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作者：Lee, Robin S.
作者单位：New York University
摘要：This paper measures the impact of vertically integrated and exclusive software on industry structure and welfare in the sixth-generation of the US video game industry (2000-2005). I specify and estimate a dynamic model of both consumer demand for hardware and software products, and software demand for hardware platforms. I use estimates to simulate market outcomes had platforms been unable to own or contract exclusively with software. Driven by increased software compatibility, hardware and so...
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作者：Chen, Jiawei; Esteban, Susanna; Shum, Matthew
作者单位：University of California System; University of California Irvine; Autonomous University of Barcelona; Autonomous University of Barcelona; Barcelona School of Economics; California Institute of Technology
摘要：To investigate whether secondary markets aid or harm durable goods manufacturers, we build a dynamic model of durable goods oligopoly with transaction costs in the secondary market. Calibrating model parameters using data from the US automobile industry, we find the net effect of opening the secondary market is to decrease new car manufacturers' profits by 35 percent. Counterfactual scenarios in which the size of the used good stock decreases, such as when products become less durable, when th...
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作者：Kolstad, Jonathan T.
作者单位：University of Pennsylvania; National Bureau of Economic Research
摘要：If profit maximization is the objective of a firm, new information about quality should affect firm behavior only through its effects on market demand. I consider an alternate model in which suppliers are motivated by a desire to perform well in addition to profit. The introduction of quality report cards for cardiac surgery in Pennsylvania provides an empirical setting to isolate the relative role of extrinsic and intrinsic incentives in determining surgeon response. Information on performanc...
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作者：Adda, Jerome; Cornaglia, Francesca
作者单位：European University Institute; University of London; Queen Mary University London
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作者：Anderson, Axel; Smith, Lones
作者单位：Georgetown University; University of Wisconsin System; University of Wisconsin Madison
摘要：We characterize the unique equilibrium of a competitive continuous time game between a resource-constrained informed player and a sequence of rivals who partially observe his action intensity. Our game adds noisy monitoring and impatient players to Aumann and Maschler (1966), and also subsumes insider trading models. The intensity bound induces a novel strategic bias and serial mean reversion by uninformed players. We compute the duration of the informed player's informational edge. The uninfo...
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作者：Blanchard, Olivier J.; L'Huillier, Jean-Paul; Lorenzoni, Guido
作者单位：International Monetary Fund; Northwestern University
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作者：Kovrijnykh, Natalia
作者单位：Arizona State University; Arizona State University-Tempe
摘要：This paper analyzes a dynamic lending relationship where the borrower cannot be forced to make repayments, and the lender offers long-term contracts that are imperfectly enforced and repeatedly renegotiated. No commitment and full commitment by the lender are special cases of this model where the probability of enforcement equals zero and one, respectively. I show that an increase in the degree of enforcement can lower social welfare. Furthermore, properties of equilibrium investment dynamics ...
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作者：Jaimovich, Nir; Pruitt, Seth; Siu, Henry E.
作者单位：Duke University; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve System Board of Governors; University of British Columbia
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作者：Saito, Kota
作者单位：California Institute of Technology
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作者：Heffetz, Ori; Rabin, Matthew
作者单位：Cornell University; University of California System; University of California Berkeley
摘要：A growing literature explores differences in subjective well-being across demographic groups, often relying on surveys with high non-response rates. By using the reported number of call attempts made to participants in the University of Michigan's Surveys of Consumers, we show that comparisons among easy-to-reach respondents differ from comparisons among hard-to-reach ones. Notably, easy-to-reach women are happier than easy-to-reach men, but hard-to-reach men are happier than hard-to-reach wom...
