Essays On Vertical Product Differentiation
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Essays On Vertical Product Differentiation
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Author : Yong-Hwan Noh
language : en
Publisher:
Release Date : 2005
Essays On Vertical Product Differentiation written by Yong-Hwan Noh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
This dissertation explores models of heterogeneous product markets that rely on the "vertical product differentiation" formulation. The demand structure applied here is the covered-market configuration under the vertical product differentiation. With this specification, product market equilibria of the monopoly and duopoly market are derived. In particular, parameter restrictions on the degree of relative consumer heterogeneity associated with the covered-market setting are identified and used to interpret analytical results. Based on the specified demand structure, I revisit two industrial organization topics from the perspectives of vertical product differentiation. The first essay analyzes the entry of a new product into a vertically differentiated market where an entrant and an incumbent compete in prices. Many models on strategic entry deterrence deal with "limit quantities" as the established firm's strategic tool to deter or accommodate entry. Here, however, the entry-deterrence strategies of the incumbent firm rely on "limit qualities". With a sequential choice of quality, quality-dependent marginal production cost, and a fixed entry cost, I relate the entry-quality decision and the entry-deterrence strategies to the level of an entry cost and the degree of consumer heterogeneity. In particular, the incumbent influences the quality choice of the entrant by choosing its quality level before the entrant. This allows the incumbent to "limit" the entrant's entry decision and quality levels. Quality-dependent marginal production costs in the model entail the possibility of inferior-quality entry as well as the incumbent's aggressive entry-deterrence strategies by increasing its quality level towards potential entry. Welfare evaluation confirms that social welfare is not necessarily improved when entry is encouraged rather than deterred. The second essay is motivated by some specific economic questions that have arisen with the introduction of 'genetically modified' (GM) agricultural products. A duopoly market-entry model associated with the vertical product differentiation is developed to show how the existence of segregation costs biases the firm's quality choice behavior. Thus, the key factor of the model is the cost of segregation activities that are necessary to distinguish GM products from non-GM products. With an increasing and convex cost of quality, the model predicts that the entrant firm has an increased incentive to enter the market with a low-quality good to reduce production costs if segregation costs are sufficiently high. When consumers are homogeneous enough, however, entry may occur with the high-quality good.
Essays On Economics Of Vertical Product Differentiation
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Author : Taehoon Youn
language : en
Publisher:
Release Date : 1999
Essays On Economics Of Vertical Product Differentiation written by Taehoon Youn and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Three Essays On Vertical Product Differentiation
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Author :
language : en
Publisher:
Release Date : 2004
Three Essays On Vertical Product Differentiation written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
Essays On Quality And Product Differentiation
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Author : David Werner Meyer
language : en
Publisher:
Release Date : 1996
Essays On Quality And Product Differentiation written by David Werner Meyer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with categories.
Three Essays On Oligopoly
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Author : Markus Reisinger
language : en
Publisher:
Release Date : 2004
Three Essays On Oligopoly written by Markus Reisinger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
Two Essays On Product Bundling And One Essay On Vertical Integration
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Author : Kyonghwa Jeong
language : en
Publisher:
Release Date : 2006
Two Essays On Product Bundling And One Essay On Vertical Integration written by Kyonghwa Jeong and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Consumers' preferences categories.
Differentiated Products
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Author : Jakob Arne Robert Jeanrond
language : en
Publisher:
Release Date : 2013
Differentiated Products written by Jakob Arne Robert Jeanrond and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Competition, International categories.
This thesis focuses on how specific aspects of product differentiation affect economic outcomes through their impact on competition between firms. The first paper presents an analysis of firms' incentives to share information about the perceived profitability of different technologies prior to making an investment decision. The model is one of vertical product differentiation in which firms face uncertainty over consumers' preferred product. The main result is that firms reveal information only when they are sufficiently uncertain about which investment strategy to pursue. Information can be revealed in order to facilitate either coordination on a particular technology or anti-coordination on different technologies. In the second paper a seller can choose to sell one or several horizontally differentiated products from competing developers. Developers can charge the seller different wholesale prices for their products where prices are dependent on whether the seller will also carry a competing product. A higher consumer valuation of products raises the potential market share from a single product and thereby increases competition between developers. This implies developer profits can decrease in product quality. The model is compared to a situation in which developers compete for consumers without an intermediary seller. This comparison illustrates how developers sometimes can make higher profits by using a downstream seller since the seller's pricing response acts as a competition softener between developers. In paper three the focus is on product allocation through a single developer of several products who can decide how to allocate them among sellers. This model also features horizontally differentiated products but introduces multidimensional consumer preferences over products and sellers. The developer's product allocation decision is shown to be a key profit determinant for the supply chain. By distributing different products to each seller, the developer can focus inter-seller competition on the product dimension of consumer preferences. Distributing the same products to both sellers allows the developer to force sellers to compete in the dimension of consumers' seller preferences. The relative intensity of consumer preferences over products and sellers thereby determines a profit maximizing allocation for the developer.
