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  • 1
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    Evanston, IL: Northwestern University, Center for the Study of Industrial Organization (CSIO)
    Publication Date: 2020-01-17
    Description: We study a consumer boycott on cottage cheese that was organized in Israel on Facebook in the summer of 2011 following a steep increase in prices after price controls were lifted in 2006. The boycott led to an immediate decline in prices which stayed low more than three years after the boycott. We find that (i) demand at the start of the boycott, at the new low prices, would have been 30% higher but for the boycott, (ii) own price elasticities and especially cross price elasticities increased substantially after the boycott, and (iii) post-boycott prices are substantially below the levels implied by the post-boycott elasticities of demand, suggesting that firms lowered prices due to fears of the boycott spreading to other products, of new price controls, and of possibly class action law suits.
    Keywords: L1 ; D12 ; ddc:330 ; consumer boycott ; social media ; price elasticities ; Konsumentenboykott ; Social Web ; Wirkungsanalyse ; Käse ; Preis ; Preiselastizität ; Schätzung ; Israel
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 2
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    Bonn: Institute for the Study of Labor (IZA)
    Publication Date: 2015-05-22
    Description: We present a dynamic model where the probability of outsourcing production is increasing in the firm's expectation of technological change. As the pace of innovations in production technologies increases, the less time the firm has to amortize the sunk costs associated with purchasing and adopting new technologies to produce in-house. Therefore, purchasing from market suppliers, who can afford to use the latest technology, becomes relatively cheaper. The predictions of the model are tested using a panel dataset on Spanish firms for the time period 1990 through 2002. In order to address potential endogeneity problems, we use an exogenous proxy for technological change, namely the number of patents granted by the U.S. patent office classified by technological class. We map the technological classes to the Spanish industrial sectors in which the patents are used and provide causal evidence of the impact of expected technological change on the likelihood and extent of production outsourcing. No prior study has been able to provide such causal evidence. Our results are robust to the inclusion of detailed characteristics of the firms as well as firm fixed effects.
    Keywords: J21 ; L23 ; L24 ; O33 ; ddc:330 ; Outsourcing ; technological change ; Outsourcing ; Verarbeitendes Gewerbe ; Fertigungstechnik ; Technischer Fortschritt ; Innovation ; Lieferanten-Kunden-Beziehung ; Spanien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 3
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    Amsterdam and Rotterdam: Tinbergen Institute
    Publication Date: 2016-04-21
    Description: This paper examines how the distribution of prices changes with the number of competitors in the market. Using gasoline price data from the Netherlands we find that as competition increases, the distribution of prices spreads out: the low prices go down while the high prices go up, on average. As a result, competition has an asymmetric effect on prices. These findings, which are consistent with a theoretical model where consumers differ in the information they have about prices, imply that consumers' gains from competition depend on their shopping behavior. In our data, all consumers, irrespective of the number of prices they observe, benefit from an increase in the number of gas stations. The magnitude of the welfare gain, however, is greater for those consumers that are aware of more prices. We conclude that an increase in the number of gas stations has a positive but unequal effect on the welfare of consumers in the Netherlands.
    Keywords: J1 ; ddc:330 ; gasoline prices ; imperfect information ; number of firms and price distribution ; Benzin ; Preis ; Unvollkommene Information ; Preiswettbewerb ; Tankstelle ; Niederlande
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 4
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    Bonn: Institute for the Study of Labor (IZA)
    Publication Date: 2015-05-22
    Description: This paper presents a dynamic model that analyzes how firms' expectations with regards to technological change influence the demand for outsourcing. We show that outsourcing becomes more beneficial to the firm when technology is changing rapidly. As the pace of innovations in production technology increases, the firm has less time to amortize the sunk costs associated with purchasing the new technologies. This makes producing in-house with the latest technologies relatively more expensive than outsourcing. The model therefore provides an explanation for the recent increases in outsourcing that have taken place in an environment of increased expectations for technological change. We test the predictions of the model using a panel dataset on Spanish firms for the period 1990 through 2002. The empirical results support the main prediction of the model, namely, that all other things equal, the demand for outsourcing increases with the probability of technological change.
