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Essays In Industrial Organization And Management Strategy
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Book Synopsis Essays in industrial organization and management strategy by : Paul W. de Bijl
Download or read book Essays in industrial organization and management strategy written by Paul W. de Bijl and published by . This book was released on 1996 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Strategy and Industrial Organization by : Ioannis Ioannou
Download or read book Essays on Strategy and Industrial Organization written by Ioannis Ioannou and published by . This book was released on 2009 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three essays in the fields of Strategy (Essay One) and Industrial Organization (Essays Two and Three). The first essay investigates the impact that different types of spinoff activity - the exit of incumbent firm employees to intra-industry entrepreneurship - have on the survival probability of the incumbent organization. I propose a theoretical model based on corporate coherence, organizational learning and agency theory, for understanding the spinoff impact. I test the model empirically on a dataset from the US automobile industry and I identify specific types of spinoffs that may be beneficial for the parent by enhancing its survival probability. My results set the foundations for a strategic management theory of spinoff activity. The second essay, coauthored with Julie Holland Mortimer, and Richard Mortimer, investigates empirically the impact that retailer capacity choices have on realized sales in the US video rental industry. We provide estimates of this impact under alternative vertical contracts, and we show that, on average, an additional unit of capacity has a positive impact on sales, with titles taken on the contracts with the highest up-front cost typically having the strongest impact on sales from increased capacity. The third essay, written jointly with Christos Cabolis, Sofronis Clerides and Daniel Senft, addresses the issue of international price discrimination in the book industry. We use data from three countries, the US, the UK and Canada, and we find that general audience books are similarly priced internationally, but textbooks are substantially more expensive in the United States; a disparity that is much more pronounced for commercial publishers than for university presses. We argue that higher US textbook prices reflect the unique status of the textbook as a centerpiece of US college instruction.
Book Synopsis Essays in Industrial Organization: Intermediation, Marketing, and Strategic Pricing by : Sebastian Wismer
Download or read book Essays in Industrial Organization: Intermediation, Marketing, and Strategic Pricing written by Sebastian Wismer and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays in Industrial Organization by : Raymond J. Deneckere
Download or read book Three Essays in Industrial Organization written by Raymond J. Deneckere and published by . This book was released on 1983 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in Industrial Organization by : Samuel Isaac Grondahl
Download or read book Essays in Industrial Organization written by Samuel Isaac Grondahl and published by . This book was released on 2020 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis is a collection of three chapters that investigate burgeoning empirical issues in industrial organization. In the first chapter, I study platform fee policy with a specific focus on two-sided online marketplaces. The main contributions of the paper are threefold. First, I study a setting with coordinated price experimentation along the three different fee dimensions that are common to such marketplaces. Second, I describe the empirical impact of incomplete fee salience on equilibrium outcomes. Finally, I quantify the network externalities that must be present in order for observed fees to constitute an equilibrium. In the paper, I begin by developing a tractable model of the platform’s problem that generates testable predictions and yields equilibrium conditions in terms of estimable quantities. Then, using estimates from experimental data obtained from a large online marketplace, I quantify the salience and network effects. To conclude, I consider the counterfactual level and composition of equilibrium platform fees under when these effects are muted or absent. In the second chapter, using data from the same source as in chapter one, I study small sellers competing on the supply side of online marketplaces. As these platforms grow and markets become increasingly disintermediated, an important concern is whether small sellers, who may have limited experience or attention, can individually compete effectively with larger, often professional sellers operating on the same marketplaces. To answer this question, I develop and estimate a structural model that incorporates essential features of the empirical setting, including large and rapidly changing choice sets and buyer heterogeneity. Using the estimated model, I compute optimal pricing policies under various informational and computational restrictions. I find that small sellers adhering to a simple strategy can obtain nearly optimal expected revenue and that this strategy’s information requirements are easily satisfied in the online setting. Additionally, I present suggestive evidence that sellers learn to approximate such a strategy through repeated market interactions. In the third and final chapter, I investigate the industrial impacts of firm control rights, which confer discretion over firm policy and are usually shared between debt and equity holders. Control rights operate along a continuum and are difficult to measure. As a proxy, I consider the discontinuous shift in control from equity holders to creditors due to loan covenant violations, a common form of technical default. This paper contributes to the growing covenants literature in two ways. First, I consider the impact of and response to covenant violations at the industry level, inclusive of firms never in technical default. Second, I empirically document the effects of violations on contemporary product markets. I find that control rights transfers to creditors make firms tough in product markets, consistent with the predictions of a stylized model, and that markups decline at the industry level, though the declines are sharpest for firms directly affected.
