Microeconomics: Production最新文献_第10页

Demand for Quality, Variable Markups and Misallocation: Evidence from India 质量需求、可变加价和错配:来自印度的证据

Microeconomics: Production Pub Date : 2020-01-01 DOI: 10.2139/ssrn.3685273

Apoorv Gupta

引用次数: 3

The Role of Income and Substitution in Commodity Demand 收入和替代在商品需求中的作用

Microeconomics: Production Pub Date : 2020-01-01 DOI: 10.1596/1813-9450-9122

J. Baffes, A. Kabundi, P. Nagle

引用次数: 20

Everyday Regular Prices 日常正常价格

Microeconomics: Production Pub Date : 2020-01-01 DOI: 10.2139/ssrn.3517176

N. Berardi, Federico Ravenna, M. Samano

引用次数: 1

Upward Pricing Pressure in Oligopoly With Competitive Fringe 具有竞争边缘的寡头垄断的价格上行压力

Microeconomics: Production Pub Date : 2020-01-01 DOI: 10.2139/ssrn.3713945

Marcelo Henrique Shinkoda, M. Braga, Valéria Gama Fully Bressan

{"title":"Upward Pricing Pressure in Oligopoly With Competitive Fringe","authors":"Marcelo Henrique Shinkoda, M. Braga, Valéria Gama Fully Bressan","doi":"10.2139/ssrn.3713945","DOIUrl":"https://doi.org/10.2139/ssrn.3713945","url":null,"abstract":"Farrell and Shapiro (F&S, 2010) proposed an Upward Pricing Pressure (UPP) approach to merger screening between two symmetrical firms. According to them, this UPP approach is more practical than concentration-based methods. However, it fails because it does not incorporate all the theoretical effects which set the price. This article sets out to close two specific gaps in the UPP. First, the case of the industry which has a set of firms with asymmetric costs is addressed. Mathiesen et al. (2012) show that UPP screening could present a false-positive in asymmetric cases. To correct this, the study includes a competitive fringe in the feedback effects, and thereby rectifies the symmetric and asymmetric effects in pricing pressure. Second, when the asymmetric effect comes from only dominant side, the lack of representativeness of demand is then addressed. The study shows that the model presented by F&S is valid only for cases where the elasticity of demand is unitary. If that is not the case, the original model is biased. Finally, after filling both gaps, the validity of the relevant-market term in industrial organization is discussed and was concluded to be out of date. For the authors, the regulator just needs to set a channel between products in a convex set to establish a merger screening.","PeriodicalId":18516,"journal":{"name":"Microeconomics: Production","volume":"42 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88858418","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Spatial Differentiation and Market Power in Input Procurement: Evidence from a Structural Model of the Corn Market 投入品采购的空间分异与市场力量:来自玉米市场结构模型的证据

Microeconomics: Production Pub Date : 2020-01-01 DOI: 10.2139/ssrn.3536733

Jinho Jung, Juan P. Sesmero, R. Siebert

{"title":"Spatial Differentiation and Market Power in Input Procurement: Evidence from a Structural Model of the Corn Market","authors":"Jinho Jung, Juan P. Sesmero, R. Siebert","doi":"10.2139/ssrn.3536733","DOIUrl":"https://doi.org/10.2139/ssrn.3536733","url":null,"abstract":"We estimate the cost of transporting corn and the resulting degree of spatial differentiation among downstream firms that buy corn from upstream farmers and examine whether such differentiation softens competition enabling buyers to exert market power (defined as the ability to pay a price for corn that is below its marginal value product net of processing cost). We estimate a structural model of spatial competition using corn procurement data from the U.S. state of Indiana from 2004 to 2014. We adopt a strategy that allows us to estimate firm-level structural parameters while using aggregate data. Our results return a transportation cost of $0.12 per bushel per mile (5% of the corn price under average distance traveled), which provides evidence of spatial differentiation among buyers. The estimated average markdown is $0.80 per bushel (16% of the average corn price in the sample), of which $0.34 is explained by spatial differentiation and the rest by the fact that firms operated under binding capacity constraints. We also find that corn prices paid to farmers at the mill gate are independent of distance between the plant and the farm, providing evidence that firms do not engage in spatial price discrimination. Finally, we evaluate the effect of hypothetical mergers on input markets and farm surplus. A merger between nearby ethanol producers eases competition, increases markdowns by 20%, and triggers a sizable reduction in farm surplus. In contrast, a merger between distant buyers has little effect on competition and markdowns.","PeriodicalId":18516,"journal":{"name":"Microeconomics: Production","volume":"14 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72994984","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Firms Far Up: Productivity, Agglomeration, and High-Growth Firms in Ethiopia 企业向上:埃塞俄比亚的生产率、集聚和高增长企业

