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作者：Eisenberg, Thomas; Estay, Manuel; Mohapatra, Debi Prasad
作者单位：University of Delaware; Universidad de Concepcion; University of Massachusetts System; University of Massachusetts Amherst
摘要：This article examines the welfare consequences of a trade association in an exporting country on consumers in destination countries. We estimate a structural model of the Chilean Salmon exporting industry that endogenizes firms' pricing and export decisions. Our results show that the trade association has a positive effect on consumer utility and involves higher marginal costs of production, consistent with higher quality products. Reduced form analysis estimates price effects associated with ...
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作者：Gomes, Renato; Lozachmeur, Jean-Marie; Maestri, Lucas
作者单位：Communaute d'universites et etablissements de Toulouse (Comue); Centre National de la Recherche Scientifique (CNRS); Universite Toulouse 1 Capitole; Toulouse School of Economics; Getulio Vargas Foundation
摘要：We study oligopolistic competition by firms practicing second-degree price discrimination. In line with the literature on demand estimation, our theory allows consumers' propensity to switch brands to vary with tastes for product quality. If low-type consumers are sufficiently more (respectively, less) prone to switch brands than are high types, (i) quality provision is inefficiently low at the bottom (respectively, high at the top) of the product line, and (ii) informational rents are positiv...
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作者：Compiani, Giovanni; Morozov, Ilya; Seiler, Stephan
作者单位：University of Chicago; Northwestern University; Imperial College London; Centre for Economic Policy Research - UK
摘要：We propose a demand estimation approach that leverages unstructured data to infer substitution patterns. Using pre-trained deep learning models, we extract embeddings from product images and textual descriptions and incorporate them into a mixed logit demand model. This approach enables demand estimation even when researchers lack data on product attributes or when consumers value hard-to-quantify attributes such as visual design. Using a choice experiment, we show this approach substantially ...
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作者：Bourreau, Marc; Jullien, Bruno; Lefouili, Yassine
作者单位：Institut Polytechnique de Paris; IMT - Institut Mines-Telecom; ENSAE Paris; Telecom Paris; Communaute d'universites et etablissements de Toulouse (Comue); Centre National de la Recherche Scientifique (CNRS); Universite Toulouse 1 Capitole; Toulouse School of Economics; Communaute d'universites et etablissements de Toulouse (Comue); Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：We study the impact of horizontal mergers on the incentives of merging firms to invest in incremental innovation. We provide a decomposition of this impact that clarifies the various forces at work and the differences between demand-enhancing and cost-reducing innovation. Moreover, we derive sufficient conditions for a merger to either reduce or raise the merging firms' incentives to innovate, and show that the comparison of the price diversion ratio and the innovation diversion ratio can help...
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作者：Lin, Haizhen; Zhou, Yaying
作者单位：Indiana University System; Pennsylvania State System of Higher Education (PASSHE); Indiana University Bloomington; IU Kelley School of Business; Indiana University of Pennsylvania; Nanyang Technological University
摘要：We study how insurer competition affects premiums for fully-insured plans in the employer-sponsored health insurance market. By utilizing quasi-experimental variations induced by mergers among national insurers, we show that increased insurer concentration leads to higher premiums, but there exists substantial heterogeneity. In particular, we find that a increase in insurer concentration increases premiums for mid-sized firms by but reduces premiums for large firms by . We explore additional s...
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作者：Reisinger, Markus; Zenger, Hans
作者单位：Frankfurt School Finance & Management
摘要：This article provides a full characterization of the competitive effects of horizontal mergers in the Cournot model with heterogeneous firms and constant marginal costs. We show that price effects depend only on the smaller merging firm's market share and the number of firms but are independent of the distribution of market shares among other firms. Standard concentration measures, instead, are often misleading. We also provide simple-yet general-closed-form solutions for merger effects based ...
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作者：Zhang, Wenzhang
作者单位：Zhejiang University
摘要：We study the optimal design of a monopoly platform that interacts with heterogeneous firms and consumers who face uncertainty about product values and prices. Consumers search randomly among firms recommended by the platform. The platform designs a menu of contracts tailored to different firm types and allocates consumer visits across these firms. We show that the optimal platform design creates a superstar effect, whereby high-type firms capture a disproportionately large market share, and im...
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作者：Ahmad, Amal; Naeher, Dominik; Vollmer, Sebastian
作者单位：Wageningen University & Research; University of Gottingen
摘要：Incentivizing innovation through buyouts may alleviate the social costs associated with patent power, but the political economy and feasibility of this potentially important financing mechanism have been understudied. We study an international setting of countries with different innovation and financing capabilities, and where financing governments rely on taxes to fund buyouts and care about the electoral popularity of their decisions. Subsequent distributional conflict arises between countri...
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作者：Chen, Yi; Du, Kai; Stocken, Phillip; Wang, Zhe
作者单位：Cornell University; University of Macau; Dartmouth College
摘要：We study a two-period learning model where a sequentially rational regulator builds a reputation for strict enforcement and self-interested firms test the regulator's enforcement propensity through their misconduct. In the transparent setting, where misconduct and enforcement are observable between the firms, the regulator's reputation concern endogenously creates positive or negative enforcement externalities between the firms. When the reputation concern is strong, the enforcement externalit...
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作者：Marinovic, Ivan; Varas, Felipe
作者单位：Stanford University; University of Texas System; University of Texas Dallas
摘要：We study strategic trading by a privately informed blockholder who monitors a company and trades its shares. Private information results in larger block sizes in good states, but by increasing the speed of the blockholder's selling, it can result in lower block sizes in bad states. Despite the heterogeneous impact on expected block size, we show that asymmetric information leads to Pareto improvements: it raises stock prices, benefits small uninformed shareholders, and benefits the block owner...