Book Synopsis Essays in Industrial Organization by : Bryan Keating
Download or read book Essays in Industrial Organization written by Bryan Keating and published by . This book was released on 2007 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Industrial Organization by : Thomas G. Wollmann
Download or read book Essays on Industrial Organization written by Thomas G. Wollmann and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation comprises three essays on industrial organization. The first essay studies how product-level entry and exit decisions impact business and public policy analysis. It provides an empirical model that incorporates these decisions and then estimates it in the context of the commercial vehicle segment of the US automotive industry. Finally, it demonstrates the importance of accounting for product-level changes using the $85 billion decision to rescue two US automakers in 2009. The second essay studies how two period strategies perform relative to Markov perfect strategies in discrete dynamic games. In particular, it considers a simple entry/exit game and shows that agents sacrifice very little in terms of expected discounted payoffs when they employ these simpler strategies. It also shows this result is robust to varying the underlying market characteristics. The third essay estimates the causal impact of research expenditures on scientific output. Unexpected college football outcomes provide exogenous variation to university funds, and in turn, research expenditures in the subsequent year. Using this variation, it estimates the dollar elasticity of scholarly articles, new patent applications, and the citations that accrue to each.
Book Synopsis Industrial Organization and Management by : S. K. Basu
Download or read book Industrial Organization and Management written by S. K. Basu and published by PHI Learning Pvt. Ltd.. This book was released on 2012 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Industrial Organization and Management by : Hugo Diemer
Download or read book Industrial Organization and Management written by Hugo Diemer and published by . This book was released on 1915 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in Industrial Organization by : Evren Atiker
Download or read book Essays in Industrial Organization written by Evren Atiker and published by . This book was released on 2012 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between acquisitions and investment in research and development can be either directly or inversely related. The three arguments that explain the correlation between the acquisition likelihood and research intensity are managerial myopia, leveraged buyouts and strategic sale of the company motive. In the first chapter of my dissertation, I show that probability of failures and takeovers are negatively associated with firms' research intensity in the biotechnology industry, which supports the managerial myopia argument. The second chapter of my dissertation is based on personality traits as an alternative approach to explain the backward induction failures. In this second essay, we demonstrate that risk taking and assertiveness reduce; self-esteem and intellect traits raise the probability of subgame perfect equilibrium plays in centipede games.
Book Synopsis Essays in Industrial Organization by : Hengheng Lu
Download or read book Essays in Industrial Organization written by Hengheng Lu 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 four chapters in Industrial Organization. Chapter 1 and 3 study optimal business models for digital goods and personalized marketing strategies on online platforms. Chapter 2 and 4 explore agents' heterogeneous performance in the marketplace. In the first chapter, along with the coauthor Jacob LaRiviere, I study optimal business models for video games using data from Xbox. Offering content via bundle-based subscription services has become a prevalent business strategy for media platforms. Despite its popularity, there is limited empirical evidence on whether the subscription model can generate better outcomes for customers and content providers than the traditional a la carte sales model. We answer this question using a novel proprietary dataset from the Xbox video game platform. We develop and estimate a model of demand and supply for individual games and the subscription service Game Pass. We find consumer surplus increases by 16% on average when Game Pass is introduced. The decomposition analysis shows that the bundling and renting features of the subscription service contribute almost equally to the surplus change. We further use the model to study alternative subscription model designs. We find that when all games are offered only via a grand subscription bundle, consumer surplus decreases by 38% from its level under the traditional sales model, with low-usage and slowly-satiated customers being the most affected. However, welfare outcomes can be greatly improved if the platform offers multiple tiers of subscription bundles for different segments of customers. On the supply side, content providers are better off under the subscription-only model if they are compensated with more than 70%--80% of the subscription revenue. In the second chapter, along with coauthors Brad Larsen and Anthony Lee Zhang, I study mediators' heterogeneous performance in the bargaining of used cars. We analyze data on tens of thousands of alternating-offer, business-to-business negotiations in the wholesale used-car market, with each negotiation mediated (over the phone) by a third-party company. The data shows the identity of the employee mediating the negotiations. We find that who intermediates the negotiation matters: