Download or read book Entry Pricing and Product Design in an Initially Monopolized Market written by Steven J. Davis and published by . This book was released on 2001 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze entry, pricing and product design in a model with differentiated products. Under plausible conditions, entry into an initially monopolized market leads to higher prices for some, possibly all, consumers. Entry can induce a misallocation of goods to consumers, segment the market in a way that transfers surplus to producers and undermine aggressive pricing by the incumbent. Post entry, firms have strong incentives to modify product designs so as to raise price by strengthening market segmentation. Firms may also forego socially beneficial product improvements in the post-entry equilibrium, because they intensify price competition too much. Multi-product monopoly can lead to better design incentives than the non-cooperative pricing that prevails under competition

Download or read book Entry pricing and product design in an initially monopolized market written by Jean Benielli and published by . This book was released on 2001 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Rural Long Tail Public Service and the Correction Mechanism written by Ji Luo and published by Springer Nature. This book was released on 2021-08-24 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book firstly analyzes the status and characteristics of rural long tail public service and its unbalance in detail. In all, based on the long tail theory, mechanism design theory and resource dependence theory, this book makes an empirical study and basic judgment on the matching of supply and demand of rural long tail public services in China and explores the mechanism of the efficiency of supply and demand affecting the imbalance. This book presents a correction mechanism of rural long tail public demand based on the division of different response subjects and puts forward corresponding policy suggestions. By putting the rural public demand in the “embedded” economic and social system and the development process, this book analyzes its future trend and response path. Then, based on the difference of governance efficiency, this book analyzes the general causes of the unbalance of supply and demand of rural long tail public service. Especially for the representative field of rural public service (e.g., special education, old-age caring, medical care), this book carries out empirical studies (seemingly unrelated regression) to analyze the factors, internal mechanism and basic path of the imbalance of rural long tail public service. Thirdly, through the construction of the imbalance index of rural long tail public service, this book makes an empirical calculation of the severity of this imbalance. This book further puts forward the design of the correction mechanism for the imbalance of rural long tail public service and carries on the reasonable and orderly division for different supply subjects. In the end, this book puts forward the balanced “Internet + NGO” model for rural long tail public service and takes JD.com as an example to expound the operation of the network platform of the correction mechanism.

Download or read book Fairness in Antitrust written by Adi Ayal and published by Bloomsbury Publishing. This book was released on 2014-12-01 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: What drives popular support for state-enforced competition policy? What is it about antitrust law that garners approval from both the public and courts, to the point of demonizing large firms convicted of antitrust offenses? In this book Adi Ayal argues that the populist roots of antitrust are still with us, guiding sentiment towards a legal regime that has otherwise shifted towards economic analysis. Antitrust is very much about fairness and morality; this book assesses how modern policy has hijacked popular support - based on traditional conceptions of political and economic power - to combat market power in narrowly defined micro-markets. Beginning with history, but delving into moral and political philosophy, Professor Ayal shows how arguments concerning fairness in antitrust apply both to monopolists and their victims. Fairness thus requires a balancing test based on context and respecting the rights of all parties involved. While traditionally fairness arguments were used to justify intervention where economic analysis did not, this book assesses them from first principles, to show that pure efficiency analysis is flawed from a moral standpoint when the state intervenes. Protecting weak consumers from strong monopolists may carry rhetorical weight, but the reality of antitrust is that the state is much more powerful than almost all firms it regulates. Protecting the strong from the weak, especially when 'weak' consumers hold legal power and influence, might very well be a moral imperative. This book offers a philosophical account of the conundrum facing competition policy which challenges widely-held yet often implicit and unfounded beliefs.

Download or read book Understanding the Federal Reserve s Proposed Rule on Interchange Fees written by United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit and published by . This book was released on 2011 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Pursuing Sustainability written by Chialin Chen and published by Springer Nature. This book was released on 2021-03-03 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook includes three parts, corresponding to the following three domains of OR/MS research related to sustainability: (i) Systems Design, Innovation, and Technology, (ii) Manufacturing, Logistics, and Transportation, and (iii) Sustainable Natural Resource Management. The first part of the handbook (Chapters 2-6) will focus on the creation and development of sustainable products, services, value chains, and organizations from a systems perspective. Key areas to be covered include Green Design & Innovation, Technology and Engineering Management, Sustainable Value Chain Systems, Sustainability Standards and Performance Evaluation, and Circular Economy and New Research Directions in Sustainability. The second part of the handbook (Chapters 7-11) will concentrate on the major operational and logistic issues faced by today’s industries in pursuing sustainability. Key areas to be covered include Remanufacturing, Reverse Logistics, Closed-Loop Supply Chains, Sustainable Transportation, and New Research Directions in Green Supply Chain Management. The third part of the proposed handbook (Chapters 12-16) will center on major sustainability issues in managing engineering infrastructure and natural resources. Key areas to be covered include Renewable Energy, Sustainable Water Resource, Biofuel Infrastructure, Natural Gas, and New Research Direction in Sustainable Resource Management. The handbook aims to bridge the three main OR/MS research domains in sustainability: “Systems Design, Innovation, and Technology,” “Manufacturing, Logistics, and Transportation,” and “Sustainable Natural Resource Management.” Traditionally, these domains are treated separately in the OR/MS literature. By combining the three domains, the handbook will provide a more holistic treatment of MS/OR methodologies to address critical sustainability issues faced by today’s society. Unlike most existing handbooks which only focus on current OR/MS research in sustainability within a domain, this handbook will include a concluding chapter in each of the three parts to discuss and identify potential future research directions in each of the three main domains.

