Essays on Market Structure and Firm Strategies

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ISBN 13 :
Total Pages : 170 pages
Book Rating : 4.:/5 (69 download)

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Book Synopsis Essays on Market Structure and Firm Strategies by : Jessica Calfee Stahl

Download or read book Essays on Market Structure and Firm Strategies written by Jessica Calfee Stahl and published by . This book was released on 2009 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: While mergers are highly visible and changes in market structure can have large effects on social welfare, very little empirical work has studied the determinants of merger activity. My dissertation analyzes merger decisions made by firms so as to understand incentives to merge. Chapter 1 uses patent citation data to determine whether firms are more or less actively engaged in sequential innovation after they merge. The ability to capture information spillovers may enhance merged firms' incentives to build upon one another's innovations; yet merging may reduce the firms' incentives to leap-frog one another. Looking at mergers between public companies from 1980 to 2003, I find that in nearly all industries, cross-citations between two firms increase before they merge and then fall after they merge. This suggests that the firms were engaged in an innovation race that was slowed by the merger. Firms may seek out these mergers partly to reduce innovation competition. Chapter 2 exploits an exogenous change in regulation that led to significant consolidation in the broadcast television industry. The vast majority of consolidation was across local markets, so it is not clear what drove consolidation. This chapter uses a panel dataset on ownership and revenue of broadcast stations in order to estimate the revenue advantages of consolidation. I find that revenue advantages come through access to a wider audience, most likely because a firm can offer advertisers more viewers per contract. Chapter 3 uses results from the second chapter, and estimates a dynamic oligopoly model in order to identify the cost advantages of consolidation in the television industry. I infer costs from patterns in ownership changes that are unexplained by revenue estimation. I model firms' decisions as a dynamic game, and estimate the game using a two-step method recently developed by Bajari, Benkard and Levin (2007). This is the first paper to estimate a model of merger activity in a dynamic, strategic framework. I find that owning more stations enables firms to reduce per-station operating costs. A firm's ability to do this is affected by its stations' network affiliations, the location of its stations and the demographic heterogeneity of its viewers.

Essays on Competitive Analysis

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ISBN 13 :
Total Pages : 133 pages
Book Rating : 4.:/5 (244 download)

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Book Synopsis Essays on Competitive Analysis by : Eric Jahn

Download or read book Essays on Competitive Analysis written by Eric Jahn and published by . This book was released on 2007 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Essays on Firm Strategies and Market Outcomes

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ISBN 13 :
Total Pages : 113 pages
Book Rating : 4.:/5 (931 download)

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Book Synopsis Essays on Firm Strategies and Market Outcomes by : Brady Thomas Vaughan

Download or read book Essays on Firm Strategies and Market Outcomes written by Brady Thomas Vaughan and published by . This book was released on 2015 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the first chapter of my dissertation, Aleksandr Yankelevich and I examine the effects of price matching guarantees on duopoly markets. We find that a commitment to price-match raises prices by altering consumer search behavior in three ways. First, price-matching diminishes firms' incentives to lower prices to attract consumers who have no search costs. Second, for consumers with positive search costs, price-matching lowers the marginal benefit of search, inducing them to accept higher prices. Finally, price-matching can lead to asymmetric equilibria where one firm runs fewer sales and both firms tend to offer smaller discounts than in a symmetric equilibrium. These price increases grow with the proportion of consumers who invoke price-matching guarantees and also in the level of equilibrium asymmetry. The second chapter studies the effect of the complexity of consumers' preferences over a product on that product's market structure. I relate complexity of preferences to the number of dimensions of a Lancasterian characteristic space. Using a novel higher dimensional Hotelling model, I find that a fixed number of firms are likely to be better off competing over products with more complex preferences. Although firms face more intense competition in higher dimensional markets, the greater product differentiation afforded to them allows them to charge higher prices and earn higher profits. This result provides a clear theoretical foundation for the observation that goods associated with more complex preferences typically display a greater variety of products sold. Additionally, I show that the behavior of more than two firms competing in more than one dimension differs wildly from that of firms typically studied in models of spatial competition. The final chapter will examine firms' motives for implementing grandfather clauses that allow certain consumers to continue to access a service at a favorable, but no longer available price. Grandfather clauses permit firms to price discriminate between early adopters and new consumers in exchange for forfeiting the right to optimally set prices for early adopters. They may be used to thwart competition following a structural change, to respond to cost shocks, or to retain customers who consume another good from a multiproduct firm. We analyze under what conditions firms might choose to offer grandfather clauses and what effects they have on welfare.

