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A mixed duopoly input market: uniform pricing versus spatial price discrimination 混合双头垄断投入市场：统一定价与空间价格歧视
IF 1.7 4区 经济学
Journal of Economics Pub Date : 2024-09-05 DOI: 10.1007/s00712-024-00883-w
John S. Heywood, Zerong Wang, Guangliang Ye
{"title":"A mixed duopoly input market: uniform pricing versus spatial price discrimination","authors":"John S. Heywood, Zerong Wang, Guangliang Ye","doi":"10.1007/s00712-024-00883-w","DOIUrl":"https://doi.org/10.1007/s00712-024-00883-w","url":null,"abstract":"<p>We uniquely model an upstream mixed duopoly engaging in either uniform pricing or spatial price discrimination when facing a continuum of downstream firms. Uniform pricing generates higher welfare with a fully public firm. Uniform pricing generates greater optimal partial privatization except when the cost disadvantage of the public firm is large and downstream cost convexity is large. Similarly, welfare under optimal partial privatization is larger under uniform pricing except when the cost disadvantage of the public firm is relatively large and downstream cost convexity is large. Thus, the implications of the pricing scheme depend critically on the upstream and downstream cost structure and the ownership structure.</p>","PeriodicalId":47523,"journal":{"name":"Journal of Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142177579","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}
引用次数: 0
Signaling games with a highly effective signal 高效信号游戏
IF 1.7 4区 经济学
Journal of Economics Pub Date : 2024-09-04 DOI: 10.1007/s00712-024-00882-x
Miguel Ángel Ropero García
{"title":"Signaling games with a highly effective signal","authors":"Miguel Ángel Ropero García","doi":"10.1007/s00712-024-00882-x","DOIUrl":"https://doi.org/10.1007/s00712-024-00882-x","url":null,"abstract":"<p>We study a class of signaling games in which one of the signals induces the receiver to take an action that provides the sender with the highest utility. This class of games has multiple pooling equilibria, but the equilibrium in which all senders<i>′</i> types choose the signal that induces the receiver to take that action is more plausible than others. Although all the equilibria in pure strategies are divine in our class of games when the single-crossing condition is not satisfied, only the plausible equilibrium is a neologism-proof equilibrium. Therefore, we have identified a general class of signaling games in which the neologism-proof equilibrium is useful to select the most plausible equilibrium, whereas all the pooling equilibria survive divinity and other less restrictive refinements. We apply our model to an educational signaling game with two features. First, the highest level of education allows a worker to access a more productive segment of the labor market. Second, the educational system is non-selective and consequently, the cost of education does not change with the worker<i>′</i>s ability. As expected, there is overeducation in equilibrium because all worker<i>′</i>s types choose the highest level of education.</p>","PeriodicalId":47523,"journal":{"name":"Journal of Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142177580","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}
引用次数: 0
Park, J.: slow burn: the hidden costs of a warming world, 336 pp., Princeton University Press, 2024, hardback $ 29.95 Park, J.: Slow Burn: the hidden costs of a warming world, 336 pp.
IF 1.6 4区 经济学
Journal of Economics Pub Date : 2024-08-09 DOI: 10.1007/s00712-024-00881-y
Gregor Schwerhoff
{"title":"Park, J.: slow burn: the hidden costs of a warming world, 336 pp., Princeton University Press, 2024, hardback $ 29.95","authors":"Gregor Schwerhoff","doi":"10.1007/s00712-024-00881-y","DOIUrl":"https://doi.org/10.1007/s00712-024-00881-y","url":null,"abstract":"","PeriodicalId":47523,"journal":{"name":"Journal of Economics","volume":null,"pages":null},"PeriodicalIF":1.6,"publicationDate":"2024-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141921961","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}
引用次数: 0
Aggregation of directional distance functions and industrial efficiency: a note 定向距离函数的聚合与工业效率：说明
IF 1.7 4区 经济学
Journal of Economics Pub Date : 2024-07-18 DOI: 10.1007/s00712-024-00880-z
Giannis Karagiannis
{"title":"Aggregation of directional distance functions and industrial efficiency: a note","authors":"Giannis Karagiannis","doi":"10.1007/s00712-024-00880-z","DOIUrl":"https://doi.org/10.1007/s00712-024-00880-z","url":null,"abstract":"<p>Briec et al. (2003) Aggregation of directional distance functions and industrial efficiency. J Econ 79:237–261) showed that industrial and structural efficiency are identical in the context of cost aggregation if all firms use the same technology, a single output is produced and constant returns to scale prevail. In this note it is shown that the same is also true if the technology is additive, which is equivalently referred to as independence in production or input non-jointness.</p>","PeriodicalId":47523,"journal":{"name":"Journal of Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141744812","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}
引用次数: 0
Optimal insurance for repetitive natural disasters under moral hazard 道德风险下重复自然灾害的最优保险
IF 1.6 4区 经济学
Journal of Economics Pub Date : 2024-07-15 DOI: 10.1007/s00712-024-00876-9
Hangsuck Lee, Minha Lee, Jimin Hong
{"title":"Optimal insurance for repetitive natural disasters under moral hazard","authors":"Hangsuck Lee, Minha Lee, Jimin Hong","doi":"10.1007/s00712-024-00876-9","DOIUrl":"https://doi.org/10.1007/s00712-024-00876-9","url":null,"abstract":"","PeriodicalId":47523,"journal":{"name":"Journal of Economics","volume":null,"pages":null},"PeriodicalIF":1.6,"publicationDate":"2024-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141647202","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}
引用次数: 0
Climate change and wage inequality 气候变化与工资不平等
IF 1.7 4区 经济学
Journal of Economics Pub Date : 2024-07-06 DOI: 10.1007/s00712-024-00877-8
Jiancai Pi, Yuhan Luo
