共查询到18条相似文献,搜索用时 15 毫秒
1.
In this paper we study how bargainers impact on markets in which firms set a list price to sell to those consumers who take prices as given. The list price acts as an outside option for the bargainers, so the higher the list price, the more the firms can extract from bargainers. We find that an increase in the proportion of consumers seeking to bargain can lower consumer surplus overall, even though new bargainers receive a lower price. The reason is that the list price for those who do not bargain and the bargained prices for those who were already bargaining rise: sellers have a greater incentive to make the bargainers’ outside option less attractive, reducing the incentive to compete for price takers. Competition Authority exhortations to bargain can therefore be misplaced. We also consider the implications for optimal seller bargaining. 相似文献
2.
Information sharing and lending market competition with switching costs and poaching 总被引:1,自引:0,他引:1
Thomas Gehrig 《European Economic Review》2007,51(1):77-99
We analyze information sharing with repeated banking competition. In the presence of switching costs we find that information sharing renders poaching more profitable in future rounds of competition, since the poaching activities can be targeted towards (more) creditworthy borrowers. We find that information sharing reduces relationship benefits, and, therefore relaxes competition for initial market shares. Information sharing introduces a welfare tradeoff by promoting equilibrium profits at the expense of talented entrepreneurs whenever market power persists in credit market, whereas it is a matter of indifference without market power. Thus information sharing may induce exclusion of creditworthy borrowers from credit markets. 相似文献
3.
Jean-Etienne de Bettignies 《The Canadian journal of economics》2006,39(3):948-970
Abstract . This paper studies the effects of product market competition on firm boundaries. In a duopoly setting, each retailer is associated with a manufacturer who must decide how to allocate property rights over a retail asset. Delegating property rights over the retail asset to an indepedent retailer ('disintegration') transfers incentives from the manufacturer to the retailer and has the benefit of increasing product quality and profits, owing to the retailer's superior efficiency. However, it also forces the manufacturer to forfeit part of the profits. Competition increases the net benefit from delegation and leads to more efficient, vertically disintegrated structures. 相似文献
4.
We investigate the relationship between process and product R&D and compare the incentives for both types of R&D under different modes of market competition (Bertrand versus Cournot). It is shown that: (i) process R&D investments increase with the degree of product differentiation and firms invest more in product R&D when they can do process R&D than when they cannot; (ii) Bertrand firms have a stronger incentive for product R&D whereas Cournot firms invest more in process R&D; and (iii) cooperation in product R&D promotes both types of R&D relative to competition whereas cooperation in both types of R&D discourages R&D relative to cooperation in just product R&D. 相似文献
5.
Julie Subervie 《Economic Modelling》2011,28(5):2239-2246
During the 1980s and 1990s, most developing countries in Sub-Saharan Africa and Latin America implemented structural adjustment reforms, which included the liberalization of export crop markets and the abolition of marketing boards. The emergence of new marketing systems may have altered price transmission mechanisms, especially if collusion behaviors have appeared among domestic stakeholders along the marketing chain. I use threshold cointegration tools to analyze the dynamics of world price transmission to coffee growers in three deregulated markets. The methods I use allow me to test the presence of a threshold in both the cointegrating relationship and its corresponding error correction model. Over the pre-reform period, I detect asymmetric price adjustments that appear favorable to producers - deviations from the long-run equilibrium resulting from largest increases in world prices being eliminated relatively quickly - and disappear in the post-reform period. On the contrary over the post-reform period, the results suggest that largest decreases in world prices may be transmitted relatively quickly to growers. These results can be seen as expressions of a favorable pricing policy over the pre-reform period and an unfavorable influence of new private agents over the post-reform period, meaning that in some cases reforms may have failed to create competitive market structures. 相似文献
6.
7.
