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The effects of removing gender-based price discrimination on movie demand: Estimates using smartphone location data 消除基于性别的价格歧视对电影需求的影响：利用智能手机位置数据进行估算
IF 1.7 3区 经济学
International Journal of Industrial Organization Pub Date : 2024-10-15 DOI: 10.1016/j.ijindorg.2024.103113
Yaxi Jiang
{"title":"The effects of removing gender-based price discrimination on movie demand: Estimates using smartphone location data","authors":"Yaxi Jiang","doi":"10.1016/j.ijindorg.2024.103113","DOIUrl":"10.1016/j.ijindorg.2024.103113","url":null,"abstract":"<div><div>Since 2021, an increasing number of movie complex firms in Japan have eliminated long-standing gender-based price discrimination by replacing discounts for only women with discounts for all customers. This study examines the impact of this discount change on movie demand. Using theater-level visit data by gender and a difference-in-differences strategy, I find increased movie demand for both males and females, indicating inter-gender interdependence of movie demand. A profit analysis shows that the average movie theater profit remains at the same level as that before the discount adjustment. Lastly, combining the difference-in-differences estimates with a random utility model reveals that joint movie consumption enhances paired customers' movie-watching utility.</div></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"97 ","pages":"Article 103113"},"PeriodicalIF":1.7,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142442290","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
Why do some new products fail? Evidence from the entry and exit of Vanilla Coke 为什么有些新产品会失败？香草可乐进入和退出市场的证据
IF 1.7 3区 经济学
International Journal of Industrial Organization Pub Date : 2024-10-15 DOI: 10.1016/j.ijindorg.2024.103112
Robert Clark, Yiran Gong
{"title":"Why do some new products fail? Evidence from the entry and exit of Vanilla Coke","authors":"Robert Clark,&nbsp;Yiran Gong","doi":"10.1016/j.ijindorg.2024.103112","DOIUrl":"10.1016/j.ijindorg.2024.103112","url":null,"abstract":"<div><div>We study a new brand (Coca-Cola's Vanilla Coke) that was discontinued after its introduction, to investigate reasons for its failure and why it was ever introduced in the first place. We estimate demand and supply and simulate a scenario in which it was not introduced. We estimate profit gains and show they may have been insufficient to cover fixed costs. We analyze the importance of variables for explaining its failure, investigating the levels of each required to cover fixed costs. We then explain how Coca-Cola may have incorrectly forecast the levels of these variables by focusing on their pre-introduction values.</div></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"97 ","pages":"Article 103112"},"PeriodicalIF":1.7,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142534915","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
Bargaining on price on behalf of price-insensitive downstream consumers 代表对价格不敏感的下游消费者进行价格谈判
IF 1.7 3区 经济学
International Journal of Industrial Organization Pub Date : 2024-09-24 DOI: 10.1016/j.ijindorg.2024.103107
Guy Arie , Paul L.E. Grieco , Shiran Rachmilevitch
{"title":"Bargaining on price on behalf of price-insensitive downstream consumers","authors":"Guy Arie ,&nbsp;Paul L.E. Grieco ,&nbsp;Shiran Rachmilevitch","doi":"10.1016/j.ijindorg.2024.103107","DOIUrl":"10.1016/j.ijindorg.2024.103107","url":null,"abstract":"<div><div>There are settings in which prices are negotiated by procurement agents and final consumption decisions are made by end users who are indifferent to negotiated prices. For example, a patient seeking medical treatment is indifferent to the treatment's cost if it is covered by his insurance program. We study bargaining for per-unit prices between suppliers and an intermediary who represents price-insensitive consumers. Under the commonly used simultaneous bargaining framework we show that, if suppliers have sufficiently high bargaining power, the resulting prices will exceed the value of the good (or service) being delivered. This overpricing is solved if simultaneous negotiations are replaced by sequential ones. The theoretical problem with sequential negotiations is that they necessitate treating the suppliers asymmetrically, even if they are symmetric; the empirical problem with sequential negotiations is that the negotiations-order is unobservable. We propose a multi-period model that resolves these issues: overpricing is prevented and all suppliers are treated the same. In this model, the result about sequential negotiations is utilized in order to produce (asymmetric) off-path threats. These threats sustain symmetric on-path play.</div></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"97 ","pages":"Article 103107"},"PeriodicalIF":1.7,"publicationDate":"2024-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142326819","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
Redesigning automated market power mitigation in electricity markets 重新设计电力市场中的自动市场力量缓解措施
IF 1.7 3区 经济学
International Journal of Industrial Organization Pub Date : 2024-09-23 DOI: 10.1016/j.ijindorg.2024.103108
Jacqueline Adelowo , Moritz Bohland