high-performing mediators are 22.03 percentage points more likely to close a deal than low performers. We provide a decomposition of mediator impact and a structural model of intermediated incomplete-information bargaining. We find that effective mediators improve bargaining outcomes by helping buyers and sellers come to agreements faster, not by pushing disagreeing parties to persist, and have real effects on efficiency for some negotiations, overcoming some of the inefficiency inherent in incomplete-information settings. In the third chapter, along with coauthors Fan Zhang and Zhijie Lin, I study consumers' variety-seeking preferences and explore its implications on the design of recommendation algorithms using data from a food delivery platform. We first document that a substantial fraction of consumers is variety-seeking: they are willing to pay 19.9% more on average for switching to a different seller at the next purchase. We then study how targeted marketing strategies that account for this preference affect the platform participants. In the counterfactual analysis, we find that personalizing seller ranks based on consumers' order history and their variety-seeking preference increases revenue by 18% and consumer surplus by 14%. Furthermore, we find that the existence of consumers' variety-seeking preferences softens the price competition. Our simulated optimal targeted pricing strategy implies an increase in prices for rival sellers' consumers and a decrease in prices for the sellers' own consumers. In the fourth chapter, along with the coauthor Xinyao Qiu, I explore the gender gap in business performances among freelancers selling home-cooked meals, an area that is traditionally perceived as female-typed and involves complicated business strategy-making. Using high-quality proprietary data from a Chinese P2P online food ordering platform, we document a 12% gender gap in sellers' daily revenues. Factors highlighted in the existing literature such as working hours and experience narrow the gap by 63%. The remaining gap can be explained by male and female freelancers adopting different business strategies in pricing, positioning, and market expansion.
Book Synopsis Essays on Theoretical Industrial Organization by : Sangwoo Choi
Download or read book Essays on Theoretical Industrial Organization written by Sangwoo Choi and published by . This book was released on 2021 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three chapters in theoretical industrial organization with focus on consumer search and strategic firm behavior. More precisely, we study strategic firm behavior in an environment where an imperfectly informed consumer searches for sellers to buy a product from. Each chapter considers a distinct strategy for firms: implementing a product return policy, disclosing information about the product, and choosing product design. In the first chapter, we study how the presence of a monopoly platform affects the return fee in online retail markets. Specifically, we ask whether a monopoly platform has an incentive to set the return fee below the cost of processing returns. A seller on the platform can reduce their cost of returns by outsourcing some of the return process to the platform itself. By absorbing some of the expense of the return process, the platform requires sellers to set the return fee at a level determined by the platform. The platform charges each member seller a lump sum fee which makes them indifferent between joining the platform and selling directly to consumers. The main result compares equilibrium return fees in two different market settings: with a monopoly platform, and without a monopoly platform. Sellers without the platform compete with each other on return fees as well as on product prices, and thus lower their return fees to attract consumers. However, the sellers' incentive to recoup the cost of returns dominates the effect of competition. As a result, the competitive return fee without the platform is higher than the marginal cost of processing returns, which would be the socially optimal return fee. The platform internalizes the competition on return fee between the sellers, and imposes an even higher return fee on the sellers than the competitive one. There are two main takeaways from this result: first, the current trend of ``easy returns" is inconsistent with a monopoly platform maximizing profits in the short-run. Second, by setting a higher return fee, a monopoly platform decreases both consumer and social welfare compared to the market without a monopoly platform. The second chapter examines how a seller's ability to reveal product match information affects equilibrium price and welfare in a duopoly market. Without any product information provided, a consumer must search for and check a product before buying it. Revealing pre-search information allows a seller to segment a market into two parts: consumers who are matched to the revealing seller, and those who are not. We characterize conditions when the equilibrium prices feature an inverted U-shape in search cost for both sellers who reveal and sellers who don't. We also discuss the welfare consequences of three different information disclosure rules: voluntary disclosure, mandatory disclosure, and mandatory concealment. Under a mandatory disclosure rule, social waste from excessive search and mismatch is minimized, but the inefficiency caused by under-provision through an increased equilibrium price is maximized. In contrast, under a mandatory concealment rule, social waste from excessive search and mismatch is maximized. However, a consumer may be better off under a mandatory concealment rule due to a lower equilibrium price. The