{"title":"Fake Sales: A Dynamic Pricing Perspective","authors":"Daniel F. Garrett","doi":"10.1111/jere.12239","DOIUrl":"https://doi.org/10.1111/jere.12239","url":null,"abstract":"<p>Some sellers display high “regular” prices, but mark down these prices the vast majority of the time, advertising the good as “on sale” or “discounted”. This note suggests a framework for understanding the practice, emphasising the role of buyer uncertainty about their future valuations for the good. We argue that so-called “regular” prices set buyers’ expectations regarding future prices, expectations that need not be tethered to the prices actually set. By manipulating upwards buyers’ expectations of future prices, the seller can increase demand for the good at the current “sale” price, increasing profits.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":"70 3","pages":"375-382"},"PeriodicalIF":1.2,"publicationDate":"2019-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12239","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92297271","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Collusion and Information Exchange","authors":"Yu Awaya","doi":"10.1111/jere.12241","DOIUrl":"https://doi.org/10.1111/jere.12241","url":null,"abstract":"<p>Antitrust authorities view that exchange of individual firms’ sales data is more anti-competitive than that of aggregate sales data. In this paper, I survey antitrust implications of such inter-firm information exchange. I argue that both types of information exchange are anti-competitive under some circumstances. More precisely, I compare profits when each type of information exchange is allowed to that when firms can only observe their own sales (Stigler’s secret price-cutting model), and the former is bigger than the latter. I also provide a general method to bound the equilibrium profits without such information exchange.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":"70 3","pages":"394-402"},"PeriodicalIF":1.2,"publicationDate":"2019-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12241","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92320743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Some economics of the movie industry†","authors":"Luís Cabral","doi":"10.1111/jere.12233","DOIUrl":"https://doi.org/10.1111/jere.12233","url":null,"abstract":"<p>A progress report is provided on a long-term research project, joint with Gabriel Natividad, on the economics and strategy of the movie industry. Specifically, a series of empirical papers dealing with demand estimation, pricing and movie-release strategies is surveyed.</p><p>JEL Classification Numbers: L82.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":"70 3","pages":"298-307"},"PeriodicalIF":1.2,"publicationDate":"2019-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12233","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92334375","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Using the Tools of Industrial Organisation to Illuminate the Credit Rating Industry","authors":"Lawrence J. White","doi":"10.1111/jere.12238","DOIUrl":"https://doi.org/10.1111/jere.12238","url":null,"abstract":"<p>Until slightly more than a decade ago, the credit rating industry was largely a little-recognised and little-understood part of the financial system “plumbing”. This obscurity changed with the financial crisis of 2008 and its aftermath. After a few years of intensive attention, however, the CRAs have retreated back to semi-obscurity and attract little media or political attention. The tools of industrial organisation can help us understand this industry: its structure; its behaviour; and its outcomes; and the public policies that are likely to improve its functioning.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":"70 3","pages":"367-374"},"PeriodicalIF":1.2,"publicationDate":"2019-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12238","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92195119","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Editor’s Introduction to Special Issue on Industrial Organization","authors":"Reiko Aoki, Luis Cabral","doi":"10.1111/jere.12231","DOIUrl":"https://doi.org/10.1111/jere.12231","url":null,"abstract":"","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":"70 3","pages":"279"},"PeriodicalIF":1.2,"publicationDate":"2019-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12231","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92369795","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Consumer Inventory and Demand for Storable Goods: New Evidence from a Consumer Survey","authors":"Kazuko Kano","doi":"10.1111/jere.12191","DOIUrl":"10.1111/jere.12191","url":null,"abstract":"<p>In this study, I provide new evidence on consumer inventory from a unique survey on the purchase and inventory of a storable product. I confirm that the predictions regarding the correlations between the key variables of purchase probability, purchase quantity and inventory derived from the standard dynamic models of consumer inventory are consistent with the data. Furthermore, I find that the amount of daily consumption varies within a household across time and depends on inventory holding. The evidence does not conform to a constant consumption rate, which studies often assume for tractability.</p>","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":"69 3","pages":"284-305"},"PeriodicalIF":1.2,"publicationDate":"2018-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12191","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76553731","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Bridging Marketing and Economics: Introduction to Special Issue","authors":"Susumu Imai, Yuka Ohno","doi":"10.1111/jere.12192","DOIUrl":"10.1111/jere.12192","url":null,"abstract":"","PeriodicalId":45642,"journal":{"name":"Japanese Economic Review","volume":"69 3","pages":"255-257"},"PeriodicalIF":1.2,"publicationDate":"2018-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jere.12192","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116922882","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}