{"title":"Redesigning automated market power mitigation in electricity markets","authors":"Jacqueline Adelowo ,&nbsp;Moritz Bohland","doi":"10.1016/j.ijindorg.2024.103108","DOIUrl":"10.1016/j.ijindorg.2024.103108","url":null,"abstract":"<div><div>Electricity markets are prone to the abuse of market power. Several U.S. markets employ algorithms to monitor and mitigate market power abuse in real-time. The performance of automated mitigation procedures is contingent on precise estimates of firms' marginal production costs. Currently, marginal cost is inferred from the past offers of a plant. We present new estimation approaches and compare them to the currently applied benchmark method. We test the performance of all approaches on auction data from the Iberian power market. The results show that our novel approaches outperform the benchmark approach significantly, reducing the mean (median) absolute estimation error from 11.53 (6.08) €/MWh in the benchmark to 4.03 (2.64) €/MWh for our preferred approach. This approach also performs best in our subsequent simulation of mitigation procedures. Here we find large welfare transfers from supplier to buyer surplus as well as a robust overall welfare gain, stemming from both productive and allocative efficiency gains. Our research contributes to accurate monitoring of market power and improved automated mitigation. Although we focus on power markets, our findings are applicable to monitoring of renewable energy tenders or market power surveillance in rail and air traffic.</div></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"97 ","pages":"Article 103108"},"PeriodicalIF":1.7,"publicationDate":"2024-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142319890","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
Who versus when: Designing decision processes in organizations 谁与何时：设计组织中的决策过程
IF 1.7 3区 经济学
International Journal of Industrial Organization Pub Date : 2024-09-23 DOI: 10.1016/j.ijindorg.2024.103111
Roi Orzach
{"title":"Who versus when: Designing decision processes in organizations","authors":"Roi Orzach","doi":"10.1016/j.ijindorg.2024.103111","DOIUrl":"10.1016/j.ijindorg.2024.103111","url":null,"abstract":"<div><div>This paper analyzes concurrent versus sequential decision-making in a model where two units first communicate and then make decisions, attempting to both adapt to their local conditions and coordinate with their partner. Sequential decision-making improves overall information sharing compared to concurrent decision-making. However, first movers also have an incentive to over-adapt to their state, knowing second movers will conform to their decision. A surplus-maximizing headquarters prefers sequential decision-making to concurrent if and only if (i) the two units' local conditions have sufficiently different volatilities and (ii) their need to coordinate is sufficiently asymmetric or low. Finally, sequential decision-making is shown to be optimal even when allowing for additional governance structures involving the reallocation of decision rights across the units and the headquarters and is shown to render some commonly-analyzed forms of decentralization sub-optimal.</div></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"97 ","pages":"Article 103111"},"PeriodicalIF":1.7,"publicationDate":"2024-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142315428","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
The impact of cartel dissolution on prices: Evidence from the air cargo cartel 卡特尔解体对价格的影响：航空货运卡特尔的证据
IF 1.7 3区 经济学
International Journal of Industrial Organization Pub Date : 2024-09-19 DOI: 10.1016/j.ijindorg.2024.103109
Douglas C. Turner
{"title":"The impact of cartel dissolution on prices: Evidence from the air cargo cartel","authors":"Douglas C. Turner","doi":"10.1016/j.ijindorg.2024.103109","DOIUrl":"10.1016/j.ijindorg.2024.103109","url":null,"abstract":"<div><div>I analyze pricing behavior before and after the detection of an air cargo cartel using a novel, hand-collected dataset. I find that prices did not decline after the cartel's detection. Additionally, pricing patterns are consistent with post-cartel tacit collusion. My findings suggest that airlines' cartel activity (specifically, the development of a methodology for determining the collusive price) laid a foundation for future tacit collusion. As a result, airlines profited from cartel activity, and shippers paid elevated prices, long after the cartel's dissolution.</div></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"97 ","pages":"Article 103109"},"PeriodicalIF":1.7,"publicationDate":"2024-09-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142310695","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
Market power, randomization and regulation 市场支配力、随机化和监管
IF 1.7 3区 经济学
International Journal of Industrial Organization Pub Date : 2024-09-01 DOI: 10.1016/j.ijindorg.2024.103081
{"title":"Market power, randomization and regulation","authors":"","doi":"10.1016/j.ijindorg.2024.103081","DOIUrl":"10.1016/j.ijindorg.2024.103081","url":null,"abstract":"<div><p>This paper provides an introduction to and overview of the mechanism design approach to textbook monopoly and monopsony pricing problems. Specifically, assuming that agents are privately informed about their values and costs, it shows that the optimal selling and procurement mechanisms quite generally involve rationing, provided the underlying mechanism design problem does not satisfy the regularity assumption of <span><span>Myerson (1981)</span></span>. Rationing takes the form of underpricing in the case of a monopoly seller and of involuntary unemployment and efficiency wages in the case of a monopsony employer. The paper illustrates these phenomena, as well as the effects of price ceilings and minimum wages, with a leading example that permits closed-form solutions. It also explains why resale tends to undermine the firm's benefits from rationing without eliminating them and discusses emerging issues for the theory of regulation.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"96 ","pages":"Article 103081"},"PeriodicalIF":1.7,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167718724000365/pdfft?md5=cdf3e6883c7b012e4c8aa2ac6e4390c1&pid=1-s2.0-S0167718724000365-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141525577","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Ownership frictions in a procurement market: Evidence from London buses 采购市场中的所有权摩擦：伦敦公交车的证据