Essays on Product Differentiation and Market Structure

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ISBN 13 :
Total Pages : 202 pages
Book Rating : 4.:/5 (728 download)

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Book Synopsis Essays on Product Differentiation and Market Structure by : Yun Mi Nam

Download or read book Essays on Product Differentiation and Market Structure written by Yun Mi Nam and published by . This book was released on 2011 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Three Essays in Competitive Strategy

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (125 download)

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Book Synopsis Three Essays in Competitive Strategy by : Johannes Konstantin Schmalz

Download or read book Three Essays in Competitive Strategy written by Johannes Konstantin Schmalz and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Market Structure, Organization, and Performance

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ISBN 13 :
Total Pages : 280 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Market Structure, Organization, and Performance by : Almarin Phillips

Download or read book Market Structure, Organization, and Performance written by Almarin Phillips and published by . This book was released on 1962 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: No detailed description available for "Market Structure, Organization, and Performance".

Essays on Consumer Purchase Behavior and Competitive Firm Strategies

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ISBN 13 :
Total Pages : 65 pages
Book Rating : 4.:/5 (957 download)

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Book Synopsis Essays on Consumer Purchase Behavior and Competitive Firm Strategies by : Andy Wei-Rong Chen

Download or read book Essays on Consumer Purchase Behavior and Competitive Firm Strategies written by Andy Wei-Rong Chen and published by . This book was released on 2016 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: The two essays explore two topics in marketing - consumer purchase behavior and competitive firm strategies. The first essay examines consumer stockpiling behavior in the retail gasoline market and aims to shed light on what factors affect consumer stockpiling. Past research on consumer stockpiling behavior such as Hendel and Nevo (2006) finds evidence of inter-temporal substitution by consumers that implies stockpiling behavior. However, they do not observe actual inventory or consumption and have to rely on simplifying assumptions about these quantities. I collect a novel data set of gasoline purchase history of consumers with actual inventory and consumption to test several hypotheses that relate consumer stockpiling to price, duration between purchases, and consumption. First, I find that consumers holding more inventory are more price sensitive. Higher inventory increases the impact of price on purchase decisions and those with higher inventory can afford to do more price search before making a purchase. I also find that all else equal, consumers will reduce consumption following a purchase made during high prices; that consumers with lower inventory have a higher probability of purchasing; and that duration from previous purchase is shorter for purchases made during low prices and longer during high prices. The second essay examines competition in a dynamic setting between Wal-Mart and Target in the context of location choices and expansion strategies. Studying this topic sheds light on how an industry evolves and how the market structure is shaped by decisions such as when to enter and exit and where to locate new stores as well as the driving force behind different expansion strategies. One of the early papers by Bresnahan and Reiss (1991) study entry of retail and professional services into isolated markets in a one-shot game. In their model, firms are allowed to enter once and open one store. Collard-Wexler (2014) estimates a model of investment and entry in the ready-mix concrete industry. Again, each firm is assumed to own a single plant in the model. In my paper, I build a structural model in which firms can open multiple stores over a period of time. This setting is closer to reality as competition between firms lasts over many periods with firms making regular entry decisions and often opening multiple stores in the same market. I estimate how entry decisions are affected by competitor's presence and market characteristics and learn about the evolution of market structure and expansion strategies of the firms. The firms are forward-looking and engage in Markov perfect equilibrium (MPE) strategies. The results show that firm profits are affected asymmetrically by the competitor's presence. First, Wal-Mart is the dominant firm with higher profits regardless of Target's presence. On the other hand, Target's profits depend a lot on Wal-Mart's presence. It must have more stores than Wal-Mart (called store advantage) to profit. I also find asymmetry in the expansion strategies of the two firms. Wal-Mart tends to explore new and smaller markets by being the first and often the only firm to enter, while Target tends to focus on major markets with high population and GDP and strives to maintain store advantage over Wal-Mart by matching or outdoing Wal-Mart's decision to open new stores.