Download or read book The Economic Structure of Intellectual Property Law written by William M. LANDES and published by Harvard University Press. This book was released on 2009-06-30 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes a fresh look at the most dynamic area of American law today, comprising the fields of copyright, patent, trademark, trade secrecy, publicity rights, and misappropriation. Topics range from copyright in private letters to defensive patenting of business methods, from moral rights in the visual arts to the banking of trademarks, from the impact of the court of patent appeals to the management of Mickey Mouse. The history and political science of intellectual property law, the challenge of digitization, the many statutes and judge-made doctrines, and the interplay with antitrust principles are all examined. The treatment is both positive (oriented toward understanding the law as it is) and normative (oriented to the reform of the law). Previous analyses have tended to overlook the paradox that expanding intellectual property rights can effectively reduce the amount of new intellectual property by raising the creators' input costs. Those analyses have also failed to integrate the fields of intellectual property law. They have failed as well to integrate intellectual property law with the law of physical property, overlooking the many economic and legal-doctrinal parallels. This book demonstrates the fundamental economic rationality of intellectual property law, but is sympathetic to critics who believe that in recent decades Congress and the courts have gone too far in the creation and protection of intellectual property rights. Table of Contents: Introduction 1. The Economic Theory of Property 2. How to Think about Copyright 3. A Formal Model of Copyright 4. Basic Copyright Doctrines 5. Copyright in Unpublished Works 6. Fair Use, Parody, and Burlesque 7. The Economics of Trademark Law 8. The Optimal Duration of Copyrights and Trademarks 9. The Legal Protection of Postmodern Art 10. Moral Rights and the Visual Artists Rights Act 11. The Economics of Patent Law 12. The Patent Court: A Statistical Evaluation 13. The Economics of Trade Secrecy Law 14. Antitrust and Intellectual Property 15. The Political Economy of Intellectual Property Law Conclusion Acknowledgments Index Reviews of this book: Chicago law professor William Landes and his polymath colleague Richard Posner have produced a fascinating new book...[The Economic Structure of Intellectual Property Law] is a broad-ranging analysis of how intellectual property should and does work...Shakespeare's copying from Plutarch, Microsoft's incentives to hide the source code for Windows, and Andy Warhol's right to copyright a Brillo pad box as art are all analyzed, as is the question of the status of the all-bran cereal called 'All-Bran.' --Nicholas Thompson, New York Sun Reviews of this book: Landes and Posner, each widely respected in the intersection of law and economics, investigate the right mix of protection and use of intellectual property (IP)...This volume provides a broad and coherent approach to the economics and law of IP. The economics is important, understandable, and valuable. --R. A. Miller, Choice Intellectual property is the most important public policy issue that most policymakers don't yet get. It is America's most important export, and affects an increasingly wide range of social and economic life. In this extraordinary work, two of America's leading scholars in the law and economics movement test the pretensions of intellectual property law against the rationality of economics. Their conclusions will surprise advocates from both sides of this increasingly contentious debate. Their analysis will help move the debate beyond the simplistic ideas that now tend to dominate. --Lawrence Lessig, Stanford Law School, author of The Future of Ideas: The Fate of the Commons in a Connected World An image from modern mythology depicts the day that Einstein, pondering a blackboard covered with sophisticated calculations, came to the life-defining discovery: Time = $$. Landes and Posner, in the role of that mythological Einstein, reveal at every turn how perceptions of economic efficiency pervade legal doctrine. This is a fascinating and resourceful book. Every page reveals fresh, provocative, and surprising insights into the forces that shape law. --Pierre N. Leval, Judge, U.S. Court of Appeals, Second Circuit The most important book ever written on intellectual property. --William Patry, former copyright counsel to the U.S. House of Representatives, Judiciary Committee Given the immense and growing importance of intellectual property to modern economies, this book should be welcomed, even devoured, by readers who want to understand how the legal system affects the development, protection, use, and profitability of this peculiar form of property. The book is the first to view the whole landscape of the law of intellectual property from a functionalist (economic) perspective. Its examination of the principles and doctrines of patent law, copyright law, trade secret law, and trademark law is unique in scope, highly accessible, and altogether greatly rewarding. --Steven Shavell, Harvard Law School, author of Foundations of Economic Analysis of Law

