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The Economics Of Vertically Differentiated Markets
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Book Synopsis The Economics of Vertically Differentiated Markets by : Luca Lambertini
Download or read book The Economics of Vertically Differentiated Markets written by Luca Lambertini and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This is a high-quality book on an important and central topic in the theory of industrial organisation. It is a cohesive and extremely well written volume which is destined to become a standard work on the subject.' - Mark Casson, University of Reading, UK This original new book offers a comprehensive and engaging perspective on the theory of vertical differentiation. It enables the reader to grasp the key concepts and effects that product quality has both on firms' behaviour and market structure, and the ways in which this relationship has evolved. With contributions from prominent figures in the field, the book investigates a number of important topics, such as the choice of the optimal product range, profit sharing, the existence of equilibrium in duopoly games, positional effects attached to status goods, international trade, collusion, advertising and the dynamics of capital accumulation for quality improvement and product innovation. Using both static and dynamic approaches, these aspects are assessed in relation to the manifold issues of regulation, competition policy and trade policy. Product differentiation and its influence on consumer behaviour and the performance of firms is a core topic in the existing literature in the fields of industrial organization, international trade and economic growth. This book will be an essential read for researchers, students and professional scholars working in these areas, especially those with an interest in antitrust regulation.
Book Synopsis The Economic Theory of Product Differentiation by : John Beath
Download or read book The Economic Theory of Product Differentiation written by John Beath and published by Cambridge University Press. This book was released on 1991-02-22 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are few industries in modern market economies that do not manufacture differentiated products. This book provides a systematic explanation and analysis of the widespread prevalence of this important category of products. The authors concentrate on models in which product selection is endogenous. In the first four chapters they consider models that try to predict the level of product differentiation that would emerge in situations of market equilibrium. These market equilibria with differentiated products are characterised and then compared with social welfare optima. Particular attention is paid to the distinction between horizontal and vertical differentiation as well as to the related issues of product quality and durability. This book brings together the most important theoretical contributions to these topics in a succinct and coherent manner. One of its major strengths is the way in which it carefully sets out the basic intuition behind the formal results. It will be useful to advanced undergraduate and graduate students taking courses in industrial economics and microeconomic theory.
Book Synopsis Perception and Quality Choice in Vertically Differentiated Markets by : E. J. D. Webb
Download or read book Perception and Quality Choice in Vertically Differentiated Markets written by E. J. D. Webb and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Entry and Innovation in Vertically Differentiated Markets by : Dirk Bergemann
Download or read book Entry and Innovation in Vertically Differentiated Markets written by Dirk Bergemann and published by . This book was released on 1999 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Product Line Competition in Vertically Differentiated Markets by : G. De Fraja
Download or read book Product Line Competition in Vertically Differentiated Markets written by G. De Fraja and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis “Globalization” and Relocation in a Vertically Differentiated Industry by : Mr.Tito Cordella
Download or read book “Globalization” and Relocation in a Vertically Differentiated Industry written by Mr.Tito Cordella and published by International Monetary Fund. This book was released on 1998-04-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a vertical differentiation duopoly framework to analyze firms’ relocation decisions, when the removal of trade barriers or restrictions on capital outflows or inflows (“globalization”) allows them to serve the domestic market through foreign plants in low-wage countries. The relocation of the entire industry yields net welfare costs, but the relocation of one (and only one) firm, may be welfare improving. When the economy is “high-(or low-) quality biased,” the relocation of the firm producing the high- (or low-) quality variant is preferred, on welfare terms, to that of other firms, if the wage differential is large enough.