Microeconomics: Production Pub Date : 2019-12-30 DOI: 10.1596/1813-9450-9099

A. G. Goswami

{"title":"Firms Far Up: Productivity, Agglomeration, and High-Growth Firms in Ethiopia","authors":"A. G. Goswami","doi":"10.1596/1813-9450-9099","DOIUrl":"https://doi.org/10.1596/1813-9450-9099","url":null,"abstract":"High-growth firms have been widely studied in advanced countries, but little is known about such stellar performers in Africa. Using establishment-level data from Ethiopia, this paper finds that the incidence of high-growth firms stands at an average of 7 percent, a figure comparable to that of advanced countries. High-growth episodes are short-lived, and the likelihood of survival or a subsequent episode is not any higher for high-growth firms. It is difficult for firms to sustain high growth, and the likelihood of a repeated episode is low. There is only a 6.5 percent chance that a manufacturing plant in Ethiopia will repeat a high-growth event in the subsequent three-year period. This likelihood is not greater than that of plants that did not experience high growth in the previous period. The paper explores the drivers of high growth and finds a tight link between exemplary performance and initial plant productivity, which is robust to many controls, including plant location. Plants located in Ethiopia's capital city or agglomerations have a higher probability of high growth. And high growth in plant employment is found to be self-reinforcing, that is, past high-growth experience is positively and significantly associated with subsequent growth in firm productivity.","PeriodicalId":18516,"journal":{"name":"Microeconomics: Production","volume":"5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88824756","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 6

Effect of Capital, Technology, Labor, and Production of Revenues 资本、技术、劳动力和收入生产的效应

Microeconomics: Production Pub Date : 2019-12-30 DOI: 10.2139/ssrn.3511245

Cintya Kusuma

引用次数: 1

Platform Pricing with Strategic Buyers: The Impact of Future Production Cost 有战略买家的平台定价:未来生产成本的影响

Microeconomics: Production Pub Date : 2019-12-17 DOI: 10.2139/ssrn.2372461

Mei Lin, X. Pan, Quan Zheng

{"title":"Platform Pricing with Strategic Buyers: The Impact of Future Production Cost","authors":"Mei Lin, X. Pan, Quan Zheng","doi":"10.2139/ssrn.2372461","DOIUrl":"https://doi.org/10.2139/ssrn.2372461","url":null,"abstract":"Two‐sided platforms are often coupled with exclusive hardware products that connect two sides of users, the consumers of the hardware product (i.e., buyers) and the application developers (i.e., sellers). The hardware product in the platform business model introduces three important issues that are not yet well understood in the literature of platform pricing: potentially downward‐trending production cost, product quality improvements, and consumers’ strategic behaviors. Using analytical modeling, our study explicitly factors in these issues in analyzing a monopoly platform owner’s two‐sided pricing problem. The platform sequentially introduces and prices quality‐improving hardware products, for which the costliness of quality may decrease. Strategic buyers make purchasing and upgrading decisions, which dynamically determine the buyer‐side network size. Meanwhile, the seller‐side network size is determined endogenously. We find that, an increase in the likelihood or magnitude of the future costliness reduction raises the initial buyer‐side price of the low‐quality product and lowers the seller‐side fee. This strategy, in turn, creates an indirect intertemporal effect that allows the platform to also raise the buyer‐side price(s) of the product(s) sold later. These findings contrast with conventional wisdom and provide an economic explanation for premium introductory pricing of many platform products. Moreover, we find that strengthening the network effect can result in more pronounced increases in the buyer‐side prices.","PeriodicalId":18516,"journal":{"name":"Microeconomics: Production","volume":"23 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86706990","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 13

