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Optimal Experimentation in a Changing Environment
Keller, Godfrey; Rady, Sven - 1998
This paper studies optimal experimentation by a monopolist who faces an unknown demand curve subject to random changes, and who maximises profits over an infinite horizon in continuous time. We show that there are two qualitatively very different regimes, determined by the discount rate and the...
Persistent link: https://www.econbiz.de/10014072775
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Irreversibilities and the Optimal Timing of Environmental Policy Under Knightian Uncertainty
Asano, Takao - 2006
In this paper, we consider a problem in environmental policy design by applying optimal stopping rules. The purpose of this paper is to analyze the optimal timings at which the government should adopt environmental policies to deal with increases in greenhouse gas concentrations and to reduce...
Persistent link: https://www.econbiz.de/10012735092
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Experimentation in Two-Sided Markets
Peitz, Martin - 2015
optimal level. This interplay between learning and surplus extraction is crucial to the market outcome and its dynamics …
Persistent link: https://www.econbiz.de/10013022496
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Experimentation in Two-Sided Markets
Peitz, Martin - 2015
optimal level. This interplay between learning and surplus extraction is crucial to the market outcome and its dynamics …
Persistent link: https://www.econbiz.de/10013037492
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A Natural Experiment on Innovation Without Patents
Torrance, Andrew W. - 2015
Innovation occurs within ... …
Persistent link: https://www.econbiz.de/10013022877
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Who is afraid of pirates? : an experiment on the deterrence of innovation by imitation
Engel, Christoph; Kleine, Marco - 2013
innovators are not protected against others appropriating their ideas, incentives for innovation are suboptimally low. Now in … most industries for most potential users, appropriating a foreign innovation is itself an investment decision fraught with … cost and risk. Nonetheless standard theory predicts too little innovation. Arguably the problem is exacerbated by …
Persistent link: https://www.econbiz.de/10009742356
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Who is Afraid of Pirates? An Experiment on the Deterrence of Innovation by Imitation
Engel, Christoph; Kleine, Marco - 2013
innovators are not protected against others appropriating their ideas, incentives for innovation are suboptimally low. Now in … most industries for most potential users, appropriating a foreign innovation is itself an investment decision fraught with … cost and risk. Nonetheless standard theory predicts too little innovation. Arguably the problem is exacerbated by …
Persistent link: https://www.econbiz.de/10014038994
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When do Large Buyers Pay Less? Experimental Evidence
Ruffle, Bradley J. - 2009
The rise in mega-retailers has contributed to a growing literature on buyer power and large-buyer discounts. According to Rotemberg and Saloner (1986) and Snyder (1998), large buyers' ability to obtain price discounts depends on their relative (rather than absolute) size and the degree of...
Persistent link: https://www.econbiz.de/10013157405
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Vertical Integration of Successive Monopolists : A Classroom Experiment
Badasyan, Narine - 2009
This classroom experiment introduces students to the concept of double marginalization, i.e., the exercise of market power at successive vertical layers in a supply chain. By taking on roles of firms, students determine how the mark-ups are set at each successive production stage. They learn...
Persistent link: https://www.econbiz.de/10012764636
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Trading information goods on a network: an experiment
Hanaki, Nobuyuki; Kayaba, Yutaka; Maekawa, Jun; … - 2021
We experimentally examine the impact of a cycle path on the trading of a copyable information good in networks. A cycle path in a network permits a buyer to become a reseller that can compete against existing sellers by replicating the good. Theory predicts that the price of the information...
Persistent link: https://www.econbiz.de/10012695291