IF 1.7 3区 经济学
International Journal of Industrial Organization Pub Date : 2024-09-01 DOI: 10.1016/j.ijindorg.2024.103080
{"title":"Ownership frictions in a procurement market: Evidence from London buses","authors":"","doi":"10.1016/j.ijindorg.2024.103080","DOIUrl":"10.1016/j.ijindorg.2024.103080","url":null,"abstract":"<div><p>This paper investigates the efficiency impact of garage ownership frictions in the procurement of public bus transportation services in London. In this market, operators are less competitive for routes far from their garages, leading to local monopoly rents. Empty bus travel between garages and routes (<em>dead miles</em>) is found to account for about 13 percent of driving time in this market. Consequentially, sizeable effects of dead mile minutes on bids and procurement costs are estimated. Taking the urban context and the demand side as given, and treating this market as a typical network industry, counterfactual simulations evaluate the effect of unbundling the ownership of bus garages from the operation of the bus routes. Letting a central dispatcher allocate buses to garages would reduce total dead miles by 14 percent, with corresponding reductions of operating costs and of polluting exhaust emissions.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"96 ","pages":"Article 103080"},"PeriodicalIF":1.7,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167718724000353/pdfft?md5=399f1b60eb0bf594dc38ff5e5b8961d3&pid=1-s2.0-S0167718724000353-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141547904","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Drivers of public procurement prices: Evidence from pharmaceutical markets 公共采购价格的驱动因素：医药市场的证据
IF 1.7 3区 经济学
International Journal of Industrial Organization Pub Date : 2024-09-01 DOI: 10.1016/j.ijindorg.2024.103086
Claudia Allende , Juan Pablo Atal , Rodrigo Carril , José Ignacio Cuesta , Andrés González-Lira
{"title":"Drivers of public procurement prices: Evidence from pharmaceutical markets","authors":"Claudia Allende ,&nbsp;Juan Pablo Atal ,&nbsp;Rodrigo Carril ,&nbsp;José Ignacio Cuesta ,&nbsp;Andrés González-Lira","doi":"10.1016/j.ijindorg.2024.103086","DOIUrl":"10.1016/j.ijindorg.2024.103086","url":null,"abstract":"<div><p>This paper examines the determinants of public procurement prices using comprehensive data on pharmaceutical purchases by the public sector in Chile. We first document sizable price differences between buyers for the same product and quantity purchased: the difference between the average prices paid by buyers at the 90<em>th</em> and 10<em>th</em> percentiles of the distribution is 16 percent. Our main results are related to the importance of market structure in explaining the dispersion in procurement prices. We find that market structure explains three times more dispersion than buyer effects. Moreover, we leverage exogenous variation in market structure due to patent expirations to estimate that the entry of an additional seller decreases average procurement prices by 11.7 percent, which is 72 percent of the price differences implied by the gap between the 90<em>th</em> and 10<em>th</em> percentiles of estimated buyer effects. These results suggest that supply-side factors are relevant determinants of public procurement prices and that their quantitative importance may exceed that of demand-side factors previously emphasized in the literature.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"96 ","pages":"Article 103086"},"PeriodicalIF":1.7,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0167718724000419/pdfft?md5=5d6e83dee49023509a505affcf4a6c2e&pid=1-s2.0-S0167718724000419-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141713078","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The effects of short-term rental regulation: Insights from Chicago 短期租赁监管的效果：芝加哥的启示
IF 1.7 3区 经济学
International Journal of Industrial Organization Pub Date : 2024-09-01 DOI: 10.1016/j.ijindorg.2024.103087
Ginger Zhe Jin , Liad Wagman , Mengyi Zhong
{"title":"The effects of short-term rental regulation: Insights from Chicago","authors":"Ginger Zhe Jin ,&nbsp;Liad Wagman ,&nbsp;Mengyi Zhong","doi":"10.1016/j.ijindorg.2024.103087","DOIUrl":"10.1016/j.ijindorg.2024.103087","url":null,"abstract":"<div><p>We provide an in-depth study of short-term rental (STR) regulation in Chicago. While many municipalities choose between outright bans or laissez-faire strategies concerning STR activities, Chicago pioneered a middle-ground ordinance, enabling the market to exist with limitations and registrations, and imposing a new tax. We show that compared to three control cities, the number of active Airbnb listings in Chicago declined 16.4% in the two years after the ordinance, but this effect is only significant after the city began receiving detailed data feeds from STR platforms. We further demonstrate (i) localized reductions in burglaries near buildings that prohibit STR listings as part of a new capability of the ordinance, (ii) Airbnb revenues declined more in zip codes with above-median hotel revenues, and (iii) Chicago's middle ground approach generated different and nuanced effects on different STR stakeholders, including the city itself in terms of its STR tax revenues.</p></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":"96 ","pages":"Article 103087"},"PeriodicalIF":1.7,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141872489","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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