Advertising on Online Marketplaces: Information Asymmetry and the Relevance of Sponsored Listings 在线市场上的广告:信息不对称和赞助列表的相关性

Microeconomics: Production Pub Date : 2019-12-15 DOI: 10.2139/ssrn.3013468

Vibhanshu Abhishek, Kinshuk Jerath, Siddhartha Sharma

{"title":"Advertising on Online Marketplaces: Information Asymmetry and the Relevance of Sponsored Listings","authors":"Vibhanshu Abhishek, Kinshuk Jerath, Siddhartha Sharma","doi":"10.2139/ssrn.3013468","DOIUrl":"https://doi.org/10.2139/ssrn.3013468","url":null,"abstract":"Advertising on e-commerce marketplaces, wherein sponsored product listings are interleaved with organic product listings, is a large and growing phenomenon. In this paper, we both theoretically and empirically study whether including sponsored listings improves or hurts the overall quality and relevance of the set of products displayed to consumers. Our theoretical analysis reveals that the relevance of the ads to the consumers' search queries depends on the level of information asymmetry between the marketplace owner and the sellers who sell products with different degrees of relevance. Specifically, when information asymmetry is low (high), i.e., the platform can (cannot) easily distinguish between high- and low-relevance sellers, then low-relevance (high-relevance) sellers have a greater incentive to advertise. However, even when low-relevance products are displayed as ads, consumers end up finding well-matching products as long as search and evaluation costs are reasonable; therefore, the overall impact on sales is relatively small while the marketplace benefits from the additional revenue from selling ads. We obtain data from a large-scale field experiment run at Flipkart, a leading online marketplace in India, and find that various empirical patterns implied by our theoretical results hold in the data. Our study provides several practical implications for managers of online marketplaces.","PeriodicalId":18516,"journal":{"name":"Microeconomics: Production","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89565921","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 6

Power and Productivity: Institutions, Ideology, and Technology in Political Economy 权力与生产力:政治经济学中的制度、意识形态和技术

Microeconomics: Production Pub Date : 2019-12-14 DOI: 10.2139/ssrn.3503962

Y. Benkler

{"title":"Power and Productivity: Institutions, Ideology, and Technology in Political Economy","authors":"Y. Benkler","doi":"10.2139/ssrn.3503962","DOIUrl":"https://doi.org/10.2139/ssrn.3503962","url":null,"abstract":"Market democracies struggle with economic insecurity and growing inequality, presenting new threats to democracy. The revival of “political economy” offers a frame for understanding the relationship between productivity and justice in market societies. It reintegrates power and the social and material context—institutions, ideology, and technology—into our analysis of social relations of production, or how we make and distribute what we need and want to have. Organizations and individuals, alone and in networks, struggle over how much of a society’s production happens in a market sphere, how much happens in nonmarket relations, and how embedded those aspects that do occur in markets are in social relations of mutual obligation and solidarism. These struggles at the micro, meso, and macro levels involve efforts to shape institutions, ideology, and technology in ways that trade off productivity and power, both in the short and long term, including through the production and exploitation of atavistic status-hierarchies, primarily race, gender, and immigration. The outcome of this struggle shapes the divergent paths that diverse market societies take, from oligarchic to egalitarian, and their stability as pluralistic democracies.","PeriodicalId":18516,"journal":{"name":"Microeconomics: Production","volume":"48 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89790691","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1