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作者：Johnson, Justin P.; Myatt, David P.
作者单位：Cornell University; University of Oxford
摘要：We study a Cournot industry in which each firm sells multiple quality-differentiated products. We use an upgrades approach, working not with the actual products but instead with upgrades from one quality to the next. The properties of single-product models carry over to the supply of upgrades, but not necessarily to the supply of complete products. Product line determinants and welfare results are presented. Strategic commitment to product lines is considered; firms may well choose to compete ...
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作者：Ottaviani, Marco; Sorensen, Peter Norman
作者单位：University of London; London Business School; University of Copenhagen
摘要：We analyze information reporting by a privately informed expert concerned about being perceived to have accurate information. When the expert's reputation is updated on the basis of the report as well as the realized state, the expert typically does not wish to truthfully reveal the signal observed. The incentives to deviate from truth telling are characterized and shown to depend on the information structure. In equilibrium, experts can credibly communicate only part of their information. Our...
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作者：Dai, Chifeng; Lewis, Tracy R.; Lopomo, Giuseppe
作者单位：Southern Illinois University System; Southern Illinois University; Duke University
摘要：Owners of property and assets frequently delegate decisions about operating and maintaining their property to managers who are better informed about local market conditions. We analyze how owners optimally contract with managers who vary in their expertise at prescribing service. We show that the most expert managers offer the greatest variation in operating recommendations. Owners benefit from dealing with experts provided they contract sequentially, whereby terms are negotiated gradually as ...
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作者：Baldenius, Tim
作者单位：Columbia University
摘要：Vertical integration is often proposed as a way to resolve hold-up problems. This ignores the empirical fact that division managers tend to maximize divisional (not firmwide) profit when investing. I develop a model with asymmetric information at the bargaining stage and investment returns taking the form of cash and empire benefits. Owners of a vertically integrated firm will then provide division managers with low-powered incentives to induce them to bargain more cooperatively, resulting in ...
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作者：Augereau, Angelique; Greenstein, Shane; Rysman, Marc
作者单位：Northwestern University; Columbia University
摘要：56K modems were introduced under two competing incompatible standards. We show the importance of competition between internet service providers in the adoption process. We show that ISPs were less likely to adopt the technology that more competitors adopted. This result is particularly striking given that industry participants expected coordination on one standard or the other. We speculate about the role of ISP differentiation in preventing the market from achieving standardization until a st...
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作者：Chan, Tat Y.
作者单位：Washington University (WUSTL)
摘要：Using micro-level scanner data, I study empirically the consumer demand for soft drinks, which is characterized by multiple-product, multiple-unit purchasing behavior. I develop a continuous hedonic-choice model to investigate how consumers choose the best basket of products to satisfy various needs. My model's embedded-characteristics approach both helps to reduce the dimensionality problem in model estimation and generates flexible substitution patterns. Hence, the model is useful in applica...
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作者：Rochet, Jean-Charles; Tirole, Jean
作者单位：Universite de Toulouse; Massachusetts Institute of Technology (MIT)
摘要：We provide a road map to the burgeoning literature on two-sided markets and present new results. We identify two-sided markets with markets in which the structure, and not only the level of prices charged by platforms, matters. The failure of the Coase theorem is necessary but not sufficient for two-sidedness. We build a model integrating usage and membership externalities that unifies two hitherto disparate strands of the literature emphasizing either form of externality, and obtain new resul...