{"title":"Climate change and wage inequality","authors":"Jiancai Pi, Yuhan Luo","doi":"10.1007/s00712-024-00877-8","DOIUrl":"https://doi.org/10.1007/s00712-024-00877-8","url":null,"abstract":"<p>We develop general equilibrium models that incorporate an agricultural equipment sector to explore the impact of climate change on skilled-unskilled wage inequality in a small open economy, with a specific focus on the role of the domestic capital market. In the model with the agricultural equipment sector using skilled labor as input, we illustrate that climate change decreases both skilled and unskilled wages. However, its effect on wage inequality varies depending on the discrepancy of the capital intensity between the urban skilled and unskilled sectors. Moreover, if the demand for capital in the agricultural equipment sector significantly influences the capital market, this sector will not only act as a buffer, but also trigger a reversal change of wage inequality. To enhance the robustness of our findings, we extend the model to include considerations of public goods provision and taxation.</p>","PeriodicalId":47523,"journal":{"name":"Journal of Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141566347","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}
引用次数: 0
Supply shift by a vertically integrated foreign firm under domestic integration 国内一体化条件下纵向一体化外国公司的供应转移
IF 1.7 4区 经济学
Journal of Economics Pub Date : 2024-07-03 DOI: 10.1007/s00712-024-00879-6
Chuyuan Zhang, Sang-Ho Lee
{"title":"Supply shift by a vertically integrated foreign firm under domestic integration","authors":"Chuyuan Zhang, Sang-Ho Lee","doi":"10.1007/s00712-024-00879-6","DOIUrl":"https://doi.org/10.1007/s00712-024-00879-6","url":null,"abstract":"<p>This study constructs a vertical structure model where domestic upstream and downstream firms compete with a vertically integrated foreign firm (VIFF), and examines firms’ supply decisions under domestic firms’ separation and integration. We find that the VIFF would switch its supply schedule in both markets, depending on separation and integration, which also shapes different supply decisions of the integrated domestic firm. We demonstrate that industry supply under separation might be socially beneficial if VIFF supplies the final goods, while that under integration decreases welfare unless the number of downstream firm ex-post integration is intermediate. We also examine strategic choices between separation and integration, showing that strategic integration can eliminate these welfare-distortion effects, caused by the VIFF’s switch in its supply decisions, while strategic separation might decrease welfare. Our findings highlight the possible anti-competitiveness of vertical integration when the strategic reactions between the supply shift by the VIFF and domestic integration are relevant.</p>","PeriodicalId":47523,"journal":{"name":"Journal of Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141525515","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}
引用次数: 0
Working from home, wages, housing prices, and welfare 在家工作、工资、房价和福利
IF 1.7 4区 经济学
Journal of Economics Pub Date : 2024-06-15 DOI: 10.1007/s00712-024-00878-7
Kangoh Lee
{"title":"Working from home, wages, housing prices, and welfare","authors":"Kangoh Lee","doi":"10.1007/s00712-024-00878-7","DOIUrl":"https://doi.org/10.1007/s00712-024-00878-7","url":null,"abstract":"","PeriodicalId":47523,"journal":{"name":"Journal of Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141337839","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}
引用次数: 1
Platform investment and seller competition in two-sided markets 双面市场中的平台投资和卖方竞争
IF 1.7 4区 经济学
Journal of Economics Pub Date : 2024-06-06 DOI: 10.1007/s00712-024-00874-x
Francesco Angelini, Massimiliano Castellani, Lorenzo Zirulia
{"title":"Platform investment and seller competition in two-sided markets","authors":"Francesco Angelini, Massimiliano Castellani, Lorenzo Zirulia","doi":"10.1007/s00712-024-00874-x","DOIUrl":"https://doi.org/10.1007/s00712-024-00874-x","url":null,"abstract":"","PeriodicalId":47523,"journal":{"name":"Journal of Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141376705","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}
引用次数: 0
Public investment, factor income taxation, and intergenerational welfare distribution in an overlapping generations model 世代重叠模型中的公共投资、要素所得税和代际福利分配
IF 1.7 4区 经济学
Journal of Economics Pub Date : 2024-06-03 DOI: 10.1007/s00712-024-00875-w
Toshiki Tamai
{"title":"Public investment, factor income taxation, and intergenerational welfare distribution in an overlapping generations model","authors":"Toshiki Tamai","doi":"10.1007/s00712-024-00875-w","DOIUrl":"https://doi.org/10.1007/s00712-024-00875-w","url":null,"abstract":"<p>This paper examines intergenerational welfare effects of public investment financed by factor income taxes in a perpetual-youth overlapping generations model. With elastic labor supply, our analysis shows that long-run employment increases as the tax rate on capital income increases. The positive long-run effect of capital income taxation on employment weakens the negative growth effect of tax distortion. In contrast, the long-run employment might decrease as the tax rate on labor income increases. Hence, the negative long-run effect of labor income taxation on employment strengthens the negative growth effect due to the tax distortion. Finally, this paper reveals that older people with more financial wealth suffer more significant welfare loss from the increased tax on each capital and labor income than younger people if the increased tax impedes economic growth. Furthermore, the increased tax harms the younger generations more than the older generations at the aggregate level because they have a larger population than the older people. However, the negative welfare effects of labor income taxation are stronger than those of capital income taxation because of the negative effect of labor income taxation on employment, which leads to a lower equilibrium growth rate.</p>","PeriodicalId":47523,"journal":{"name":"Journal of Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141258261","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}
引用次数: 0
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