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The determinants of product lines
In: The Rand journal of economics, Band 49, Heft 3, S. 541-573
ISSN: 1756-2171
AbstractWe study product line choice allowing for cost asymmetries but ruling out strategic motivations such as a desire to soften competition. We identify two forces that interact with asymmetric competition to shape equilibrium product lines. Possible outcomes range from head‐to‐head competition to complete separation of product lines and include the intermediate case of partial separation. In an international trade context, we predict which qualities a disadvantaged foreign producer will specialize in. If cost factors drive quality‐based discrimination then foreign firms sell only lower qualities. However, if demand factors are the main drivers then foreign firms sell only high qualities.
Multiproduct Cournot oligopoly
In: The Rand journal of economics, Band 37, Heft 3, S. 583-601
ISSN: 1756-2171
On the Simple Economics of Advertising, Marketing, and Product Design
In: American economic review, Band 96, Heft 3, S. 756-784
ISSN: 1944-7981
We propose a framework for analyzing transformations of demand. Such transformations frequently stem from changes in the dispersion of consumers' valuations, which lead to rotations of the demand curve. In many settings, profits are a U-shaped function of dispersion. High dispersion is complemented by niche production, and low dispersion is complemented by mass-market supply. We investigate numerous applications, including product design; advertising, marketing and sales advice; and the construction of quality-differentiated product lines. We also suggest a new taxonomy of advertising, distinguishing between hype, which shifts demand, and real information, which rotates demand.
Multiproduct Quality Competition:Fighting Brands and Product Line Pruning
In: American economic review, Band 93, Heft 3, S. 748-774
ISSN: 1944-7981
Firms selling multiple quality-differentiated products frequently alter their product lines when a competitor enters the market. We present a model of multiproduct monopoly and duopoly using a general "upgrades" approach that yields a powerful analytical framework. We provide an explanation for the common strategies of using "fighting brands" and of product line "pruning." The optimal strategy depends on whether entry prompts an incumbent to expand or contract its total output. We also present a general condition that guarantees that a monopolist will sell but a single product. Our model addresses other issues, including intertemporal price discrimination and "damaged goods."
Acquihiring for Monopsony Power
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Working paper
Platform Design When Sellers Use Pricing Algorithms
In: CEPR Discussion Paper No. DP15504
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Working paper
Projecting Global Oil Palm Expansion Under Zero-Deforestation Commitments: Direct and Indirect Land Use Change Impacts
In: ISCIENCE-D-22-03044
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Inclusive Wealth as a Metric of Sustainable Development
In: Annual Review of Environment and Resources, Band 40, S. 445-466
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Managing forest ecosystem services for hydropower production
In: Environmental science & policy, Band 61, S. 221-229
ISSN: 1462-9011
Autonomous algorithmic collusion: economic research and policy implications
In: Oxford review of economic policy, Band 37, Heft 3, S. 459-478
ISSN: 1460-2121
Abstract
Markets are being populated with new generations of pricing algorithms, powered with artificial intelligence (AI), that have the ability to autonomously learn to operate. This ability can be both a source of efficiency and cause of concern for the risk that algorithms autonomously and tacitly learn to collude. In this paper we explore recent developments in the economic literature and discuss implications for policy.
The Economic Case for Nature : A Global Earth-Economy Model to Assess Development Policy Pathways
The Economic Case for Nature is part of a series of papers by the World Bank that lays out the economic rationale for investing in nature and recognizes how economies rely on nature for services that are largely underpriced. This report presents a first-of-its-kind global integrated ecosystem-economy modelling exercise to assess economic policy responses to the global biodiversity crisis. Modeling the interaction between nature's services and the global economy to 2030, the report points to a range and combination of policy scenarios available to reduce the impact of nature's loss on economies. This modeling framework represents an important steppingstone towards 'nature-smart' decision-making, as it seeks to support policymakers who face complex tradeoffs involving the management of natural capital, and hence achieving growth that is resilient and inclusive.
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Integral and Separate Effects Test Facilities To Support Water Cooled Small Modular Reactors: A Review
In: Progress in nuclear energy: the international review journal covering all aspects of nuclear energy, Band 160, S. 104697
ISSN: 0149-1970
Integrated Modeling of Nature's Role in Human Wellbeing: A Research Agenda
In: GEC-D-23-01408
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