Essays on Strategic Behavior of Firms with Market Power

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (138 download)

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Book Synopsis Essays on Strategic Behavior of Firms with Market Power by : Artak Meloyan

Download or read book Essays on Strategic Behavior of Firms with Market Power written by Artak Meloyan and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of two chapters that try to examine the structural behaviour of firms with market power in two contexts: implicit collusion and merger. In the first chapter, we examine the implicit collusion in the U.S. corn seed market where several firms dominate the market and try to grasp consumer welfare. In these types of markets, firms can implicitly divide the market among each other and in each of these submarkets gain market power by offering different products than their competitors. Thus, the implicit collusion can potentially increase their market power. We show the difference in SPNE of implicit collusion between duopoly and oligopoly and examine whether or not there is evidence of implicit collusion in setting prices or product lines in the case of oligopoly. Results indicate that there is significant collusion in not only price setting stage, but also in product line choosing stage. The second chapter evaluates the impact of mergers on market prices through two different channels: efficiency gain vs. market concentration. We develop a theoretical model for firm's merger behavior, derive the equilibrium market prices both before and after the merger and decompose the total price change into two components: those due to the efficiency gain and those due to the market concentration. Then we apply the model to the case of a merger in mayonnaise market in 2015 to conduct empirical analyses using price-quantity data in the U.S. mayo market from 2013 to 2017. Results show a negative relationship between efficiency gain and market prices and positive relationship between market concentration and market prices. However, the efficiency gain effect outweighs the market concentration effect in the mayonnaise industry which leads to price decrease as a result of the merger.

Essays on Multi-product Firms' Strategic Behavior Under Demand Uncertainty

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (136 download)

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Book Synopsis Essays on Multi-product Firms' Strategic Behavior Under Demand Uncertainty by : Jie Feng (Ph.D.)

Download or read book Essays on Multi-product Firms' Strategic Behavior Under Demand Uncertainty written by Jie Feng (Ph.D.) and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: My dissertation makes empirical and theoretical contributions to exploring firms' optimal strategy when demand uncertainty exists in correlated markets and information signals during the decision process. With the application to the U.S. soybean seed market, I illustrate methods to evaluate the leveraged market power within the soybean seed market and correlated herbicide market under the technology improvement and climate change. The first chapter studies firms' pricing strategies when demand changes in the correlated market. The demand change is patent expiration in my situation. Firms holding multiple patents may face similar antitrust challenges as multi-product monopolists do. I first build a theoretical model to elaborate on the impact of demand change under different scenarios where patents are valid, expired, or partially expired. Then I generate the theoretical hypothesis to empirically test the firm's pricing strategy before and after the patent expiration using the U.S. soybean market data. The empirical analysis found evidence consistent with the theoretical predictions. The price of the patented soybean seeds increased after the patent on a complementary pesticide product expired. On the contrary, the price of the patented seed decreased when the patent of a substitute seed technology expired. In both cases, the change in seed price is greater when the seed demand is more inelastic. I also found evidence that firms' vertical structure matters and evidence of geographical heterogeneity. The second chapter takes the angle of individual farmers' decision process and examines how their agronomic practices would be affected by technology advancement, climate change, and their interactions. In my case, the specific agronomic decision is economic optimal soybean seed density. Agronomic research finds that economically optimal seeding rates have likely increased for many U.S. farmers because of genetic improvements, including new genetically engineered traits. At the same time, the soybean seeds experienced a decreasing trend in seeding rates with the introduction of herbicide-tolerant traits. To understand its underlying mechanism, I first derive a per acre demand model for soybean seeds to reveal the underlying structural relationship of the seeding rates with the relative seed price, the technology, and other factors. Then I classify all the factors into the market factors, such as the seeds' market prices, technology factors, including the GE HT traits, information factors, and efficiency factors. I empirically test their effects on the expected seeding density using the U.S. soybean data from 1996 to 2017. I also examine the heterogeneity of the impacts across different regions, between conventional and HT seed adopters and heterogeneous farmers on different seeding density quantiles. My third chapter describes firms' optimal strategy under different vertical structures where the complementary market has demand uncertainty. When innovation in essential products ties with the demand of its complementary market, the complementary market variation and information induced consumers' beliefs could determine consumers' demand for essential products. This chapter proposes a theoretical model to analyze firms' optimal pricing strategies when complementary demand uncertainty and imperfect substitutes both exist. The theoretical model suggests that the new cost-saving product's equilibrium price and market structure depend on the expected loss value of the technology, the influence of the complementary market, the cost-saving ratio between the old and the new technology, and the market structure of the essential product. I also calibrate the model using the U.S. soybean data and recover the estimated value of the expected cost and the cost-saving ratio of the HT soybean farmers from 1996 to 2017 and illustrate the possible data to obtain for further empirical exploration.

