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 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 The Industrial Dynamics of the New Digital Economy written by Jens Frøslev Christensen and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: '. . . this is a stimulating collection that advances thinking on the post-bust digital economy in a measured and scholarly approach. . . The book should be read by those interested in ICT industry dynamics and how a remarkable historical snapshot is starting to be understood.' - Jonathan Sapsed, Technovation 'I commend this book, in the spirit of Keith Pavitt, to all those who wish to understand, to appreciate and to criticize the "New Economy" which now engulfs all our lives.' - From the foreword by Christopher Freeman, Science and Technology Policy Research (SPRU), University of Sussex, UK and Maastricht University, The Netherlands This book investigates the implications of digital technologies on the industrial and business dynamics of modern economies. In-depth studies analyse how deep-rooted work practices of the Old Economy have been dramatically challenged when confronted with the entrepreneurial wave of the New Economy.
Download or read book Competition and Regulation in Network Industries written by Jean-Marc Zogheib and published by . This book was released on 2021-10-13 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: While particularly dynamic and innovative, the digital and telecommunication industries are found to have a great tendency towards concentration, resulting in strong market power and raising concerns from competition and regulatory authorities. In this study focusing on such network industries, Jean-Marc Zogheib explores the interplay between public policy and firms' strategies by combining various tools of theoretical economic analysis adopted from industrial economics, network economics, and platform economics. Mr. Zogheib's thesis consists of three distinct essays: the first chapter examines how merger policy affects firms' entry strategies, the second chapter shifts the focus to public intervention by considering how the coexistence of private and public players affects competition and investment, while the third chapter investigates the role of privacy in competition between digital platforms and the importance of consumer data in the competitive analysis of mergers. This book clearly illustrates how economics can contribute essential building blocks to the construction of competitive reasoning and how the integration of competition law into economic models extended their collective utility. An important read for lawyers and economists alike. The book was awarded the inaugural Concurrences PhD Award in Economics.
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 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 The Fourth Industrial Revolution written by Klaus Schwab and published by Currency. This book was released on 2017-01-03 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolution, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wearable sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manufacturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individuals. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frameworks that advance progress.
Download or read book The Economics of Digital Transformation written by Tessaleno Devezas and published by Springer Nature. This book was released on 2021-02-15 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes an in-depth look at the economics of digital transformation. Presenting a variety of perspectives from experts, it deals with the socioeconomic changes associated with the digital transformation of production systems. The chapters also address the impacts of digital transformation on the sustainable functioning of socioeconomic and environmental systems. Select chapters also investigate the consequences of adopting intelligent learning systems, both in terms of replacing the human labor force. and their effects on the smart digital management and security of cities, places, and people. Lastly, chapters discuss important questions regarding innovations leading to sustainable change.
Download or read book The Digital Innovation Race written by Cecilia Rikap and published by Springer Nature. This book was released on 2021-12-09 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops new theoretical perspectives on the economics and politics of innovation and knowledge in order to capture new trends in modern capitalism. It shows how giant corporations establish themselves as intellectual monopolies and how each of them builds and controls its own corporate innovation system. It presents an analysis of a new form of production where Google, Amazon, Facebook, Apple and Microsoft, and their counterparts in China, extract value and appropriate intellectual rents through privileged access to AI algorithms trained by data from organizations and individuals all around the world. These companies’ specific form of production and rent-seeking takes place at the global level and challenges national governments trying to regulate intellectual monopolies and attempting to build stronger national innovation systems. It is within this context that the authors provide new insights on the complex interplay between corporate and national innovation systems by looking at the US-China conflict, understood as a struggle for global technological supremacy. The book ends with alternative scenarios of global governance and advances policy recommendations as well as calls for social activism. This book will be of interest to students, academics and practitioners (both from national states and international organizations) and professionals working on innovation, digital capitalism and related topics.
Download or read book Digital Economy written by Harbhajan S. Kehal and published by IGI Global. This book was released on 2005-01-01 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation Digital Economy provides information about the socioeconomic aspects of the digital economy. This set of eighteen essays covers the effects of digital economy on business transactions, technology and culture, as well as on education. It also covers various aspects of global production, trade, and investment and the effects of the Internet.
