第三方支付平台双边市场特征的刻画

双边市场理论是今年来产业组织研究的热点问题之一。由于平台具有价格结构非中性、间接网络外部性、和需求互补性等特性,平台企业具有不同于单边市场特征企业的定价、投资和竞争策略,要对双边市场的竞争和规制问题进行正确的分析,并须理解双边市场的性质和运作机制,因此本文从双边市场视角刻画了第三方支付平台的双边市场特征。     

双边市场及其定价策略研究

双边市场理论是近年来产业组织理论研究的热点之一,本文介绍了双边市场的定义以及分类,探讨了双边市场定价策略的影响因素,并结合相关的理论文献,对于现实经济生活中的双边平台的定价问题进行了探讨和研究,最后给出了双边市场定价策略的未来研究方向。     

双边市场定价策略与反垄断规制

双边市场理论是近年来产业组织理论研究的热点之一.本文介绍了双边市场的定义以及分类,探讨双边市场定价策略的影响因素,并结合相关的理论文献,对于现实经济生活中的双边平台的定价问题进行探讨和研究,最后给出双边市场定价策略的未来研究方向和反垄断规制.     

做强做大产权经纪机构适逢其时

产权经纪行业必须在产权交易市场的发展机遇期实现业务转型和功能提升,迈出做强做大实质性的步伐当前,产权交易市场正处于一个重要的发展机遇期,对产权经纪行业而言,也进入了一个必要的业务转型期。产权交易市场的发展带来产权经纪服务的需求,所以,推进产权经纪行业做强做大,打造具有规模优势、专业核心竞争力和自主服务品牌的产权经纪     

《房地产经纪管理办法》解读

《房地产经纪管理办法》是在当前房地产市场调控形势下出台的我国第一个专门规范房地产经纪行为的部门规章,也是我国首部全国性房地产经纪法规。为了配合宣传和学习工作,本文就该部新法规出台的现实意义和主要内容进行了解读。     

“一带一路”沿线国家制度风险与企业海外市场进入模式选择:基于中国装备制造业上市公司的实证分析

文章基于制度理论与跨国公司理论,从政治因素视角出发,以2006～2017年中国装备制造业上市公司对"一带一路"沿线国家开展对外直接投资的199起投资事件为研究样本,运用Logistic模型实证分析了"一带一路"沿线国家制度风险对企业海外市场进入模式选择的影响,并进一步分析了双边政治关系和企业性质在这一影响过程中的调节效应。结果表明:中国企业更倾向于选择合资模式进入制度风险较高的"一带一路"沿线国家;良好的双边政治关系提高了企业选择独资模式进入制度风险较高的沿线国家的可能性;相较于民营企业,国有企业更倾向于选择合资模式进入制度风险较高的沿线国家。研究结论将对中国企业去"一带一路"沿线国家开展对外直接投资时选择更为恰当的海外市场进入模式以及积极应对制度风险、促进国际产能合作等具有一定的启示意义。     

建设部全面清理房产经纪机构

刚出台房地产经纪行业资金监管政策不久，建设部近日又向消费者做出二手房交易的风险提示。业内人士认为，建设部接连对房地产经纪市场敲响警钟，预示着一场清理整顿风暴即将展开。针对当前房地产经纪市场中影响交易安全，损害交易当事人合法权益的问题，建设部指出，房地产经纪机构和经纪人员占压     

平台企业竞争模型中的定价分析

供应链中的平台企业定价涉及对平台两边市场的收费定价,传统的供应链销售商定价研究中较多考虑单边市场,而关于双边市场的平台定价研究则较多是对效用展开分析,国内外文献中极少从供应链成本的角度研究平台定价问题。因此,在两个平台企业进行价格竞争的基础上考虑了网络外部性和差异化服务两个因素,分析这两个因素对最优双边定价、两平台各自的市场需求、以及两平台各自利润的影响。     

双边市场视角下平台互联互通问题的研究

双边市场理论是近年来国内外产业组织理论研究的一个热点领域，双边平台的互联互通是该领域的重点之一。本文从平台间互联接入费的视角研究了对称和非对称平台互联，研究表明平台互联互通能够提高平台的利润和社会福利；非对称平台互联时，平台互联会抵消强势平台的用户规模优势。既然无规制环境中无法形成双边平台自发的互联互通，政策制定者就有必要制定相关政策，来强制双边平台进行互联，同时对于平台互联接入费进行规制。     

根据现有法规，以下几种情况可以退房。

北京市房地局为了加强对本市房地产经纪机构的管理，规范房地产市场行为，维护当事人的合法权益，根据《城市房地产管理法》及建设部《城市房地产中介服务管理规定》制定了《北京市房地产经纪机构管理规定》，要求设立房地产经纪机构，申请人须向北京市房地局提出书面申请，经审查符合下列主要条件的，由市房地局发给资质证书，方可从事房地产经纪活动。     

垄断性卡组织多产品定价策略

银行卡市场具有典型的双边市场特征,卡组织必须制定适当的价格策略方能吸引消费者与商户加入平台。本文运用双边市场理论分别讨论了单卡与双卡情形下垄断性卡组织的定价策略。结果发现,单卡情形下,持卡人借记卡使用费费率低于信用卡费率,而借记卡商户扣率高于信用卡商户扣率,愿意受理借记卡的商户比率要低于受理信用卡的商户比率。在商户市场势力足够小的情况下,最优的双卡商户扣率比单卡条件下的商户扣率低。     

Platform pricing redux

Platforms such as Airbnb, Amazon, Apple iOS, eBay, Microsoft Windows, and Uber are ubiquitous. The two-sided nature of platform markets, however, requires a reconsideration of the conditions for profit maximization and understanding of how platforms operate. Profit-maximization in two-sided markets is characterized as an intuitive extension of the inverse elasticity pricing rule (Lerner index). This is further expressed in terms of the participants' primitives: users' reservation values and the platform's marginal cost. Differences between one- and two-sided markets are demonstrated and discussed.     