Three Essays on the Strategic Behavior of Partially-regulated Firms

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ISBN 13 :
Total Pages : 278 pages
Book Rating : 4.3/5 (129 download)

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Book Synopsis Three Essays on the Strategic Behavior of Partially-regulated Firms by : Leslie Margaret Schenk

Download or read book Three Essays on the Strategic Behavior of Partially-regulated Firms written by Leslie Margaret Schenk and published by . This book was released on 1995 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Essays on Marketing Strategy

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ISBN 13 : 9781267819147
Total Pages : 125 pages
Book Rating : 4.8/5 (191 download)

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Book Synopsis Essays on Marketing Strategy by : Yeong Seon Kang

Download or read book Essays on Marketing Strategy written by Yeong Seon Kang and published by . This book was released on 2012 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this dissertation is to understand optimal firm strategies (distribution channel structure, product and pricing strategies) using the Hotelling model in a duopoly competition. In Essay 1, I study how distribution channel structure affects quality decisions in a duopoly competition. I consider a set-up in which two retailers with different distribution channel structures compete on product quality and retail price. Channel decentralization can lead to more quality differentiation, which can soften the price competition. It turns out that two asymmetric strategy equilibria of an integrated and a decentralized channel structure exist. A retailer can adopt the integrated channel structure in which the retailer has the power to determine the quality of its product or can adopt the decentralized channel structure in which the supplier determines the product quality. I find that the asymmetric pairs of a decentralized channel by one retailer and an integrated channel by the other retailer can be a Nash equilibrium in a simultaneous-channel-choice model. In a sequential-channel-choice model, I find that the leader-retailer chooses the integrated channel and the follower-retailer chooses the decentralized channel and the leader can get a first-mover advantage. From a supplier's perspective, who can decide the distribution channel structure and level of quality, symmetric pairs of distribution channel structures are the equilibrium. When the market is covered and the competition between the channels exists, both suppliers choose the decentralized channel in equilibrium. When the market is not covered and each channel plays as a local monopoly, both suppliers choose the integrated channel in equilibrium. When I extend the model by adding two-dimensional consumer heterogeneity, the results are consistent with the basic model under certain conditions of the demand specification. In Essay 2, I analyze a duopoly competition when two firms face input cost increases. The objective of this study is to determine the firms' optimal strategy between a price increase and downsizing under conditions of a spatially differentiated market and consumers' diminishing utility on the product size. I analyze both symmetric and asymmetric cases of firms' original cost conditions. I find that when the two firms have the symmetric cost structures (i.e., the two firms have the same marginal cost), both firms choose the symmetric strategy in equilibrium and it depends on the amount of the cost increase. When the cost increase is sufficiently large, the two firms choose downsizing is a unique Nash equilibrium. When the input cost increase is sufficiently small, a price increase is a dominant strategy because both firms can pass the entire amount of the cost increase to the end consumers via the price increase and they can maintain their profits. When the input cost increase is intermediate, there are two Nash equilibria: (a) both firms choose a price increase or (b) both firms choose downsizing. I find that when the two firms have the asymmetric cost structures, the two firms might choose asymmetric pairs of strategies in equilibrium under certain conditions. The equilibrium outcomes depend on the cost differences between two firms and the amount of the cost increase. When the cost differences between the two firms are sufficiently small and the cost increase is sufficiently small, a price increase is the dominant strategy for both firms. When the cost differences between the two firms are sufficiently large and the cost increase is sufficiently small, the cost leader chooses a price increase, and the cost-disadvantaged firm chooses downsizing in equilibrium. When the cost increase is sufficiently large, both firms are reducing the product size in equilibrium. I extend model including an interaction effect between a consumer's loyalty and diminishing utility on the product size. Unexpectedly, downsizing might not be more favorable when a consumer's loyalty is weighted on the consumer's utility from the product size.

