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作者：Bagwell, K; Ramey, G
作者单位：University of California System; University of California San Diego
摘要：When avoidable fixed costs are introduced into the entry model of Dixit (1980) and Ware (1984), there arises a coordination problem in selecting among postentry Nash equilibria. Elimination of weakly dominated strategies allows the entrant to use a market-capturing strategy, consisting of a large capacity commitment that selects the entrant's preferred postentry equilibrium and drives the incumbent from the market. Deterring the entrant's market-capturing strategy typically requires the incumb...
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作者：Weil, D
摘要：Since its inception twenty-five years ago, the Occupational Safety and Health Administration (OSHA) has been the subject of an intense public debate on its effectiveness, This article analyzes the determinants of establishment-level compliance with specific safety and health standards as a means of assessing the agency's effectiveness, The empirical results suggest that OSHA has had large impacts on business compliance behavior, despite its low regulatory profile. These results indicate that g...
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作者：BIGLAISER, G; MA, CTA
作者单位：Boston University
摘要：In this article, we study the optimal regulation of a dominant firm when an unregulated firm actively competes. Generally, the existence of an active rival imposes new and binding constraints on regulatory problems. We characterize optimal policies both when demands are known (complete information) and unknown (incomplete information) to the regulator. Optimal policies under complete information may set the price at the dominant firm above or below its marginal cost. Optimal policies under inc...
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作者：DONNENFELD, S; WEBER, S
作者单位：Southern Methodist University
摘要：In this article, we investigate how the interplay of competition among incumbents and the magnitude of a potential entrant's setup cost determines the configuration of the array of products to be offered in a perfect Nash equilibrium. We show that incumbents can use limit qualities to deter entry. We also demonstrate that rivalry among incumbents may lead to excessive entry deterrence. Our analysis generates predictions about the correlation between the degree of product differentiation and th...
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作者：PNG, IPL; REITMAN, D
作者单位：University of California System; University of California Los Angeles; University System of Ohio; Ohio State University
摘要：How can two physically identical gasoline stations differentiate themselves? In this article we develop and test a model of service time competition: some stations set higher prices and thereby offer shorter queues, whereas other offer lower price and longer queues. We find that retail demand is sensitive to service time: customers are, on average, willing to pay about 1% more for a 6% reduction in congestion. Consistent with the service time hypothesis, prices are more dispersed at stations f...
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作者：NORTON, EC; STAIGER, DO
作者单位：Harvard University
摘要：This article addresses the effect of hospital ownership on the delivery of service to uninsured patients. It compares the volume of uninsured patients treated in for-profit and nonprofit hospitals by regarding hospital ownership and service as endogenous. Instrumental variable estimates are used to predict the percentage of patients who are uninsured, controlling for hospital ownership and service. The study shows that when for-profit and nonprofit hospitals are located in the same area, they ...
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作者：PAKES, A; MCGUIRE, P
摘要：In this article we develop and illustrate a simple algorithm for computing Markov-perfect Nash equilibria. The advantage of the Markov-perfect framework is that it is flexible enough to reproduce important aspects of reality in a variety of market settings. As a result, we hope that our article and (perhaps improved) versions of the associated algorithms will eventually be a part of a tool kit that allows researchers to go back and forth between the implications of economic theory and the char...
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作者：BERRY, ST
摘要：This article considers the problem of ''supply-and-demand'' analysis on a cross section of oligopoly markets with differentiated products. The primary methodology is to assume that demand can be described by a discrete-choice model and that prices are endogenously determined by price-setting firms. In contrast to some previous empirical work, the techniques explicitly allow for the possibility that prices are correlated with unobserved demand factors in the cross section of markets. The articl...
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作者：BURTON, PS
摘要：This article explores how the introduction of new products by multiproduct firms might be affected by existing goods in each firm's portfolio. A logit analysis is conducted to estimate the effects of local monopoly power, cost advantages, and learning. Characteristics theory is used to determine whether the addition of a new product to a firm's existing portfolio creates the potential for local monopoly power. While the chemical similarity of products has the largest effect, results nonetheles...
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作者：CHOU, C; SHY, O
摘要：In this article we demonstrate how a long duration of patents affects investment in new product development. We construct an overlapping-generations model of saving, investment, and product innovation and show that a long duration of patents results in a high aggregate value of monopoly firms that compete for the younger generation's savings with investment in new product development. We analyze the crowding-out effects of long duration of patents and their implications for individuals' welfar...
