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作者：Grieco, Paul L. E.; Li, Shengyu; Zhang, Hongsong
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of New South Wales Sydney; University of Hong Kong
摘要：We develop a dynamic model to analyze the impact of input tariff liberalization on input prices, trading decisions, and productivity. Although input tariffs directly affect input price benefits of importing, their impact on trade participation generates indirect benefits through productivity improvements and complementarity between importing and exporting. To disentangle these effects, we separately measure importing's effect on input prices and productivity and examine Chinese paint manufactu...
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作者：Fan, Ying; Zhang, Ge
作者单位：University of Michigan System; University of Michigan; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; Amazon.com
摘要：Subsidies to consumers may cause firms to charge higher prices, which offsets consumer benefits from subsidies. We study a subsidy program design that mitigates such price increases by making products' eligibility for a subsidy dependent on firms' commitment to price ceilings. To quantify the importance of such competition for eligibility, we develop a structural model and an estimation procedure that accommodate binding pricing constraints. We find that competition for eligibility mitigates t...
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作者：Bjorkegren, Daniel
作者单位：Brown University
摘要：This article analyzes the potential for competition policy to affect welfare and investment in a network industry. When a network is split between competitors, each internalizes less network effects, but may still invest to steal customers. I structurally estimate consumers' utility from adopting and using mobile phones, with transaction data from nearly the entire Rwandan network. I simulate the equilibrium choices of consumers and network operators. Adding a competitor earlier could have red...
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作者：Li, Sophia; Mazur, Joe; Park, Yongjoon; Roberts, James; Sweeting, Andrew; Zhang, Jun
作者单位：Purdue University System; Purdue University; University of Massachusetts System; University of Massachusetts Amherst; Duke University; National Bureau of Economic Research; University System of Maryland; University of Maryland College Park; Center for Economic & Policy Research (CEPR); Renmin University of China
摘要：We estimate a model of route-level competition between airlines who choose whether to offer nonstop or connecting service before setting prices. Airlines have full information about all quality, marginal cost, and fixed cost unobservables throughout the game, so that service choices will be selected on these residuals. We conduct merger simulations that allow for repositioning and account for the selection implied by the model and the data. Accounting for selection materially affects the predi...
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作者：Dosis, Anastasios
作者单位：ESSEC Business School
摘要：In the informed principal model with common values, I provide conditions that allow for the characterization of the set of equilibria of the game in which the principal makes a take-it-or-leave-it offer of a mechanism to the agent. I further examine if and when restriction to direct revelation mechanisms is without loss of generality. Last, I provide clear guidelines for solving economic applications, such as insurance, procurement, security design, and bilateral trading, of the informed princ...
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作者：Shi, Fanqi; Xing, Yiqing
作者单位：Peking University; Johns Hopkins University
摘要：We study sequential auctions as optimal mechanisms for selling multiple heterogeneous items to unit-demand buyers. We find that as long as the items can be ordered in decreasing variation of the buyers' values, any combination of static standard auctions in this sequence achieves full efficiency and the constrained optimal revenue, subject to (BIC), (IIR), and the all-sold constraint. In addition, with increasing threshold types and optimal static reserve prices, any l-th price auctions in the...
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作者：Chen, Zhijun; Choe, Chongwoo; Cong, Jiajia; Matsushima, Noriaki
作者单位：Monash University; Fudan University; University of Osaka
摘要：This article studies tech mergers that involve a large volume of consumer data. The merger links the markets for data collection and data application through a consumption synergy. The merger-specific efficiency gains exist in the market for data application due to the consumption synergy and data-enabled personalization. Prices fall in the market for data collection but generally rise in the market for data application as the efficiency gains are extracted away through personalized pricing. W...
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作者：Kambhampati, Ashwin; Segura-Rodriguez, Carlos
作者单位：United States Department of Defense; United States Navy; United States Naval Academy
摘要：How does a profit-maximizing manager form teams and compensate workers when workers have private information about their productivity and exert hidden effort once in a team? We study a team production model in which positive assortative matching is both efficient and profit-maximizing under pure adverse selection and pure moral hazard. We show that the interaction of adverse selection and moral hazard can lead to nonassortative matching if complementarities are sufficiently weak. When this is ...
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作者：Bergemann, Dirk; Bonatti, Alessandro; Gan, Tan
作者单位：Yale University; Massachusetts Institute of Technology (MIT)
摘要：A data intermediary acquires signals from individual consumers regarding their preferences. The intermediary resells the information in a product market wherein firms and consumers tailor their choices to the demand data. The social dimension of the individual data-whereby a consumer's data are predictive of others' behavior-generates a data externality that can reduce the intermediary's cost of acquiring the information. The intermediary optimally preserves the privacy of consumers' identitie...
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作者：Dranove, David; Garthwaite, Craig; Hermosilla, Manuel
作者单位：Northwestern University; Johns Hopkins University
摘要：Prior literature shows that stronger consumer demand leads to increased pharmaceutical R&D. However, how strong these demand-pull effects are for more scientifically novel drug innovation remains unknown. We address this question using comprehensive clinical trial data that include precise characterizations of the scientific approaches used in tested molecules. We characterize scientific novelty as the number of times each approach has been used in the past. Exploiting exogenous demand variati...
