ADVANCES IN LOGISTICS AND THE GROWTH OF INTRA‐FIRM TRADE: THE CASE OF CANADIAN AFFILIATES OF U.S. MULTINATIONALS, 1984–1995*

Intra‐firm trade in intermediates between U.S. multinational parents (MNCs) and their Canadian manufacturing affiliates increased dramatically in the 1984–1995 period (i.e., it roughly doubled). Tariff and transport cost declines were far too small to explain this phenomenon. But we show that the advent of improved logistics management practices, including the ‘just‐in‐time’ (JIT) production system, can explain much of the growth of intra‐firm trade. JIT lowers the inventory carrying cost component of intra‐firm trade, and, by 1984, this was more important than tariff and transport costs in many industries. We combine regression analysis with numerous case studies to draw our conclusions.     

INDIRECT NETWORK EFFECTS AND THE PRODUCT CYCLE: VIDEO GAMES IN THE U.S., 1994–2002*

We examine the importance of indirect network effects in the U.S. video game market between 1994 and 2002. The diffusion of game systems is analyzed by the interaction between console adoption decisions and software supply decisions. Estimation results suggest that introductory pricing is an effective practice at the beginning of the product cycle, and expanding software variety becomes more effective later. We also find a degree of inertia in the software market that does not exist in the hardware market. This observation implies that software providers continue to exploit the installed base of hardware users after hardware demand has slowed.     

TARGETED ADVERTISING: THE ROLE OF SUBSCRIBER CHARACTERISTICS IN MEDIA MARKETS*

This paper seeks to establish the importance of targeted advertising in media markets. Using zip‐code level circulation for U.S. newspapers, I show that newspapers facing more competition have lower circulation prices but higher advertising prices than similar newspapers facing little or no competition. I explain this by showing that newspapers in more competitive markets are better able to segment readers according to their location and demographics. This leads to greater homogeneity in the characteristics of subscribers and raises advertisers' willingness to pay for such readers. The results imply a substantial benefit to advertisers and media firms from targeted advertising.     

TYING IN TWO‐SIDED MARKETS WITH MULTI‐HOMING*

This paper analyzes the effects of tying on market competition and social welfare in two‐sided markets when economic agents can engage in multi‐homing by participating in multiple platforms to reap maximal network benefits. The model shows that tying induces more consumers to multi‐home and makes platform‐specific exclusive content available to more consumers, which is beneficial to content providers. As a result, tying can be welfare‐enhancing if multi‐homing is allowed, even in cases where its welfare impacts are negative in the absence of multi‐homing. The analysis thus can have important implications for recent antitrust cases in industries where multi‐homing is prevalent.     

美国将用RFID为药品防伪

美国食品及药品管理局（FDA）将与几家主要的制药厂进行合作,在药瓶上加装微型天线,利用无线射频识别技术（RFID）打击药品仿冒.首批在药瓶上加装这种微型天线的药品将包括全球假冒现象最严重的“伟哥”（Viagra）以及美国最为人们所滥用的强力止痛药奥施康定（Oxy-Contin）.     

THE ROLE OF COST IN DETERMINING WHEN FIRMS OFFER BUNDLES*

We model competitive bundling and tying, allowing for marginal cost savings from bundling, fixed costs of product offerings, and variation in customer preferences. Pure bundling can arise either because few people demand only one component or because, with high fixed costs, a single product efficiently satisfies customers with diverse tastes. We conclude by analyzing empirically the bundling of pain relievers with decongestants. The discount for the bundled product is large. We argue that our model provides a simpler, more compelling explanation for the size of the discount than the demand‐centered approach to bundling by a monopolist.     

PRICE COMPETITION IN U.S. BREWING*

This study utilizes a brand‐level dataset that captures a unique natural experiment, a 100% increase in the excise tax, to evaluate different pricing models in the U.S. beer industry. To assess the plausibility of different models, the increase in marginal cost resulting from the tax increase is exploited: observed prices in the post‐increase period are compared to the prices that should be observed under various pricing models. Three types of models are analyzed: Bertrand‐Nash, leadership, and collusion. Results indicate that extreme cases of collusion can be confidently ruled out while several models may explain the observed prices equally well.     

美国咨询公司调查表明:大型医疗机构应用RFID处领先地位

Bearing Point是全球知名的管理和技术咨询公司.它和美国国家医疗信息技术联盟展开的最新调查显示：在RFID技术的应用规模上,大型医疗机构在所有行业中处于领先地位.其高级主管人员认为,医疗业在RFID上的投资到2007年初才会大幅增长,而RFID技术对医疗机构实现商业目标至关重要,尤其是在改善患者安全方面。     

ON THE VALUE OF A LARGE CUSTOMER BASE IN MARKETS WITH SWITCHING COSTS*

It is usually acknowledged that firms benefit from a large customer base in markets with switching costs. However, Klemperer [1995] argues that this may not be true if an increase in the size of a firm's customer base induces fierce price competition, making the firm worse off. This paper shows that such an outcome can be obtained under standard assumptions, such as homogeneous goods and uniformly distributed switching costs. In the model, firms have very limited incentives to fight for market shares, and the notion that switching costs make markets less competitive is stronger than previously shown.     

PRODUCT IMPROVEMENT AND TECHNOLOGICAL TYING IN A WINNER‐TAKE‐ALL MARKET*

In a winner‐take‐all duopoly for systems in which firms invest to improve their products, a vertically integrated monopoly supplier of an essential system component may have an incentive to advantage itself by technological tying. If the vertically integrated firm is prevented from technologically tying, there is an equilibrium in which the more efficient firm invests and serves the entire market. However, another equilibrium may exist in which the less efficient firm wins the market. Technological tying enables a vertically integrated firm to foreclose its rival. The welfare implications of technological tying are ambiguous and depend on equilibrium selection.     

COHERENCE OF THE KNOWLEDGE BASE AND THE FIRM'S INNOVATIVE PERFORMANCE: EVIDENCE FROM THE U.S. PHARMACEUTICAL INDUSTRY*

We examine the relationship between the coherence of the knowledge base and the innovative performance of U.S. pharmaceutical firms during the 1990's. We develop measures of the coherence and scope of the firms' knowledge base. Count data regression models show a strong link between these two properties and the firms' innovative performance. Firms experience decreasing returns to scale in research but larger firms enjoy a significant size advantage in innovation. Knowledge flows are necessary in knowledge production but not sufficient to secure its quality. Over time, the contribution of the scope and coherence of the knowledge base is increasing.     

MEASURING THE BUSINESS STEALING,CANNIBALIZATION AND MARKET EXPANSION EFFECTS OF ENTRY IN THE U.S. MOTION PICTURE EXHIBITION MARKET*

Using a large and comprehensive theater level database covering over $18 billion in theater revenues over a five year period, I document the extent and nature of business stealing, revenue cannibalization and market expansion that occurred during the height of the 1990's boom in movie theater construction.     

论石油化工联产品成本的产量分配法和变现净值法

对石油化工联产品成本分配的产量法和变现净值法进行了系统地分析和比较完善的理论证明,指出了该两种方法各自的特点。