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Market Structure and Innovation: A Dynamic Analysis of the Global Automobile Industry
Hashmi, Aamir Rafique; Van Biesebroeck, Johannes - National Bureau of Economic Research (NBER) - 2010
We study the relationship between market structure and innovation in the global automobile industry from 1982 to 2004 … using the dynamic industry framework of Ericson and Pakes (1995). Firms optimally choose a continuous level of innovation in … parameter -- the cost of innovation. In terms of the relationship between market structure and innovation, we find that: (1) At …
Persistent link: https://www.econbiz.de/10008614658
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Bargaining in Bilateral Oligopoly: An Alternating Offers Representation of the "Nash-in-Nash" Solution
Collard-Wexler, Allan; Gowrisankaran, Gautam; Lee, Robin S. - National Bureau of Economic Research (NBER) - 2014
The concept of a Nash equilibrium in Nash bargains, proposed in Horn and Wolinsky (1988), has become the workhorse bargaining model for predicting and estimating the division of surplus in applied analysis of bilateral oligopoly. This paper proposes a non-cooperative foundation for this...
Persistent link: https://www.econbiz.de/10010969276
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Pass-through of Emissions Costs in Electricity Markets
Fabra, Natalia; Reguant, Mar - National Bureau of Economic Research (NBER) - 2013
We measure the pass-through of emissions costs to electricity prices and explore its determinants. We perform both reduced-form and structural estimations based on optimal bidding in this market. Using rich micro-level data, we estimate the channels affecting pass-through in a flexible manner,...
Persistent link: https://www.econbiz.de/10010950912
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Consumer Price Search and Platform Design in Internet Commerce
Levin, Jonathan; Dinerstein, Michael; Einav, Liran; … - National Bureau of Economic Research (NBER) - 2014
Search frictions can explain why the "law of one price" fails in retail markets and why even firms selling commodity products have pricing power. In online commerce, physical search costs are low, yet price dispersion is common. We use browsing data from eBay to estimate a model of consumer...
Persistent link: https://www.econbiz.de/10010951027
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The Intergenerational Transmission of Automobile Brand Preferences: Empirical Evidence and Implications for Firm Strategy
Anderson, Soren T.; Kellogg, Ryan; Langer, Ashley; … - National Bureau of Economic Research (NBER) - 2013
We document a strong correlation in the brand of automobile chosen by parents and their adult children, using data from the Panel Study of Income Dynamics. This correlation could represent transmission of brand preferences across generations, or it could result from correlation in family...
Persistent link: https://www.econbiz.de/10010951029
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The Bidder Exclusion Effect
Coey, Dominic; Larsen, Bradley; Sweeney, Kane - National Bureau of Economic Research (NBER) - 2014
We introduce a simple and robust approach to answering two key questions in empirical auction analysis: discriminating between models of entry and quantifying the revenue gains from improving auction design. The approach builds on Bulow and Klemperer (1996), connecting their theoretical results...
Persistent link: https://www.econbiz.de/10010951042
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Regulating Consumer Financial Products: Evidence from Credit Cards
Agarwal, Sumit; Chomsisengphet, Souphala; Mahoney, Neale; … - National Bureau of Economic Research (NBER) - 2013
We analyze the effectiveness of consumer financial regulation by considering the 2009 Credit Card Accountability Responsibility and Disclosure (CARD) Act in the United States. Using a difference-in- differences research design and a unique panel data set covering over 160 million credit card...
Persistent link: https://www.econbiz.de/10010951059
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Fixed Costs and the Product Market Treatment of Preference Minorities
Berry, Steven; Waldfogel, Joel; Eizenberg, Alon - National Bureau of Economic Research (NBER) - 2014
It is well documented that, in the presence of substantial fixed costs, markets offer preference majorities more variety than preference minorities. This fact alone, however, does not demonstrate the market outcome is in any way biased against preference minorities. In this paper, we clarify the...
Persistent link: https://www.econbiz.de/10010951148
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Competition in the Audit Market: Policy Implications
Syverson, Chad; Gerakos, Joseph J. - National Bureau of Economic Research (NBER) - 2013
The audit market's unique combination of features-its role in capital market transparency, mandated demand, and concentrated supply-means it receives considerable attention from policymakers. We explore the effects of two market scenarios that have been the focus of policy discussions: a)...
Persistent link: https://www.econbiz.de/10010951156
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Competition for Attention
Shleifer, Andrei; Bordalo, Pedro; Gennaioli, Nicola - National Bureau of Economic Research (NBER) - 2013
-commoditized" quality salient equilibria. When the cost of producing quality changes, innovation can lead to a radical change in markets. In … the context of financial innovation, the model generates the well documented phenomenon of "reaching for yield". …
Persistent link: https://www.econbiz.de/10010951459