Abstract. In this paper we adopt the Panzar–Rosse approach to assess the competitive conditions in the German banking market for the period from 1993 to 2002. We suggest several improvements to the empirical application of the approach and show that frequently used empirical models that apply price rather than revenue functions lead to biased results. Using disaggregated annual data from more than 400 savings banks (Sparkassen) the empirical findings indicate monopolistic competition, the cases of monopoly and perfect competition are strongly rejected. Furthermore, small banks seem to enjoy even more market power than larger institutions. 相似文献
8.
Leonardo J. Basso 《The Canadian journal of economics》2013,46(1):266-281
Abstract In order to analyze the welfare effects of price changes in input markets – following for example a price‐fixing conspiracy – economists have studied the relationship between the surplus measured in the input markets and the surplus in the output markets. The latest results hinge on simplifying assumptions, which are relaxed here by linking the input markets surplus question to another stream of literature, which characterizes functions that oligopolists collectively, yet unintentionally, maximize. It is shown that the area under the input demands is equal to the change in a function for which critical points coincide with the equilibria of the downstream game. A particular case of these functions is the exact potential function. 相似文献
9.
J. M. E. Pennings M. T. G. Meulenberg W. J. M. Heijman 《Environmental and Resource Economics》1996,7(1):79-94
A study was carried out to analyze futures markets for tradable rights after a cash market was initiated. Furthermore, some indication was given on the size of such a futures market to provide insight into its viability. Futures markets can play a role in solving environmental problems, by making the market for pollution rights (i.e. P2O5 rights) and agro rights (milk rights, sugar rights and P2O5 rights) more effective and transparent. Moreover, the market for tradable rights would be able to meet the users' need for hedging. This paper investigated the possibility of introducing a futures markets for tradable P2O5 rights and the commodity manure. Because there is already a cash market for manure, although not well developed yet, and there will be a cash market for P2O5 rights, a futures market is a logical sequel. The futures market can play a role in implementing agricultural policy efficiently and with respect to manure and P2O5 rights can be an economically efficient solution to environmental problems.We acknowledge the financial support of the ATA (Agricultural Futures Market Amsterdam). 相似文献
10.
This paper employs duration analysis to investigate the timing of default in the UK mortgage market. Our analysis is performed on an ex ante basis, in that our explanatory variables are available to mortgage lenders when the loan is first made. We estimate both standard Weibull distributions and generalizations of the Weibull that permit non-monotonic hazard functions. The models fit the data well, suggesting that we have captured the major sources of variation in duration. We find that ‘cash flow’ variables, such as salary and interest rate paid, play the largest role. Surprisingly, loan-to-value ratios are either insignificant or influence default times in a counter-intuitive direction. 相似文献
11.
Francisco J. Martín-Álvarez Victor J. Cano-Fernández José J. Cáceres-Hernández 《Empirical Economics》1999,24(3):403-414
In this paper we present a methodological proposal of the way integration and cointegration analysis can best be used to
test if the level of aggregation of an index is adequate. Using this proposal, we enquire the extent to which a Spanish aggregate
farm price index captures the behavior of its components.
First version received: October 1994/final version received: September 1998 相似文献
12.
Arnaud Manas 《Economics Letters》2011,111(2):180-183
Recently, Gabaix suggested that the volatility of GDP could come from the Pareto distribution of the firm sizes. This paper describes and gives an approximation of the Paretian Ratio Distribution (PRD), which represents the weight of the firm in GDP. 相似文献
13.
The aim of this paper is to provide a connection between concentration and inequality. In particular, we show that the general
entropy inequality indices are, among inequality measures, those consistent with the whole set of Hannah-Kay concentration
indices. We isolate the inequality component underlying concentration measures, obtaining an explicit additive decomposition
of the change in concentration into the change in its two components, i.e., inequality and the number of firms. This relationship
proves to be valid for the whole set of Hannah-Kay concentration indices, and embodies as particular cases some others previously
found in the literature.
We are particularly grateful to Emilio Cerdá for helpful comments on the mathematical formulation of the paper. The second
author also acknowledges support through the European Commission Project #ERBCHRXCT980248. 相似文献
14.