Download or read book Microsoft Antitrust and the New Economy Selected Essays written by David S. Evans and published by Springer Science & Business Media. This book was released on 2006-04-11 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: No antitrust case in recent history has attracted as much public attention as U.S v. Microsoft Corp. Nor has any antitrust case in memory raised as many complex, substantive issues of law, economics and public policy. Microsoft, Antitrust and the New Economy: Selected Essays constitutes an early effort to analyze some of the central issues and to put the case in the context of the ongoing debate over the role of government in managing markets - especially in technology driven New Economy industries. All of these essays, it should be noted, are written by critics of the government's efforts to regulate Microsoft. Indeed, many are by individuals who were closely involved in the company's legal defense and served as consultants to Microsoft. But their work should be judged on the merits rather than their provenance. For all represent serious scholarship by researchers committed to advancing the debate over government regulatory policies.

Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.

Download or read book Working Paper Series written by and published by . This book was released on 2001 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Adjustment of Prices and the Adjustment of the Exchange Rate written by Charles Engel and published by . This book was released on 2001 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purchasing power parity puzzle relates to the adjustment of real exchange rates. Real exchange rates are extremely volatile, suggesting that temporary shocks emanate from the monetary sector. But the half-life of real exchange rate deviations is extremely large -- 2.5 to 5 years. This half-life seems too large to be explained by the slow adjustment of nominal prices. We offer a different interpretation. We maintain that nominal exchange rates and prices need not converge at the same rate, as is implicit in rational-expectations sticky-price models of the exchange rate. Evidence from an unobserved components model for nominal prices and nominal exchange rates that imposes relative purchasing power parity in the long run indicates that nominal exchange rates converge much more slowly than nominal prices. The real puzzle is why nominal exchange rates converge so slowly.

Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 2001 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Learning and the Value of Information written by Michael Chernew and published by . This book was released on 2001 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate a Bayesian learning model in order to assess the value of health plan performance information and the extent to which the explicit provision of information about product quality alters consumer behavior. We take advantage of a natural experiment in which health plan performance information for HMOs was released to employees of a Fortune 50 company for the first time. Our empirical work indicates that the release of information had a small but statistically significant effect on health plan choices, causing 3.1% of employees to switch health plans. Although consumers were willing to pay an extra $267 per year per below average rating avoided, the average value of the information per employee was only $10 per year. The relatively small impact of the ratings arises because the ratings were estimated to be very imprecise measures of quality. More precise measures of quality could have been more valuable.

Download or read book Aanwinsten van de Centrale Bibliotheek Queteletfonds written by Bibliothèque centrale (Fonds Quetelet) and published by . This book was released on 2002 with total page 716 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Markets in Times of Stress written by Graciela L. Kaminsky and published by . This book was released on 2001 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we examine which markets are most synchronized internationally and exhibit the greater extent of comovement. We focus on daily data for four asset markets: bonds, equities, foreign exchange, and domestic money market. Our sample covers thirty-five developed and emerging market countries during 1997-1999. The extent of comovement and responsiveness to external shocks is examined in different ways. To measure the response of these markets to adverse external shocks, we date the peaks in domestic interest rates and bond spreads and the largest daily declines in equity prices and assess the extent of clustering around the same period. We also analyze which markets show evidence of greatest comovement in general, irrespective of whether there are adverse shocks or not.

Download or read book Endogenous Currency of Price Setting in a Dynamic Open Economy Model written by Michael B. Devereux and published by . This book was released on 2001 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many papers in the recent literature in open economy macroeconomics make different assumptions about the currency in which firms set their export prices when nominal prices must be pre-set. But to date, all of these studies take the currency of price setting as exogenous. This paper sets up a simple two-country general equilibrium model in which exporting firms can choose the currency in which they set prices for sales to foreign markets. We make two alternative assumptions about the structure of international financial markets: one where there are complete markets for hedging consumption risk internationally, and the other without risk-sharing possibilities. Our results are quite sharp: exporters will generally wish to set prices in the currency of the country that has the most stable monetary policy. When monetary stability is similar among countries, there is an equilibrium where firms from all countries set their price in the currency of the buyer (local currency pricing). But except for a special case where money variances are exactly identical across countries, there is no equilibrium where all firms set export prices in their own currencies (producer currency pricing).

Download or read book Technology in the Great Divergence written by Gregory Clark and published by . This book was released on 2001 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we examine the changes in per-capita income and productivity from 1700 to modern times, and show four things: (1) that incomes per capita diverged more around the world after 1800 than before; (2) that the source of this divergence was increasing differences in the efficiency of economies; (3) that these differences in efficiency were not due to problems of poor countries in getting access to the new technologies of the Industrial Revolution; (4) that the pattern of trade from the late nineteenth century between the poor and the rich economies suggests that the problem of the poor economies was peculiarly a problem of employing labor effectively. This continues to be true today.