China’s prescription drug market and quantifies the general equilibrium effects of the ZMDP on drug prices, patient welfare, firm profitability and market structure. Our results suggest that: physicians’ prescription decisions are more sensitive to patients’ out-of- pocket costs than hospitals’ drug markups, unless the coinsurance rate is above 35 percent; pricing is mostly dominated by provincial governments that are assumed to represent the joint welfare of patients and physicians; the ZMDP makes generic drugs relatively more favorable and thus more profitable; while total sales is negatively affected by the ZMDP, overall patient welfare improves by a sizable amount because of the lowered prices. Chapter 2 is a joint work with Castiel Chen Zhuang, which was originally published in Economics of Transition and Institutional Change [Huang and Zhuang, 2022]. This chapter tests the famous theory by Acemoglu and Pischke [1998]. We estimate a structural model where labor quality can be affected by firm’s optimal training decision. We use the data of China’s manufacturing enterprises in an era of privatization (2004-2007). Training increases both marginal labor product and wages, but the productivity premium is larger due to the labour market rigidity, which explains the voluntary provision of on-the-job training and supports the theory by Acemoglu and Pischke [1998]. Our results also indicate that: state-controlled enterprises’ investment in training could be both privately and socially efficient; unions play a positive role in facilitating training and increasing workers’ bargaining power; female workers and low-educated workers have higher training premium. Chapter 3 is based on the joint work with Castiel Chen Zhuang and Saizi Xiao, which has been accepted by Applied Economics [Huang et al., 2022]. This chapter investigates how demand, pricing and income distribution in digital platforms respond to the two-sided Covid-19 shock. We focus on a live-streaming platform, where fans could send gifts to streamers. We resort to the generalized quantile regression in Powell [2019] to quantify the unconditional quantile treatment effects of Covid-19 on the virtual gifting. Our result suggests that the pandemic severity on the fans side instead of the anchors side increases virtual gifting. Based on this result, our theoretical model predicts that the platform would cross-subside the anchors. This prediction is consistent with the reality, where the platform spent 1 billion RMB in subsiding anchors. Our estimation results also suggest that Covid-19 leads to the de-polarization of the anchors’ gift income distribution, while other researches find Covid-19 exacerbates income polarization. One possible explanation to this puzzle is that the digital platform serves as the sanctuary and provides flexible working opportunities for those relatively unlucky people. Chapter 4 describes a joint work with Ying-Chin Chen and Castiel Chen Zhuang . It provides new evidence to a classical economics question: how would market competition affect product variety? We propose a novel multi-task graph convolutional neural network approach to measure market competition intensity. To get a clean identification of the treatment effect, we leverage a natural experiment in a live-commerce platform: the account of a top live streamer with strong market power was suspended by accident. Our results indicate that market competition increases product variety, while retail prices are sticky and do not adjust to the exogenous competition shock.