Three Essays On Differentiated Product Markets And Competition Policy
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Author : Abigail Britton Ferguson
language : en
Publisher:
Release Date : 2009
Three Essays On Differentiated Product Markets And Competition Policy written by Abigail Britton Ferguson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Home schooling categories.
My dissertation features three essays in industrial organization. The first two investigate aspects of potentially anticompetitive firm behavior in differentiated product markets. Contrary to previous analyses, requirements tying and bundled rebates by a firm with a monopoly in one market that competes in another may increase total surplus when product differentiation in the competitive market is endogenous. This result is stronger for tying than for bundled rebates, and holds for both horizontal and vertical differentiation (essays 1 and 2, respectively). Under requirements tying or bundled rebates, a multiproduct firm (horizontally) differentiates its product less from its rival's product than it would under independent pricing, suggesting a new efficiency consideration for requirements tying: a reduction in transport costs. A similar result prevails under vertical differentiation: when the tying firm controls either quality niche, it reduces the quality of its tied product; however, the rival may invest in the quality of its competing product. Hence, the effect on total surplus is ambiguous when tying or bundled rebates arrangements are permitted. The second essay employs an empirical model typically used to analyze differentiated product markets analyze a different economic environment: parents' decision to home school their children. Home schooling has grown in popularity as an alternative to public or private schools; some estimates place growth at 15 to 40% per year in the U.S.I empirically estimate the demand for home schooling as an alternative to these other modes of education, focusing on potential network effects in household decisions to home-school. I find support for the hypothesis that home schooling 'support groups' mitigate the cost of home schooling relative to the alternatives, but only occur in areas with a critical mass of home-schooling households. The data also suggest that as interest in home schooling grows, the local community's school district spending per child declines, increasing the probability that more parents will take their children out of public schools. Both phenomena suggest the existence of network effects in the market for primary and secondary education.
Essays On Product Differentiation And Market Structure
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Author : Yun Mi Nam
language : en
Publisher:
Release Date : 2011
Essays On Product Differentiation And Market Structure written by Yun Mi Nam and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
Abstract: Competing firms strategically interact when they make decisions about entry/exit, a product type, or technology adoption. This dissertation explores the determinants of firms' strategies and the effect on the resulting market structure. The first chapter analyzes product differentiation and market structure in the Texas lodging industry. I model the lodging properties' entry, exit and quality decisions as a dynamic oligopoly game and apply the estimation strategy similar to the Nested Pseudo Likelihood (NPL) Algorithm. Using annual data for hotels and motels in Texas in the 1990's, I find that there is a strong incentive for the lodging properties to differentiate themselves by choosing different quality-levels from competitors. Also, I show that high transition costs relative to the exit value deter low quality-level properties from changing their quality-level and induce more to exit. The second chapter investigates the relationship between risk and vertical integration. I modify an ordered Probit model to examine how economic factors, particularly risks, affect the choice of organizational form. I estimate the model using cross-sectional data on the company-owned, franchised and independent properties in the Texas lodging industry. The estimation result shows that overall market risk strengthens the independent properties and weakens the other two forms (franchised and company-owned properties). It also indicates that the form-specific risk is significantly associated with the choice of the organizational form. The third chapter estimates the size of hospital markets, which plays a key role in the antitrust enforcement of hospital mergers. I determine the relevant market size by finding the distance between hospitals at which the choices of technology adoption do not interact, using data on the adoption of SPECT diagnostic imaging technologies. I show that the Elzinga/Hogarty approach taken in the antitrust cases overestimates the relevant market size of hospitals.
Essays On Product Differentiation And Market Structure
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Author : Andreas Irmen
language : en
Publisher:
Release Date : 1996
Essays On Product Differentiation And Market Structure written by Andreas Irmen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with categories.