-
作者：Götz, G
作者单位：University of Vienna
摘要：This article analyzes the adoption and diffusion of new technology in a market for a differentiated product with monopolistic competition, I show that in a noncooperative equilibrium ex ante identical firms adopt a new technology at different dates. This equilibrium can be described by a simple distribution function. For nonidentical firms, I state the conditions under which a positive relationship between firm size and speed of adoption exists. The model integrates rank and stock effects, I d...
-
作者：Anderson, SP; Renault, R
作者单位：University of Virginia; Universite de Caen Normandie
摘要：We study price competition in the presence of search costs and product differentiation. The limit cases of the model are the Bertrand Paradox, the Diamond Paradox, and Chamberlinian monopolistic competition. Market prices rise with search costs and decrease with the number of firms. Prices may initially fall with the degree of product differentiation because more diversity leads to more search and hence more competition. Equilibrium diversity rises with search costs, while the optimum level fa...
-
作者：Boyer, M; Laffont, JJ
作者单位：Universite de Montreal; Polytechnique Montreal; Universite de Toulouse; Universite Toulouse 1 Capitole; Universite de Toulouse; Universite Toulouse 1 Capitole
摘要：This article makes some steps toward a formal political economy of environmental policy. Economists' quasi-unanimous preference for sophisticated incentive regulation is reconsidered. We recast the question. of instrument choice in the general mechanism design literature within art incomplete contract approach to political economy. We show why constitutional constraints on the instruments of environmental policy may be desirable, even though they appear inefficient from a standard economic vie...
-
作者：Davidson, C; Segerstrom, P
作者单位：Michigan State University
摘要：We present an endogenous growth model in which some firms devote resources to ner eloping higher-quality products (innovative R&D) and other firms devote resources to copying these products (imitative R&D). Although consumers benefit from the knowledge created by both types of R&D activities, only innovative R&D subsidies lead to faster economic growth; imitative R&D subsidies actually lead to slot-ver economic growth. A key assumption driving these conclusions is that R&D activities are subje...
-
作者：Caillaud, B; Jéhiel, P
作者单位：Centre National de la Recherche Scientifique (CNRS); Institut Polytechnique de Paris; Ecole des Ponts ParisTech; Centre for Economic Policy Research - UK; University of London; University College London
摘要：In standard auctions, collusion among buyers eliminates bidding competition despite informational asymmetries. Collusion can, however, be imperfect when the situation involves externalities among buyers, that is, when a buyer is worse off if one rival wins the goon rather than if nobody gets it. For intermediate values of the externality and under various objective functions, the seller finds it optimal to design an auction that leads, in equilibrium, to a collusive outcome that is ex post ine...
-
作者：Banerjee, A; Eckard, EW
作者单位：University of Colorado System; University of Colorado Denver; Indian Institute of Management (IIM System); Indian Institute of Management Calcutta
摘要：In the first event-time analysis of the great merger wave of 1897-1903, we find that the consolidations created value for merger participants of 12% to 18%. We next find that competitors suffered significant value losses inconsistent with conventional monopoly behavior (i.e., trust-induced output reductions and price increases). This result might be explained by apprehensions of trust predation rather than expected efficiency, but further analysis suggests that this is unlikely. Revelation of ...
-
作者：Yi, SS
作者单位：Sogang University
摘要：I study stable structures of efficiency-enhancing joint ventures among symmetric firms. Efficiency gains that accrue to a joint venture are assumed to increase with its size. The socially efficient industrywide joint venture is the stable outcome when membership of a joint venture is open to outside firms but typically not when membership can be restricted Members of a large joint venture want to restrict membership for strategic reasons-e.g., in order to keep rival firms' costs high. Side pay...
-
作者：Fudenberg, D; Tirole, J
作者单位：Harvard University; Universite PSL; Ecole des Hautes Etudes en Sciences Sociales (EHESS); Universite de Toulouse; Universite Toulouse 1 Capitole; Centre National de la Recherche Scientifique (CNRS); Massachusetts Institute of Technology (MIT)
摘要：We study monopoly pricing of overlapping generations of a durable good. We consider two sorts of goods: those with an active secondhand market and anonymous consumers, such as textbooks, and those with no secondhand market and consumers who can prove that they purchased the old good to qualify for a discount on the new one, such as software. In the first case we show that the monopolist may choose to either produce or repurchase the old good once the new one becomes available, In the latter ca...
-
作者：Evans, WN; Farrelly, MC
作者单位：University System of Maryland; University of Maryland College Park; Research Triangle Institute; National Bureau of Economic Research
摘要：Using data from the 1979 and 1987 National Health Interview Survey (NHIS), we test whether smokers alter their smoking habits in the face of higher taxes. Smokers in high-tax states are more likely to smoke cigarettes higher in tar and nicotine. Although tares reduce the number of cigarettes consumed per day among remaining smokers, total daily tar and nicotine intake is unaffected. Young smokers, aged 18-24, are much more responsive to changes in taxes than are older smokers, and their total ...
-
作者：Lerner, J
摘要：An extensive theoretical literature examines technological competition, and in particular whether leaders maintain their standing. These models, however, have received little empirical support. I examine innovation in the disk drive industry, an environment particularly conducive to identifying racing behavior Strategic variables prove significant in explaining the decision to innovate. The patterns are in accord with Reinganum's work: firms that trail the leader innovate more. I add controls ...