third chapter studies the effect of ``prominence" on sellers' optimal product design decisions when a consumer must visit each seller in order to learn the cost and matching value of their product, while incurring search costs in the process. Consumers first search for prominent sellers with no recall, and then search for infinitely many “non-prominent” sellers. When the quality distribution of a prominent seller is identical to that of a non-prominent seller, the optimal product design and the optimal price of a seller is unaffected by whether the seller is prominent or not. In other words, all of the sellers share a common quality threshold, above which a seller chooses broad product design, and below which a seller chooses niche product design. We show that the quality threshold of a prominent seller increases when a prominent seller is from a ``better" quality distribution. Improved quality distribution makes a consumer pickier when searching for a prominent seller, which in turn makes the competition more intense in the market. With a higher level competition, only a seller with a higher quality can survive in a market of broad design products
Book Synopsis Essays on Industrial Organization by : Dmitri Byzalov
Download or read book Essays on Industrial Organization written by Dmitri Byzalov and published by . This book was released on 2009 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: I show how these effects can be distinguished from each other empirically. I use individual-level Nielsen data to analyze the effects of tune-in ads for television shows. I find that the consideration set effect of advertising is significant and large in my data, while other effects of advertising are minor, with important implications for firms' advertising strategies. In the third essay (joint with Bharat Anand), we focus on systematic heterogeneity in firms' valuations. We decompose overall variation in firms' excess values into diversification discount, systematic heterogeneity (firm random effects) and temporary shocks. We find that the magnitude of systematic heterogeneity is large in absolute terms, and large relative to the mean diversification discount. This highlights the importance of understanding the fundamental drivers of such systematic differences in performance, and suggests that the value consequences of diversification (which have attracted a lot of attention in the literature) are relatively minor compared to other systematic determinants of firm value.
Book Synopsis Empirical Studies in Industrial Organization by : David B. Audretsch
Download or read book Empirical Studies in Industrial Organization written by David B. Audretsch and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical Studies in Industrial Organization brings together leading scholars who present state-of-the-art research in the spirit of the structure-conduct-performance paradigm embodied in the work of Leonard W. Weiss. The individual chapters are generally empirically or public policy oriented. A number of them introduce new sources of data that, combined with the application of appropriate econometric techniques, enable new breakthroughs and insights on issues hotly debated in the industrial organization literature. For example, five of the chapters are devoted towards uncovering the link between market concentration and pricing behavior. While theoretical models have produced ambiguous predictions concerning the relationship between concentration and price these chapters, which span a number of different markets and situations, provide unequivocal evidence that a high level of market concentration tends to result in a higher level of prices. Three of the chapters explore the impact of market structure on production efficiency, and three other chapters focus on the role of industrial organization on public policy. Contributors include David B. Audretsch, Richard E. Caves, Mark J. Roberts, F.M. Scherer, John J. Siegfried and Hideki Yamawaki.
Book Synopsis Essays in Industrial Organization by : Lorenzo Magnolfi
Download or read book Essays in Industrial Organization written by Lorenzo Magnolfi and published by . This book was released on 2016 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Industrial Organization by : Dmitri Byzalov
Download or read book Essays on Industrial Organization written by Dmitri Byzalov and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: I show how these effects can be distinguished from each other empirically. I use individual-level Nielsen data to analyze the effects of tune-in ads for television shows. I find that the consideration set effect of advertising is significant and large in my data, while other effects of advertising are minor, with important implications for firms' advertising strategies. In the third essay (joint with Bharat Anand), we focus on systematic heterogeneity in firms' valuations. We decompose overall variation in firms' excess values into diversification discount, systematic heterogeneity (firm random effects) and temporary shocks. We find that the magnitude of systematic heterogeneity is large in absolute terms, and large relative to the mean diversification discount. This highlights the importance of understanding the fundamental drivers of such systematic differences in performance, and suggests that the value consequences of diversification (which have attracted a lot of attention in the literature) are relatively minor compared to other systematic determinants of firm value.
Book Synopsis Essays on Industrial Organization by : Yongbae Lee
Download or read book Essays on Industrial Organization written by Yongbae Lee and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: