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International Journal of Industrial Organization最新文献

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Pass-through and tax incidence in differentiated product markets 差异化产品市场中的转嫁和税收发生率
IF 1.5 3区 经济学
International Journal of Industrial Organization Pub Date : 2023-09-01 DOI: 10.1016/j.ijindorg.2023.102985
Eugenio J. Miravete , Katja Seim , Jeff Thurk
{"title":"Pass-through and tax incidence in differentiated product markets","authors":"Eugenio J. Miravete ,&nbsp;Katja Seim ,&nbsp;Jeff Thurk","doi":"10.1016/j.ijindorg.2023.102985","DOIUrl":"10.1016/j.ijindorg.2023.102985","url":null,"abstract":"<div><p>The role of demand curvature in determining firm behavior in symmetric oligopolistic product markets is well-understood. We consider the empirically relevant discrete choice differentiated product demand and point to two forces that drive curvature in logit demand: the impact of outside-good spending on the consumer’s indirect utility and the heterogeneity in this response across consumers. We use the canonical example of the ready-to-eat cereal market (Nevo, 2000) to contrast elasticity and curvature estimates across several workhorse models. We illustrate that the log-concave Multinomial Logit and Nested Logit demands yield significantly biased curvature estimates. In contrast, a Mixed Logit specification generates a wider range of curvatures, including curvatures larger than one. These results are of immediate relevance to the robust assessment of tax incidence and the pass-through of cost savings, such as from a horizontal merger, in differentiated product markets.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"90 ","pages":"Article 102985"},"PeriodicalIF":1.5,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43165934","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Self-preferencing and foreclosure in digital markets: Theories of harm for abuse cases 数字市场中的自我偏好和丧失抵押品赎回权:滥用案件的伤害理论
IF 1.5 3区 经济学
International Journal of Industrial Organization Pub Date : 2023-09-01 DOI: 10.1016/j.ijindorg.2023.102974
Massimo Motta
{"title":"Self-preferencing and foreclosure in digital markets: Theories of harm for abuse cases","authors":"Massimo Motta","doi":"10.1016/j.ijindorg.2023.102974","DOIUrl":"10.1016/j.ijindorg.2023.102974","url":null,"abstract":"<div><p>Antitrust agencies all over the world have been investigating large digital platforms for practices which may constitute an abuse of dominance. Here I discuss practices (including ‘self-preferencing’ and denial or degradation of interoperability) which can be interpreted as foreclosure in vertically-related or complementary markets. I discuss, in particular, a few high-profile cases involving Amazon, Apple, Facebook and Google. I focus on possible theories of harm for such cases and show that both original simple models and well-established economic theories (adapted or interpreted) provide a rationale for anti-competitive foreclosure.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"90 ","pages":"Article 102974"},"PeriodicalIF":1.5,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44754607","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 3
Algorithmic collusion: Genuine or spurious? 算法合谋:真实还是虚假?
IF 1.5 3区 经济学
International Journal of Industrial Organization Pub Date : 2023-09-01 DOI: 10.1016/j.ijindorg.2023.102973
Emilio Calvano , Giacomo Calzolari , Vincenzo Denicolò , Sergio Pastorello
{"title":"Algorithmic collusion: Genuine or spurious?","authors":"Emilio Calvano ,&nbsp;Giacomo Calzolari ,&nbsp;Vincenzo Denicolò ,&nbsp;Sergio Pastorello","doi":"10.1016/j.ijindorg.2023.102973","DOIUrl":"10.1016/j.ijindorg.2023.102973","url":null,"abstract":"<div><p>Reinforcement-learning pricing algorithms sometimes converge to supra-competitive prices even in markets where collusion is impossible by design or cannot be an equilibrium outcome. We analyze when such spurious collusion may arise, and when instead the algorithms learn genuinely collusive strategies, focusing on the role of the rate and mode of exploration.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"90 ","pages":"Article 102973"},"PeriodicalIF":1.5,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48840104","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Price and quantity discovery without commitment 没有承诺的价格和数量发现
IF 1.5 3区 经济学
International Journal of Industrial Organization Pub Date : 2023-09-01 DOI: 10.1016/j.ijindorg.2023.102987
Stefan Bergheimer , Estelle Cantillon , Mar Reguant
{"title":"Price and quantity discovery without commitment","authors":"Stefan Bergheimer ,&nbsp;Estelle Cantillon ,&nbsp;Mar Reguant","doi":"10.1016/j.ijindorg.2023.102987","DOIUrl":"10.1016/j.ijindorg.2023.102987","url":null,"abstract":"<div><p>Wholesale electricity markets solve a complex allocation problem: electricity is not storable, demand is uncertain, and production involves dynamic cost considerations and indivisibilities. The New Zealand wholesale electricity market attempts to solve this complex allocation problem by using an indicative price and quantity discovery mechanism that ends at dispatch. Can such a market mechanism without commitment provide useful information? We document that indicative prices and quantities are increasingly informative of the final prices and quantities and that bid revisions are consistent with information-based updating. We argue that the reason why the predispatch market is informative despite the lack of commitment is that it generates private benefits in terms of improved intertemporal optimization of production plans.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"90 ","pages":"Article 102987"},"PeriodicalIF":1.5,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42057113","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Buyer power and exclusion: A progress report 买方权力和排除:进度报告
IF 1.5 3区 经济学
International Journal of Industrial Organization Pub Date : 2023-09-01 DOI: 10.1016/j.ijindorg.2023.102969
Claire Chambolle , Clémence Christin , Hugo Molina
{"title":"Buyer power and exclusion: A progress report","authors":"Claire Chambolle ,&nbsp;Clémence Christin ,&nbsp;Hugo Molina","doi":"10.1016/j.ijindorg.2023.102969","DOIUrl":"https://doi.org/10.1016/j.ijindorg.2023.102969","url":null,"abstract":"<div><p>This article presents recent advances in the analysis of buyer-seller networks, with a particular focus on the role of buyer power on exclusion. We first examine simple vertical structures and highlight that either upstream or downstream firms may have incentives to engage in exclusionary practices to either counteract or leverage buyer power. We then review current work attempting to revisit this issue in “interlocking relationships”. Based on an ongoing research project, we show that the same exclusion mechanisms arise when retail substitution is soft.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"90 ","pages":"Article 102969"},"PeriodicalIF":1.5,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49720864","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Cournot platform competition with mixed-homing 古诺平台与混居竞争
IF 1.5 3区 经济学
International Journal of Industrial Organization Pub Date : 2023-07-17 DOI: 10.1016/j.ijindorg.2023.103002
Mark J. Tremblay , Takanori Adachi , Susumu Sato
{"title":"Cournot platform competition with mixed-homing","authors":"Mark J. Tremblay ,&nbsp;Takanori Adachi ,&nbsp;Susumu Sato","doi":"10.1016/j.ijindorg.2023.103002","DOIUrl":"https://doi.org/10.1016/j.ijindorg.2023.103002","url":null,"abstract":"<div><p>Competition in quantity dates back to Cournot (1838) for traditional markets and Katz and Shapiro (1985) for markets with direct network effects. In this paper, we consider Cournot platform competition in two-sided markets with indirect network effects while allowing for single-, multi-, and mixed-homing allocations. We find that the markup and markdown terms that are typically found in monopoly two-sided pricing are distorted toward zero when platform competition intensifies. We also generalize the monopoly platform Lerner indices from Armstrong (2006) and Weyl (2010) to include competition and mixed-homing allocations. Lastly, we show that welfare decreases in the number of platforms for the most commonly considered homing allocations, highlighting how the welfare loss from breaking up a network across smaller platforms can outweigh the welfare benefits from lower aggregate prices in a setting where platforms are homogenous.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"91 ","pages":"Article 103002"},"PeriodicalIF":1.5,"publicationDate":"2023-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49723138","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Barriers to real-time electricity pricing: Evidence from New Zealand 实时电价的障碍:来自新西兰的证据
IF 1.5 3区 经济学
International Journal of Industrial Organization Pub Date : 2023-07-01 DOI: 10.1016/j.ijindorg.2023.102979
Charles Pébereau , Kevin Remmy
{"title":"Barriers to real-time electricity pricing: Evidence from New Zealand","authors":"Charles Pébereau ,&nbsp;Kevin Remmy","doi":"10.1016/j.ijindorg.2023.102979","DOIUrl":"10.1016/j.ijindorg.2023.102979","url":null,"abstract":"<div><p>This paper studies the introduction of real-time electricity pricing in the New Zealand residential retail market to understand why its market share remained below 1.25%. We use rich panel data of all retail switches between 2014 and 2018 and an unexpected wholesale price spike to study adoption and attrition. Exploiting the staggered roll-out of real-time pricing in different locations we find that attrition decreases with experience. We also find that prospective adopters are present biased. The combination of these findings explains why adoption stalled and shows that wholesale price spikes pose a serious threat to widespread adoption of real-time pricing.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"89 ","pages":"Article 102979"},"PeriodicalIF":1.5,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41858100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Telemedicine competition, pricing, and technology adoption: Evidence from talk therapists 远程医疗的竞争、定价和技术采用:来自谈话治疗师的证据