Download or read book Four Essays on Industrial Organization written by Kyungwon Rho and published by . This book was released on 2008 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Download or read book Strategy and Behaviors in the Digital Economy written by Beatrice Orlando and published by BoD – Books on Demand. This book was released on 2020-03-04 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategy and Behaviors in the Digital Economy is a collection of reviewed and relevant research chapters, offering a comprehensive overview of recent developments in the field of Business, Management and Economics. The book comprises single chapters authored by various researchers and edited by an expert active in this research area. All chapters are complete in itself but united under a common research study topic. This publication aims at providing a thorough overview of the latest research efforts by international authors on this field of study, and open new possible research paths for further novel developments.
Download or read book The Global Digital Economy A Comparative Policy Analysis Student Edition written by Holroyd, Carin and published by Cambria Press. This book was released on 2015-01-08 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Note: this is an abridged version of the original book with references removed. The complete edition is also available. This book explores the intersection of public policy and the fast changing digital media economy. Over the last 20 years, digital technologies and digital content have revolutionized many aspects of social, economic and political life around the world. Governments, locked into the policies and programs of the traditional economy, are struggling to respond to this dynamic and commercially unique global ecosystem. This study examines the nature and extent of the digital economy, looking at both the commercial diversity within the sector and the different digital implementations across the world. While the digital engagement of North America is well known, the scale and intensity of digital growth in East Asia is not fully understood not are the transformative changes occurring in parts of Africa. The digital world is marked by the unexpected and rapid re-orientation of economic, social, cultural and political affairs. The digitization of work, for example, has already brought major disruptions within national economies. Governments are struggling to respond, in part because of pressures from the traditional industrial and resource sectors but also because of the unique, somewhat anarchistic nature of the digital content industry. The Global Digital Economy provides a profile of the global digital environment, reviews current government digital policies (with an emphasis on innovative strategies), and offers policy suggestions for national and subnational governments. Countries that respond creatively to the digital economy--like Taiwan, South Korea, Finland and Israel--stand to prosper from the anticipated accelerated growth of the sector. Those nations that struggle to keep pace with the digital infrastructure needs of the new economy and with the potential for employment and business creation stand to fall behind economically. This book provides a policy roadmap for the digital economy and identifies the risks and opportunities of this core sector in the twenty-first-century economy.
Download or read book The Oxford Handbook of the Digital Economy written by Martin Peitz and published by Oxford University Press. This book was released on 2012-08-06 with total page 921 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic analysis of the digital economy has been a rapidly developing research area for more than a decade. Through authoritative examination by leading scholars, this handbook takes a closer look at particular industries, business practices, and policy issues associated with the digital industry. The volume offers an up-to-date account of key topics, discusses open questions, and provides guidance for future research. It offers a blend of theoretical and empirical works that are central to understanding the digital economy. The chapters are presented in four sections, corresponding with four broad themes: 1) infrastructure, standards, and platforms; 2) the transformation of selling, encompassing both the transformation of traditional selling and new, widespread application of tools such as auctions; 3) user-generated content; and 4) threats in the new digital environment. The first section covers infrastructure, standards, and various platform industries that rely heavily on recent developments in electronic data storage and transmission, including software, video games, payment systems, mobile telecommunications, and B2B commerce. The second section takes account of the reduced costs of online retailing that threatens offline retailers, widespread availability of information as it affects pricing and advertising, digital technology as it allows the widespread employment of novel price and non-price strategies (bundling, price discrimination), and auctions. The third section addresses the emergent phenomenon of user-generated content on the Internet, including the functioning of social networks and open source. The fourth section discusses threats arising from digitization and the Internet, namely digital piracy, privacy, and security concerns.
Download or read book Digitization of Economy and Society written by Sudeshna Basu Mukherjee and published by CRC Press. This book was released on 2021-10-21 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new volume looks at a selection of important issues resulting from the digitization of society, which has fundamentally transformed organizations. These new technological innovations are creating new opportunities as well as new challenges. This volume considers the emerging paradigm of digitization in economy and society, which covers a wide spectrum of digitization processes and consequences, accelerated by the current COVID-19 pandemic, the lockdown scenario, and the increase in digitization by individuals, businesses, and governments. The book explores digital social trends, digital marketing, and the service industry, as well as the societal consequences of technologies and solutions to those problems. The diverse topics include the societal impact of digitization on gender issues, virtual relationships, e-government, online privacy, the gig economy (using Uber as an example), work life changes, online education, online media health public service advertisements, loneliness of the elderly, and more. This book is essential reading for students and faculty of social sciences, economics, and management technology to understand the broad dimensions of digitization in our everyday life and the theoretical and practical utilization and outcome of digitization.