This paper presents a methodological extension of Deaton's (1990) model for estimating price elasticities, by pooling Tunisian
data from several surveys to improve the inter-cluster variability of unit values which is one of the key elements used in
the derivation of these elasticities. Since the surveys cover a relatively long period, possible structural changes in consumption
behaviour occurring over time are accounted for by postulating that certain response coefficients of the basic model vary
from one survey to the other. The own price and cross price elasticities calculated using appropriate estimates of the extended
model are satisfactory both from the economic point of view of their sign and the statistical point of view of their significance
and superior to those obtained using a single survey.
First version received: April 2000/Final version received: June 2001
RID="*"
ID="*" The authors would like to thank Angus Deaton and anonymous referees for useful comments and suggestions. 相似文献
15.
Sectoral systems of environmental innovation: An application to the French automotive industry 总被引:1,自引:0,他引:1
Vanessa Oltra Author Vitae Maïder Saint Jean Author Vitae 《Technological Forecasting and Social Change》2009,76(4):567-583
This article seeks to show how a sectoral system approach may contribute to the analysis of the determinants of environmental innovations. By using Malerba's [F. Malerba: Sectoral systems of innovation and production, Res. Policy Vol. 102, 845-859, (2002)] concept of sectoral system of innovation and production, we develop a sectoral framework based on three building blocks: technological regimes, demand conditions and environmental and innovation policy. Within this framework, the sectoral patterns of environmental innovation result from the interplay between these three blocks. The conceptual framework is applied to the case of the French automotive industry, with a specific focus on the development of low emission vehicles. The analysis shows how technological regime and demand conditions lead to technological inertia, and so to a strong persistence of the dominant design. Finally, environmental and innovative policy are considered in an integrated way, so that we can study how they influence technological regime and demand conditions, and in the meantime how they are conditioned by these two blocks. 相似文献
16.
A simple cointegration methodology is used to compute the equilibrium real exchange rate for the peseta. The stock of foreign
assets and the evolution of sectoral prices are considered to be the fundamentals for the real exchange rate. After testing
for cointegration, we proceed to decompose the series into a permanent and a transitory component, following the method devised
by Gonzalo and Granger. The permanent component of the real exchange rate corresponds to its (time-varying) equilibrium value,
and the deviation of the actual real exchange rate from this equilibrium value gives an estimation of the degree of misalignment
of the real exchange rate. By the end of the sample (1998:1), the peseta is estimated to be undervalued around 6%. 相似文献
17.
Setting long-term goals, specifying short-term objectives, and formulating strategies to achieve the objectives are the key elements in a strategic planning process. In this paper, we have used hierarchical relationships among these key elements to propose a Goal-Objective-Strategy (GOS) tree. We have proposed an algorithm to validate the structural relationship between two hierarchically adjacent elements of the GOS tree by getting their feasibility score rated in a five-point linguistic scale with the help of a Delphi questionnaire survey. The linguistic scores were then converted into fuzzy scores and consensus of Delphi experts' opinions on feasibility of various statements were derived mathematically using fuzzy aggregation algorithm. We have applied the GOS-tree-based approach as a tool for strategic planning for the Indian Shrimp Industry that has displayed a cyclic performance in the past and has shown signs of rejuvenation in recent times. 相似文献
18.
In this paper, we propose a new dynamic analysis model which combines the first-order one-variable grey differential equation model (abbreviated as GM(1,1) model) from grey system theory and Markov chain model from stochastic process theory. We abbreviate the combined GM(1,1)–Markov chain (MC) model as MCGM(1,1) model. This combined model takes advantage of the high predictable power of GM(1,1) model and at the same time take advantage of the prediction power of Markov chain modelling on the discretized states based on the GM(1,1) modelling residual sequence. For prediction accuracy improvements, Taylor approximation is applied to MCGM(1,1) model. We call the improved version as T-MCGM(1,1) model. As an example, we use the statistical data of the number of Chinese international airlines from 1985 to 2003 for a validation of the effectiveness of the T-MCGM(1,1) model. 相似文献