交叉网络外部性作用下的科技产业园发展及定价机制再研究

近年来,科技产业园作为特殊经济实体已经成为发展地方经济的重要力量。文章以双边市场理论为分析框架,指出科技产业园为双边市场中的平台方,高科技企业和配套企业为平台双边用户。研究发现,科技产业园区的优惠政策应给予交叉网络外部性高的一方用户,而收费的对象应是交叉网络外部性小的一方用户。通过税费的收取将交叉网络外部性效用内部化,从而实现科技产业园区的可持续发展。     

Who Influences the Asian–Pacific Real Estate Markets: The US,Japan or China?

As rapid economic growth in China has led to significant appreciation of urban real estate market values, this study examines China's influence on Asian–Pacific real estate markets by focusing on their respective market integration with the US, Japan and China during the period January 2005 to December 2017. Market integration is examined by unconditional and time‐varying conditional correlations, nonlinear Granger causality and dynamic connectedness effects. Overall, although the US and Japanese real estate markets have significantly influenced return and volatility in the regional markets, China has emerged as another major regional real estate volatility leader with rising influence over volatility integration, especially during the 2007–2011 crisis period. Financial crises have strengthened China's volatility connectedness effects and market integration with other Asian–Pacific real estate markets. Our results imply that the benefits of regional portfolio diversification may be declining as volatility integration across the Chinese and Asian–Pacific real estate markets becomes stronger. Therefore, diversified global investors should pay greater attention to these real estate markets.     

农产品电子商务平台定价策略研究——基于双边市场理论

电子商务平台的参与是我国农产品流通模式创新的必要要求，它联结了农产品供需双方，能够减少市场信息不对称，降低交易成本和提高流通效率。基于双边市场理论视角，构造垄断和竞争型的农产品电子商务平台，分析在两部制收费情况下，农产品电子商务平台的定价机制及其影响因素。结论显示，平台对某边用户的定价水平受到直接网络外部性、交叉网络外部性、交易费用、平台匹配技术及平台差异化水平的综合影响。根据分析结果，提出两点平台规制方面的建议。     

开放还是封闭：基于利润比较的支付平台转型策略研究

文章通过构建双边定价模型,研究支付平台封闭式运行与开放式运行的利润差异并给出平台转型策略。研究结果表明：在二部定价模式下,开放型支付平台的利润水平处于优势;在会员费模式下,开放型支付平台的利润水平则处于劣势;在交易费模式下,当需求的平均价格效应足够强时,开放型支付平台将表现出明显的利润优势。文章进一步在交易费模式下,给出了两类支付平台利润差距与平均价格效应、单位交易成本、平台内加价能力之间的具体关系,界定了支付平台转型的触发机制、作用机理与路径选择。以此为基础,文章解释了美国运通支付公司“封转开”的动机,结合我国支付产业运行的基本事实部分地解释了中国银行卡支付市场组织形式“封转开”改革的低效率原因。     

The effect of corporate real estate ownership on R&D innovation: credit relief vs. resource replacement in China

Against the background of supply-side structural reform and the real estate financialisation in China, this study investigates the impact of real estate holdings on R&D investment using data of enterprises listed on the Shanghai and Shenzhen stock exchanges. Our empirical results yield five main findings. First, enterprises holding more real estate assets face more serious financial constraints, thus restraining corporate innovation efficiency. Second, when the profit margin gap between entity enterprises and the real estate industry is larger, enterprises are more inclined to transfer industrial capital into the real estate industry, thus reducing R&D investment. Third, when the degree of marketisation is high, intensified market competition, the optimal allocation of factor and product markets, and stronger patent protection will weaken the restraining effect of corporate real estate holdings on R&D investment. Fourth, monopoly enterprises obtain potential profits more than undertaking risks from the real estate industry, they are more willing to hold real estate, thus strengthening the restraining effect of real estate holdings on innovation. Finally, investors' regional preference intensifies the restraining effect of corporate real estate holdings on R&D investment. Our empirical evidence can guide entity enterprises on how to effectively balance short-term (non-productive) and long-term (productive) capital investment.     

Console Price and Software Availability in the Home Video Game Industry

Using hedonic results from a unique data set covering the U.S. home video game industry (1976–2003) the interaction between software provision and console price is analyzed. Increased software provision negatively effects console price. This is contrary to many empirical pricing studies in the network effects literature greater software provision makes hardware more valuable and this should be reflected by increased hardware price. However, the main result from the paper is consistent with the recent theoretical literature on two-sided markets. Also, findings suggest the two-sided pricing strategy employed by hardware firms is dynamic. The percent of price decrease accredited to game provision decreases over time.     

Debt and taxes: Fiscal strain and US city budgets during the Great Depression

Although municipal budgets fared well on average during the Great Depression, many suffered greatly. In newspapers and trade publications, observers blamed distress in real estate markets as well as the rise in tax delinquency and real debt obligations. This paper uses a sample of large US cities to estimate how those factors influenced municipal revenue and expenditures during the Depression. Results show that city finances were stable when facing the housing market distress that plagued many urban areas in the 1930s. The principal elements of fiscal strain were actually rising delinquency, which was associated with diminished revenue and operating expenditures, and growing real debt obligations, which were associated with reduced capital outlays. Thus local budgets were driven more by the behavior of taxpayers and obligations to city creditors than by the downturn in real estate markets. These findings illuminate municipal governments’ responses to the fiscal strain wrought by the Depression.