    Keywords: O33 ; ddc:330 ; Technological change ; outsourcing ; Technischer Fortschritt ; Innovation ; Sunk Costs ; Outsourcing ; Verarbeitendes Gewerbe ; Spanien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
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    Berlin: Wissenschaftszentrum Berlin für Sozialforschung (WZB)
    Publication Date: 2018-09-10
    Description: Consumer prices in many markets are persistently dispersed both across retail outlets and over time. While the cross sectional distribution of prices is stable, individual stores change their position in the distribution over time. It is a challenge to model oligopolistic price adjustment to capture these features of consumer markets. In belief based models of price adjustment stores react to expected profits. The expectations are based on the observed vector of market prices in the previous periods. In a reinforcement model of price adjustment, if a strategy has proven fruitful in the past, it is apt to be the strategy relied upon at the present. We collect price data on a homogeneous consumer product in Israel. We estimate the structural parameter of the models. We find that the reinforcement model describes the data better than the belief based models.
    Description: Preise für viele Konsumgüter sind weit verteilt. Dies gilt sowohl für die Verteilung über die Zeit als auch für die Verteilung zwischen den Verkaufsstellen. Während die Querschnittsverteilung der Preise stabil ist, wechseln die einzelnen Verkaufsstellen ihre Position in der Verteilung über die Zeit. Es stellt eine Herausforderung dar, diese Merkmale der Märkte für Konsumgüter zu modellieren. Im Vermutungslernen bilden die Verkaufstätten Erwartungen über das zukünftige Preissetzungsverhalten der Konkurrenz. Die Erwartungen basieren auf dem vorherigen Entscheidungsverhalten der Konkurrenz. Im Bekräftigungslernen werden erfolgreiche Strategien gerne wiederholt. Preisdaten eines homogenen Gutes in Israel werden erhoben. Die strukturellen Parameter der Modelle werden geschätzt. Bekräftigungslernen beschreibt das tatsächliche Entscheidungsverhalten besser als Vermutungslernen.
    Keywords: C72 ; C91 ; D83 ; ddc:330 ; Experiments ; Information ; Learning
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 6
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: After the initial breakthrough in the research phase of R&D, a new product undergoes a process of change, improvement, and adaptation to market conditions. We model the strategic behavior of firms in this development phase. We emphasize that a key dimension to this competition is the innovation that leads to product differentiation and quality improvement. In a duopoly model with a single adoption choice, we derive endogenously the level and diversity of product innovations. We demonstrate the existence of equilibria in which one firm enters early with a low-quality product while the other continues to develop the technology and eventually markets a high-quality good. In such an equilibrium, no monopoly rent is dissipated and the later innovator makes more profits. Incumbent firms may well be the early innovators, contrary to the predictions of the “incumbency inertia” hypothesis.
    Type of Medium: Electronic Resource
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  • 7
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We present a model of industry evolution where the dynamics are driven by a process of endogenous innovations followed by subsequent embodiments in physical capital. Traditionally, the only distinction between R&D and physical investment was one of labeling: the first process accumulates an intangible stock, knowledge, while the second accumulates physical capital. Both stocks affect output in a symmetric fashion. We argue that the story is not that simple, and that there is more to it than differences in the object of accumulation. Our model stresses the causal relationship between past R&D expenditures and current investments in machinery and equipment. This causality pattern, which is supported by the data, also explains the observed higher volatility of physical investment relative to that of R&D expenditures.
    Type of Medium: Electronic Resource
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  • 8
    Publication Date: 2004-05-01
    Print ISSN: 1542-4766
    Electronic ISSN: 1542-4774
    Topics: Economics
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  • 9
    Publication Date: 1992-04-01
    Print ISSN: 0022-3808
    Electronic ISSN: 1537-534X
    Topics: Economics
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  • 10
    Publication Date: 2007-08-01
    Print ISSN: 0022-3808
    Electronic ISSN: 1537-534X
    Topics: Economics
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