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作者：Guan, Junyan; Xu, Boli
作者单位：Northwestern University; University of Iowa
摘要：This article considers an auction model in which a seller's choice of reserve price signals her private information about the object's quality. We show that the signaling incentive would lower the seller's payoff and the probability of sale. We estimate the model using a novel dataset from a large online auto auction platform. Counterfactual simulations suggest that a secret reserve price could shut down the signaling incentive and improve both the seller's payoff and the probability of sale, ...
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作者：Ershov, Daniel; Laliberte, Jean-william; Marcoux, Mathieu; Orr, Scott
作者单位：University of London; University College London; University of Calgary; Universite de Montreal; University of British Columbia
摘要：Standard discrete choice demand models assume that all products are substitutes. Merger analyses based on these models may overstate consumer harm. We develop an estimator that identifies demand complementarity and remains computationally feasible with large choice sets. We apply this estimator to the chips and soda market and find a high degree of complementarity between these product groups. We show that a counterfactual merger ignoring complementarity between PepsiCo/Frito-Lay and Dr. Peppe...
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作者：Casner, Ben; Teh, Tat-How
作者单位：Nanyang Technological University
摘要：Our model classifies platforms in the creator economy -for example, Youtube, Patreon, and Twitch-into three business models: pure discovery (helping consumers search for creators); pure membership (enabling direct creator-consumer monetization); and hybrid (combining both). Creators respond to platforms' decisions by choosing their content design along a broad-niche spectrum, trading off between viewership size and per-viewer monetization. With a monopoly platform, moving from pure discovery t...
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作者：Gao, Huasheng; Hsu, Po-Hsuan; Zhang, Jin
作者单位：Fudan University; National Tsing Hua University; National Tsing Hua University; Monash University
摘要：We examine the role of pay transparency in inventor productivity by exploiting the staggered adoption of state-level pay secrecy laws, which enhance pay transparency in the workplace. We find a significant increase in inventor productivity of firms located in states that have passed such laws relative to firms elsewhere. This relation is more pronounced for firms in states with lower levels of pre-existing pay transparency. We further show that pay secrecy laws promote inventor productivity by...
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作者：Harrington Jr, Joseph E.
作者单位：University of Pennsylvania
摘要：In markets with price discrimination, firms can face a trade-off when colluding. To maintain price discrimination, upper-level executives may have to involve lower-level employees with the requisite demand information but that enhances the risk of the cartel's discovery. They could instead centralize pricing authority, but that means less price discrimination. Here, we consider a third option, which is for executives to coordinate on inflating the cost used in pricing by lower-level employees....
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作者：Kim, Harim
作者单位：University of Connecticut
摘要：The energy transition from coal to gas is reshaping the power sector to rely more on gas generation, which is cleaner but has more variable input costs. Using counterfactual analysis, I study the competitive effects of this transition, by considering several transition paths that differ in the types of firms involved in retiring coal plants and investing in gas plants. I show that the variable nature of the marginal cost of gas generation creates an environment in which market power could incr...
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作者：Fabra, Natalia; Llobet, Gerard
摘要：This article investigates the influence of technological ownership on pricing strategies and productive efficiency. Our motivation comes from the evolving landscape of electricity markets where firms are transitioning from diversified to specialized portfolios, focusing on renewable energy or fossil fuels. Our theoretical model demonstrates that diversified firms compete more vigorously than their specialized counterparts. Conversely, specialized firms exhibit higher productive efficiency but ...
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作者：De Corniere, Alexandre; Taylor, Greg
作者单位：Communaute d'universites et etablissements de Toulouse (Comue); Universite Toulouse 1 Capitole; Toulouse School of Economics; University of Oxford
摘要：Does enhanced access to data foster or hinder competition among firms? Using a competition-in-utility framework that encompasses many situations where firms use data, we model data as a revenue-shifter and identify two opposite effects: a mark-up effect according to which data induces firms to compete harder, and a surplus-extraction effect. We provide conditions for data to be pro- or anti-competitive, requiring neither knowledge of demand nor computation of equilibrium. We apply our results ...
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作者：Butters, R. Andrew; Sacks, Daniel W.; Seo, Boyoung
作者单位：Pennsylvania State System of Higher Education (PASSHE); Indiana University of Pennsylvania; University of Wisconsin Madison; University of Wisconsin System; University of Wisconsin Madison
摘要：Examining widely-sold products across dozens of categories in a national scanner database, we find seasonality in demand is large-20 log points for the median category, and pervasive. At seasonal frequencies, price fluctuations are typically countercyclical but small-1.5 log points on average. For most categories, we find seasonality in demand is driven by extensive margin changes in households purchasing any product in the category, and coincides with demand becoming more elastic as it peaks....
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作者：Do, Jihwan; Miklos-Thal, Jeanine
作者单位：Yonsei University; University of Rochester
摘要：This article proposes a dynamic approach to modeling opportunism in bilateral vertical contracting between an upstream monopolist and competing downstream firms. Unlike previous literature on opportunism which has focused on games in which the upstream firm makes simultaneous secret offers to the downstream firms, we model opportunism as a consequence of asynchronous recontracting in an infinite-horizon continuous-time model. We find that the degree of opportunism depends on the absolute and r...