IF 1.5 3区 经济学
International Journal of Industrial Organization Pub Date : 2023-07-01 DOI: 10.1016/j.ijindorg.2023.102956
Daniel Goetz
{"title":"Telemedicine competition, pricing, and technology adoption: Evidence from talk therapists","authors":"Daniel Goetz","doi":"10.1016/j.ijindorg.2023.102956","DOIUrl":"https://doi.org/10.1016/j.ijindorg.2023.102956","url":null,"abstract":"<div><p>This paper examines how new telemedicine competitors affected incumbent health care providers during the first waves of COVID-19. Using data from the largest mental health provider search platform in Canada, I show that increased telemedicine competition in a market caused incumbent providers in that market to stop offering income-based discounts to patients. I isolate the causal effect of competition in a difference-in-differences framework, comparing providers before and after a supply shock on the platform that exogenously assigned some markets new telemedicine search results. I find that higher-quality providers are more likely to stop income-based discounts when facing new telemedicine entrants, while lower-quality providers are more likely to exit the platform, which is consistent with telemedicine providers competing for more price-sensitive patients. The results suggest that expanding telemedicine options had a heterogeneous effect on the affordability of care.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"89 ","pages":"Article 102956"},"PeriodicalIF":1.5,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49717406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Cheap Exclusion in Markets with Multiple Complements 多重互补市场中的廉价排斥
IF 1.5 3区 经济学
International Journal of Industrial Organization Pub Date : 2023-07-01 DOI: 10.1016/j.ijindorg.2023.102982
Daniel P. O’Brien, Mark Israel, Erica Benton
{"title":"Cheap Exclusion in Markets with Multiple Complements","authors":"Daniel P. O’Brien,&nbsp;Mark Israel,&nbsp;Erica Benton","doi":"10.1016/j.ijindorg.2023.102982","DOIUrl":"https://doi.org/10.1016/j.ijindorg.2023.102982","url":null,"abstract":"<div><p>We extend the theory of exclusive dealing in first-mover environments to settings where the incumbent seller’s product is used with multiple complements in a distribution chain and the incumbent can sign exclusive dealing contracts with more than one of them. The model is motivated by the market for biosimilar pharmaceuticals, where incumbent sellers that face a threat of entry can sign exclusionary contracts with both providers and insurance carriers prior to entry. We show that when the incumbent’s complementors are vertically related, it can be profitable for the incumbent to sign exclusive contracts with <em>indirect buyers</em>, who operate downstream from the direct buyers of the product. Under linear pricing, such exclusion is profitable if the pass-through rate is sufficiently low, and under nonlinear pricing and symmetric Nash bargaining, it is profitable for all pass-through rates. Complementors face a more severe coordination problem than independent buyers that can make anticompetitive exclusion more likely and especially cheap.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"89 ","pages":"Article 102982"},"PeriodicalIF":1.5,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49735190","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
When can auctions maximize post-auction welfare? 什么时候拍卖能使拍卖后的福利最大化?
IF 1.5 3区 经济学
International Journal of Industrial Organization Pub Date : 2023-07-01 DOI: 10.1016/j.ijindorg.2023.102972
Bernhard Kasberger
{"title":"When can auctions maximize post-auction welfare?","authors":"Bernhard Kasberger","doi":"10.1016/j.ijindorg.2023.102972","DOIUrl":"https://doi.org/10.1016/j.ijindorg.2023.102972","url":null,"abstract":"<div><p>I study auctions in which firms bid for licenses that reduce their marginal costs in a post-auction downstream market. When there are three or more firms, I show that the Vickrey–Clarke–Groves (VCG) auction maximizes consumer surplus in dominant strategies if and only if it maximizes producer surplus in dominant strategies. With two firms, the effect on consumer surplus is ambiguous. When the VCG auction does not maximize consumer surplus, I show that consumer surplus can be maximized by adding caps, i.e., restricting the number of licenses a bidder can win. This might lower producer surplus.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"89 ","pages":"Article 102972"},"PeriodicalIF":1.5,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49761873","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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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