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作者：Burguet, Roberto; Sakovics, Jozsef
作者单位：State University System of Florida; University of Central Florida; University of Edinburgh
摘要：We model oligopolistic firms, producing substitutes, who compete for inputs from capacity constrained suppliers in a decentralized market. Compared to a price-taking input market, the incentive to foreclose downstream competitors leads to higher input prices and to a higher aggregate amount of input acquired. This novel feature mitigates the output reducing effect of downstream market power and may even restore efficiency in the unique (input) market clearing equilibrium. Other equilibria, whe...
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作者：Karle, Heiko; Schumacher, Heiner
作者单位：Frankfurt School Finance & Management; KU Leuven
摘要：We analyze a monopolist's optimal advertising strategy when consumers are expectation-based loss-averse and uncertain about their individual match value with the product. Advertising provides verifiable match value information. It modifies the consumers' reference point and hence their willingness to pay for the product. We show that the optimal advertising strategy pools different consumer types so that some consumers engage in ex ante unfavorable trade. Incomplete informative advertising thu...
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作者：Ghosh, Arghya; Morita, Hodaka
作者单位：University of New South Wales Sydney
摘要：An alliance often involves one firm acquiring an equity stake in its alliance partner. We explore oligopoly models that capture the link between knowledge transfer and partial equity ownership (PEO), where alliance partners can choose the level of PEO. PEO can increase the alliance partners' profitability by inducing knowledge transfer, but the PEO itself reduces their joint profit because it induces other firms to take more aggressive actions. This trade-off endogenously determines the level ...
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作者：Garmon, Christopher
作者单位：University of Missouri System; University of Missouri Kansas City
摘要：This article analyzes the accuracy of various prospective hospital merger screening methods used by antitrust agencies and the courts. The predictions of the screening methods calculated with pre-merger data are compared with the actual post-merger price changes of 28 hospital mergers measured relative to controls. The evaluated screening methods include traditional structural measures (e.g., Herfindahl-Hirschman Index), measures derived from hospital competition models (e.g., diversion ratios...
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作者：Ho, Kate; Hogan, Joseph; Morton, Fiona Scott
作者单位：Columbia University; National Bureau of Economic Research; Yale University
摘要：The Medicare Part D program relies on consumer choice to provide insurers with incentives to offer low-priced, high-quality pharmaceutical insurance plans. We demonstrate that consumers switch plans infrequently and search imperfectly. We estimate a model of consumer plan choice with inattentive consumers and show that high observed premiums are consistent with insurers profiting from consumer inertia. We estimate the reduction in steady state plan premiums if all consumers were attentive. An ...
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作者：Conlon, John R.
作者单位：University of Mississippi
摘要：This article argues that as the distribution of a firm's buyers becomes more heterogeneous, the firm's profit-maximizing quantity-discount schedule becomes less steep. First, we note that one measure of heterogeneity is the slope of the hazard function, expressed in terms of a simple crossing condition. We then show that marginal price schedules, for distributions of buyers which are more heterogeneous by this measure, are less negatively sloped in that they cross schedules for more homogeneou...
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作者：Hollenbeck, Brett
作者单位：University of California System; University of California Los Angeles
摘要：This article considers the rapid spread of chain firms in many industries. The conventional explanation is that chains generate economies of scale in costs. Alternatively, the structure of chains may enhance demand by helping firms develop reputations, among other reasons. I quantify the value of these explanations empirically with a large, detailed data set on the hotel industry, combining a reduced-form analysis of revenues with a structural estimation of firm costs. Revenue analysis shows s...
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作者：Hendel, Igal; Lach, Saul; Spiegel, Yossi
作者单位：Northwestern University; Hebrew University of Jerusalem; Centre for Economic Policy Research - UK; Tel Aviv University
摘要：We study a consumer boycott on cottage cheese, organized in Israel on Facebook in the summer of 2011 following a steep price increase since 2006. The boycott led to an immediate decline in prices, which remain low even six years later. We find that (i) demand at the start of the boycott would have been 30% higher but for the boycott, (ii) own- and especially cross-price elasticities increased substantially after the boycott, and (iii) post-boycott prices are substantially below the levels impl...
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作者：Wang, Chengsi
作者单位：University of Mannheim; Monash University
摘要：This article examines a monopoly firm's incentive to disclose information through advertising when consumers can choose between buying immediately and searching for additional information. Because sales drop when search reveals low match values to consumers, the firm has an incentive to deter search. We show that partial information disclosure emerges as a useful tool for search deterrence when search costs are low. Informative advertising and consumer search can be viewed as complements in pr...
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作者：Lemus, Jorge; Temnyalov, Emil
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of Technology Sydney
摘要：We model patent privateeringwhereby producing firms sell patents to Patent Assertion Entities (PAEs), which then license them under the threat of litigationin a bargaining game. PAEs can negotiate higher licensing fees than producing firms because they cannot be countersued for infringement. Privateering produces two countervailing effects: it increases the offensive value of patents, whereas it decreases their defensive value and lowers the aggregate surplus of producing firms. Embedding the ...
