This paper conducts an empirical analysis on the U.S. VCR market using a hedonic approach. The paper finds that quality-adjusted price indexes decline at 11-12% per year, with a large annual drop of about 18% from 1982-85. Estimation and data analysis reveal interesting aspects of the evolution...

This paper estimates the importance of network externalities in the U.S. VCR market between 1978-86. Estimation reveals the significant role of networks in the format competition between VHS and Beta. The paper also finds that if Sony, a major Beta supplier, had aggressively introduced its VCRs...

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...

The paper examines the evolution of consumption patterns in Organization for Economic Co-operation and Development (OECD) countries from 1985 to 1999. Estimation of demand function parameters uncovered consistent evidence that differences in consumption patterns have recently diminished between...

The national treatment obligation, along with the most favored nation obligation, is an important principle of non-discrimination adopted by the World Trade Organization. It requires that foreign products be treated no less favorably than national products. This paper empirically examines the...

This paper evaluates the impact of advance notice of demand curtailment events on inter-temporal consumption patterns of industrial electricity consumers. The empirical analysis focuses on a demand-response program offered in Japan, which has the same incentive structure as critical peak pricing...

This paper examines the economic consequences of code-sharing agreements (CSA) in the airline market. CSA can be viewed as a vertical contract between airlines, which sometimes co-own the code-shared flights. Our structural model aims to understand how and to what extent CSA distorts market...

The primary goal of policies to promote renewable energy is to correct for the unpriced pollution externalities from burning fossil fuels. It is, however, difficult to assess whether and to what extent these policies enhance industry growth and economic welfare, especially when no comparable...

This study examines the economic consequences of a horizontal merger between Japanese airlines that took place in 2002, with particular emphasis on quality responses to the airline merger. A structural model allows firms to determine not only prices but also flight frequencies. The obtained...

This paper examines 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...