Essays on the Microeconomics of Financial Market Structure and Performance

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ISBN 13 :
Total Pages : 214 pages
Book Rating : 4.:/5 (785 download)

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Book Synopsis Essays on the Microeconomics of Financial Market Structure and Performance by : Prasad Krishnamurthy

Download or read book Essays on the Microeconomics of Financial Market Structure and Performance written by Prasad Krishnamurthy and published by . This book was released on 2011 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does financial market structure affect business growth and consumer welfare? Microeconomic theory presumes that market outcomes are a result of the equilibrium interaction of agents with differing objectives. This dissertation develops and tests microeconomic models of the credit and deposit markets . Parts 1 and 2 emphasize the importance of asymmetric information and strategic interaction, respectively, in determining financial market structure and performance. Part 1 provides new evidence on the relationship between financial market structure and firm growth. I develop an equilibrium model of firms who can access debt capital and capital from banks that monitor their borrowers. In this model, (1) shifts in the supply of bank credit have the largest effect on firms who have just enough capital to acquire finance, and (2) financial integration dampens the quantity effects of shocks to credit supply, but exacerbates the quantity effects of shocks to credit demand. I test these hypotheses by exploiting the history of bank-branching deregulation in the United States. I use the differential timing of state deregulation to trace the causal channel that runs from financial integration to firm growth. I find that for mid-sized establishments, financial integration lowered the association between local credit supply and business growth. My findings suggest that the excess volatility in business growth in unintegrated markets may entail significant allocative inefficiencies. Part 2 investigates the contribution of deposit market competition and consumer preferences to banking market structure and pricing. I develop a general model of spatial competition where consumers' higher willingness to pay for firms with more locations generates an externality in firms' location decisions. I characterize the equilibrium of this model and provide novel analytical results for prices, markups and limiting market shares. I then consider the application of this model to the market for bank deposits. The model generates predictions on (1) the density of branches, (2) the pattern of within-market and across-market concentration, (3) the relationship between concentration and market size, (4) the relationship between branching networks and deposit prices, and (5) the dispersion of deposit prices. I utilize the history of bank branch deregulation to test the predictions of this model by comparing free branching to unit branching--one bank/one branch--states. The empirical tests are broadly consistent with the hypothesis that strategic competition in branch networks plays a role in determining market structure.

Essays on Market Structure

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ISBN 13 :
Total Pages : 87 pages
Book Rating : 4.:/5 (874 download)

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Book Synopsis Essays on Market Structure by : Feng Ruan

Download or read book Essays on Market Structure written by Feng Ruan and published by . This book was released on 2012 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt:

R & D, Innovation and Industrial Structure

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Publisher : Springer Science & Business Media
ISBN 13 : 3642959253
Total Pages : 167 pages
Book Rating : 4.6/5 (429 download)

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Book Synopsis R & D, Innovation and Industrial Structure by : Boris Maurer