Book Synopsis Spatial Pricing and Differentiated Markets by : George Norman
Download or read book Spatial Pricing and Differentiated Markets written by George Norman and published by Taylor & Francis. This book was released on 1986 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Competition in Vertically Differentiated Markets with Innovation and Imitation: Trade Policy Versus Free Trade by : Eugen Kováč
Download or read book International Competition in Vertically Differentiated Markets with Innovation and Imitation: Trade Policy Versus Free Trade written by Eugen Kováč and published by . This book was released on 2007 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Buyer Market Power and Vertically Differentiated Retailers by : Shinn-Shyr Wang
Download or read book Buyer Market Power and Vertically Differentiated Retailers written by Shinn-Shyr Wang and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a model of vertical competition where downstream firms (retailers) purchase an upstream input from a monopolist and are able to differentiate from each other in terms of quality. Our primary focus is to study the effects of introducing a large retailer, such as a Wal-Mart Supercenter, that is able to lower wholesale prices (i.e. buyer market power). We obtain two main results. First, the store with no buyer market power responds to the presence of the large retailer by increasing its quality, a finding that is consistent with recent efforts by traditional retailers to enhance shoppers' buying experience (i.e. quality). Second, the presence of a large retailer causes consumer welfare to increase. There are, however, two reasons for the increase in consumer welfare: consumers gain from the large retailer's low price (because the upstream discount is partially passed on to the retail price) as well as from the high quality level offered by the traditional retailer. Contrary to the conventional wisdom most of the consumer welfare gains seem due to the latter. The intuition for this result is that price competition softens substantially as a result of firms' quality differentiation. We also investigate the effects of buyer market power on retail and wholesale prices as well as on producer welfare.
Book Synopsis Vertical Differentiation in Frictional Product Markets by : James Albrecht
Download or read book Vertical Differentiation in Frictional Product Markets written by James Albrecht and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a version of the imperfect competition model of Butters (1977), Varian (1980) and Burdett and Judd (1983) in which sellers make an ex-ante investment in the quality of their variety of the product. Equilibrium exists, is unique and is efficient. In equilibrium, search frictions not only cause sellers to offer different surpluses to buyers but also cause sellers to choose different qualities for their varieties. That is, equilibrium involves endogenous vertical differentiation. As search frictions decline, the market becomes more and more unequal as a smaller and smaller fraction of sellers produces varieties of increasing quality, offers increasing surplus to their customers, and captures an increasing share of the market, while a growing fraction of sellers produces varieties of decreasing quality. Gains from trade and welfare grow. Under some conditions, the growth rate of gains from trade and welfare is constant.
Book Synopsis The Oxford Handbook of the Economics of Food Consumption and Policy by : Jayson L. Lusk
Download or read book The Oxford Handbook of the Economics of Food Consumption and Policy written by Jayson L. Lusk and published by Oxford Handbooks. This book was released on 2013-08-15 with total page 923 pages. Available in PDF, EPUB and Kindle. Book excerpt: First reference on food consumption and policy.
Book Synopsis Essays on Economics of Vertical Product Differentiation by : Taehoon Youn
Download or read book Essays on Economics of Vertical Product Differentiation written by Taehoon Youn and published by . This book was released on 1999 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Copies and Originals in a Horizontally and Vertically Differentiated Market with Habit and Quality Differences by : Edi Grgeta
Download or read book Copies and Originals in a Horizontally and Vertically Differentiated Market with Habit and Quality Differences written by Edi Grgeta and published by . This book was released on 2005 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Control of Markets by : Frederick R. Warren-Boulton
Download or read book Vertical Control of Markets written by Frederick R. Warren-Boulton and published by . This book was released on 1978 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monopoly and Market Coverage in a Vertically Differentiated Market by : Christos Constantatos
Download or read book Monopoly and Market Coverage in a Vertically Differentiated Market written by Christos Constantatos and published by . This book was released on 1989 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economics of Information, Frictions, and Consumer Behavior by : Garrett T. Senney
Download or read book The Economics of Information, Frictions, and Consumer Behavior written by Garrett T. Senney and published by . This book was released on 2016 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third chapter examines consumer search behavior in the market for 3D enabled high definition televisions. Utilizing a newly develop methodology, I examine price dispersion in a vertically differentiated market and separately identify the effects of search friction and product differentiation on price. I estimate that 65.6% of the price variation in this market is explained by search friction with the rest being attributable to vertical differentiation. Furthermore, I find that the search intensity in this market polarized: 69% of consumers only search one store while 17% of consumers search all the stores. My analysis concludes that search frictions are relatively more important than vertical differentiation in explaining the price dispersion in the 3D HDTV market.
Book Synopsis Essays on Vertical Product Differentiation by : Yong-Hwan Noh
Download or read book Essays on Vertical Product Differentiation written by Yong-Hwan Noh and published by . This book was released on 2005 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