Download or read book R & D, Innovation and Industrial Structure written by Boris Maurer and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: The common topic of this collection of studies is the interaction between innova tive activity of firms and industrial structure. I call this interaction technological competition. Firms invest into R&D in order to open up new or enlarge existing profit opportuni ties for the future. A successful R&D-project leads to an innovation. An innovation introduced into the market changes the competitive structure of the industry. At the same time the structure of the industry shapes the incentives to invest into R&D. What matters for these incentives is not so much the existing structure but the expected dynamic evolution of that industry which is again dependent on the innovative choice of firms. Amongst other things, the dynamic of industry evolution is therefore rooted in the dynamics of ongoing innovative activity. Of course, this is not always the whole sto ry. There are (more or less) exogenous factors, like knowledge spillovers from other sectors of the economy, technological breakthroughs in basic research that directly influence the state of competition in an industry by providing additional profit op portunities, etc. The same is true for exogenous changes in upstream markets or demand conditions. My main interest here is not primarily to understand these exogenous forces, but to develop a theory of how the process of firms' innovative activity is shaped by competition and in turn shapes future competition between firms in an industry.

Essays on Firm Strategy and Performance in Emerging Economies

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ISBN 13 :
Total Pages : 372 pages
Book Rating : 4.:/5 (747 download)

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Book Synopsis Essays on Firm Strategy and Performance in Emerging Economies by : Markus D. Taussig

Download or read book Essays on Firm Strategy and Performance in Emerging Economies written by Markus D. Taussig and published by . This book was released on 2011 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The papers that make up this dissertation aim to marry two extensive academic literatures: i.) the strategy literature, a key tenet of which is that market inefficiencies can be taken advantage of by firms with the right resources; and ii.) the law and finance literature, which shows that strong, predictable government institutions encourage competition and efficient allocation of scarce resources in emerging economies."--Leaf iii.

Essays on the Interactions of Consumer Behavior and Firm Strategy in Multi-channel Environments

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)

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Book Synopsis Essays on the Interactions of Consumer Behavior and Firm Strategy in Multi-channel Environments by : Bin Li

Download or read book Essays on the Interactions of Consumer Behavior and Firm Strategy in Multi-channel Environments written by Bin Li and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: With the increasing popularity of the online channel, both consumers and firms are engaging in more and more multi-channel activities. On the one hand, consumers can integrate information from searches on both online and offline channels, and then decide on the best channel to buy from. On the other hand, firms need to consider consumer behavior in different channels in their strategy design. As a result, cross-channel interactions between consumer behavior and firm strategy can be within the same channel or across different channels. While the within-channel interaction has been studied extensively in the previous literature, there is much less research on the cross-channel interaction. In my dissertation, I add to the understanding of consumer behavior and firm strategy in the multi-channel environment by empirically analyzing their cross-channel interactions. This dissertation consists of three separate but related essays. The first answers the question: How does consumer behavior affect optimal product portfolio strategies in online versus offline channels? I develop an empirical model to simultaneously identify the cannibalization effect (within a brand) and the competition effect (between different brands) in different retail channels. I further examine how these effects are affected by consumer preferences. The second essay answers the question: How does a firm’s offline strategy affect consumer online behavior? I use a natural experiment to examine how the awareness and convenience effects from opening new retail stores affect the online search. The final essay answers the question: How does online banking affect entry/exit of offline bank branches? I develop and estimate a dynamic entry/exit model examining the relationship between technological advances and market structure evolution. My counterfactual analysis shows that the asymmetric reduction in operating costs is the most significant factor driving recent changes in the U.S. banking industry, followed by increased entry costs and increased deposits for large banks due to greater online presence. My findings provide important implications for firms engaging in multi-channel activities.

Firm Strategy in Technology Markets

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ISBN 13 :
Total Pages : 240 pages
Book Rating : 4.:/5 (832 download)

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Book Synopsis Firm Strategy in Technology Markets by : Kameshwari Shankar

Download or read book Firm Strategy in Technology Markets written by Kameshwari Shankar and published by . This book was released on 2006 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: