We model a two period game with duopoly market under either quantity or price competition. In the first period, the manufacturer decides on whether to accept the returned products. The optimal ratio of refurbishing is then determined in the second period once the manufacturer has decided to do refurbishing. We identify the optimality conditions that lead to different possible equilibrium outcomes for different scenarios in which two firms may play symmetrically or asymmetrically. Our extensive numerical analysis substantiates the analytical results and we focus on the effect on the subgame perfect equilibrium caused by various parameters. Among our results, we find that, as the return ratio increases, the profits generated from the refurbished market become harder to compensate the loss in the new product market. Besides, the increase of substitution effect in the quantity competition enhances the degree of satisfaction for the refurbished products and it hurts firm¡¦s performance in the more profitable new product market. However, the effect of substitution effect in the price competition is entirely opposite. For instance, when the substitution effect is high, only one firm enters the refurbished product market; and when the substitution effect is low, both firms enter the refurbished product market.

This dissertation performs economic analysis of search advertising from a comprehensive picture of the competition facing advertisers---by incorporating the price competition to endogenously investigate advertisers' bidding incentive, and taking into account consumers' online search and the unique information structure associated with the search advertising format. It consists of three essays based on game-theoretic modeling. The first essay studies the oligopolistic price competition among advertisers placed in different advertising positions, considering distinctive features of consumers’ online search behaviors. We find an interesting local-competition pattern in which direct price competition occurs only between advertisers adjacent to each other. The second essay integrates the price competition into the bidding competition and investigates the endogenous bidding incentives of advertisers with different competitive strengths. Surprisingly, we find that an advertising position with a better exposure may not always be profitable for the advertisers with competitive advantage, even if it is cost free. We also show that the bidding outcome might not align with the relative competitive strength. The third essay further considers the effects of organic listing as a competing information source on the sponsored bidding competition and the outcome performances in search advertising. It provides answers to questions such as whether and why advertisers with sufficient exposure from the organic list may still be willing to bid for top sponsored positions, and how the existence of organic listing affects search engine’s revenue, consumer surplus, and social welfare. / text

京都大学 / 0048 / 新制・課程博士 / 博士(経済学) / 甲第21325号 / 経博第583号 / 新制||経||287(附属図書館) / 京都大学大学院経済学研究科経済学専攻 / (主査)教授 塩地 洋, 教授 田中 彰, 准教授 坂出 健 / 学位規則第4条第1項該当 / Doctor of Economics / Kyoto University / DGAM

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A large part of the empirical work on differentiated products markets has focused on demand estimation and the pricing behavior of firms. These two themes are key inputs in important applications such as the merging of two firms or the introduction of new products. The validity of inferences, therefore, depends on accurate demand estimates and sound assumptions about the pricing behavior of firms. This dissertation makes a contribution to this literature in two ways. First, it adds to previous techniques of estimating demand for differentiated products. Second, it extends previous analyses of pricing behavior to models of price leadership that, while important, have received limited attention. The investigation focuses on the U.S. brewing industry, where price leadership appears to be an important type of firm behavior. The analysis is conducted in two stages. In the first stage, the recent Distance Metric (DM) method devised by Pinkse, Slade and Brett is used to estimate the demand for 64 brands of beer in 58 major metropolitan areas of the United States. This study adds to previous applications of the DM method (Pinkse and Slade; Slade 2004) by employing a demand specification that is more flexible and also by estimating advertising substitution coefficients for numerous beer brands. In the second stage, different pricing models are compared and ranked by exploiting the exogenous change in the federal excise tax of 1991. Demand estimates of the first stage are used to compute the implied marginal costs for the different models of pricing behavior prior to the tax increase. Then, the tax increase is added to the these pre-tax increase marginal costs, and equilibrium prices for all brands are simulated for each model of pricing behavior. These "predicted" prices are then compared to actual prices for model assessment. Results indicate that Bertrand-Nash predicts the pricing behavior of firms more closely than other models, although Stackelberg leadership yields results that are not substanitally different from the Bertrand-Nash model. Nevertheless, Bertrand-Nash tends to under-predict prices of more price-elastic brands and to over-predict prices of less price- elastic brands. An implication of this result is that Anheuser-Busch could exert more market power by increasing the price of its highly inelastic brands, especially Budweiser. Overall, actual price movements as a result of the tax increase tend to be more similar across brands than predicted by any of the models considered. While this pattern is not inconsistent with leadership behavior, leadership models considered in this dissertation do not conform with this pattern. / Ph. D.

This essay is investigating the increasing Swedish garment export during the period 1997-2003. Despite a long-lasting national production decrease and stronger global competition Swedish designed clothing are exported at higher rates than ever. The hypothesis that this increase is due to increased trade and changed production stage specialization is investigated. The theory used to investigate this is basic trade theory including Hecksher-Olin and New Trade theory with a focus on comparative advantage and specialization. This is completed with production theory that is particularly relevant for the garment industry: product and price competition, fashion cycles and vertical specialization. Trade, production and labor data is analyzed according to this and the main results are based on the unit price development: exports had a much higher growth in unit prices than imports. This is indicating that Sweden has a revealed comparative advantage in capital intensive production stages, a fact further supported by high education levels and high production value per worker. The industry has chosen to focus on product competition rather than price competition and has managed to shorten its product cycles in order to better exploit the fashion cycles. In some garment groups the image is more complex and one of the main theories of a design heavy garment such as jeans being the core of the success is revised. The export success is to a large extent due to an increasing specialization in the industry’s strong areas. / Den här uppsatsen undersöker tillväxten av Sveriges export i klädindustrin från 1997-2003. Trots att Sveriges klädproduktion har minskat i flera år och globalisationen tränger sig på så går svenska design plagg på högexport. Vår hypothes är att ökningen härstammar från ökad handel och specialisering i produktionsleden. Teorier vi har använt för att undersöka fenomenet är grundläggande handelsteorier så som Hecksher-Ohlin och New trade theory med fokus på komperativa fördelar och specalisation. Vi har valt att komplettera med produktions theorier som vi känner är relevanta för klädindustrin: produkt och pris konkurrens, mode cykler och vertikal specialisering. Handels-, produktions- och arbetskrafts- statistik har analyserats och huvudresultaten är baserade på utvecklingen av enhetspris: exporten har en högre tillväxt i enhetspris än importen. Detta indikerar att Sverige har en uppenbar komperativ fördel i de kapitalintensiva produktionsleden, detta bekräftas ytterligare genom höga utbildningsnivåer och en hög produktion per arbetare. Den svenska klädindustrin har valt att fokusera mer på produktkonkurrens än priskonkurrens, den har också lyckats med att minska sina produktions cykler för att unyttja marknaden bättre. I en del grupper är bilden mer komplex och en av våra huvudteorier var att jeans stod för stora delar av exportsuccen, denna teori fick vi dock avfärda. Vad vi kom fram till var att stora delar av exportsucceen kommer ifrån en ökning av specialiseringen.

<p>This essay is investigating the increasing Swedish garment export during the period 1997-2003. Despite a long-lasting national production decrease and stronger global competition Swedish designed clothing are exported at higher rates than ever. The hypothesis that this increase is due to increased trade and changed production stage specialization is investigated.</p><p>The theory used to investigate this is basic trade theory including Hecksher-Olin and New Trade theory with a focus on comparative advantage and specialization. This is completed with production theory that is particularly relevant for the garment industry: product and price competition, fashion cycles and vertical specialization.</p><p>Trade, production and labor data is analyzed according to this and the main results are based on the unit price development: exports had a much higher growth in unit prices than imports. This is indicating that Sweden has a revealed comparative advantage in capital intensive production stages, a fact further supported by high education levels and high production value per worker. The industry has chosen to focus on product competition rather than price competition and has managed to shorten its product cycles in order to better exploit the fashion</p><p>cycles. In some garment groups the image is more complex and one of the main theories of a design heavy garment such as jeans being the core of the success is revised. The export success is to a large extent due to an increasing specialization in the industry’s strong areas.</p> / <p>Den här uppsatsen undersöker tillväxten av Sveriges export i klädindustrin från 1997-2003. Trots att Sveriges klädproduktion har minskat i flera år och globalisationen tränger sig på så går svenska design plagg på högexport. Vår hypothes är att ökningen härstammar från ökad handel och specialisering i produktionsleden.</p><p>Teorier vi har använt för att undersöka fenomenet är grundläggande</p><p>handelsteorier så som Hecksher-Ohlin och New trade theory med fokus på</p><p>komperativa fördelar och specalisation. Vi har valt att komplettera med produktions theorier som vi känner är relevanta för klädindustrin: produkt och pris konkurrens, mode cykler och vertikal specialisering.</p><p>Handels-, produktions- och arbetskrafts- statistik har analyserats och</p><p>huvudresultaten är baserade på utvecklingen av enhetspris: exporten har en högre tillväxt i enhetspris än importen. Detta indikerar att Sverige har en uppenbar komperativ fördel i de kapitalintensiva produktionsleden, detta bekräftas ytterligare genom höga utbildningsnivåer och en hög produktion per arbetare. Den svenska klädindustrin har valt att fokusera mer på produktkonkurrens än priskonkurrens, den har också lyckats med att minska sina produktions cykler för att unyttja marknaden bättre. I en del grupper är bilden mer komplex och en av våra huvudteorier var att jeans stod för stora delar av exportsuccen, denna teori fick vi dock avfärda. Vad vi kom fram till var att stora delar av exportsucceen kommer ifrån en ökning av specialiseringen.</p>

My dissertation is a collection of three essays that study various aspects of non-price competition among firms using fully microfounded general equilibrium models. The first two chapters, both coauthored with Benedetto Molinari, introduce advertising expenditures by firms into a dynamic and stochastic general equilibrium model (DSGE), in order to address the question of whether and how aggregate advertising expenditures provide important effects upon the aggregate economy. In particular, the first chapter provides a short-run analysis, by focusing on the implications of aggregate adverting expenditure upon the business cycle. The second chapter, in turn, focuses on long-run effects of advertising, by analyzing the implications upon the steady-state equilibrium of aggregate advertising expenditures by firms. The last chapter, by using a modified version of the canonical New Keynesian model, investigates the effect upon inflation dynamics of non-price competition among firms. / Esta tesis contiene tres ensayos que estudian varios aspectos de la competencia no en precio entre las impresas, utilizando modelos de equilibrio general micro-fundados. En los primeros dos capítulos, ambos coautorados con Benedetto Molinari, se introducen gastos en publicidad de las empresas en un modelo dinámico y estocástico de equilibrio general, a través del cual, se estudian las implicaciones de la publicidad en la economía agregada. El primer capítulo se focaliza en los efectos de corto plazo de la publicidad, analizando las implicaciones con respecto al ciclo económico. El segundo capítulo, estudia los efectos de largo plazo de la publicidad, con el objetivo de analizar las implicaciones sobra el estado estacionario del economía. En el último capítulo se utiliza una versión modificada del modelo Neo-Keynesiano que estudia los efectos de la competencia no en precio en relación la dinámica de la inflación.

Made available in DSpace on 2016-03-15T19:30:39Z (GMT). No. of bitstreams: 1 Luiz Guilherme Azevedo Mauad.pdf: 2910298 bytes, checksum: 249a2bed427bd7a8dc926ab2d3586459 (MD5) Previous issue date: 2010-07-01 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / Purchasing high quality and low price products has become a consumer fixation, mainly where the lowest price is demanded and in reverses auctions, whether electronic or not. The importance of establishing retail prices of projects, products and services has been increasing. Therefore, it has become a strategic and challenging task for managers while also being one of their great fears. In a global and highly competitive market, price setting may influence consumers buying choices: a product s value and quality, which meet their expectations, will sell a product or project. On the other hand, a price inaccurately fixed may turn offers down and lead a company into unwished results. Research shows that markup pricing method is still the most common technique used by companies. However, fixing a price based on this method and taking into account a deterministic cost value may lead a company into making the wrong decisions and taking unnecessary risks. Prices undergo the influence of several costs and market related factors, which, somehow, have some kind of uncertainty risk. Nevertheless, when one is dealing with costs this uncertainty becomes more latent. Therefore, they must be taken into consideration in the company s pricing process. The present research study, based on RiskMetrics concepts such as VaR and, mainly, CorporateMetrics, proposes and applies a pricing model named Cost at Risk based Price (PCeR) in a high technology venture. The model approaches costs incurred stochastically instead of deterministically and takes into account the risks inherent to their composing parameters. The model has proven to be a useful and flexible tool, which offers to managers greater understanding when fixing retail prices. That understanding may assist organizations to reach a market, overcome their competitors and grow profitably. / Adquirir produtos com qualidade e preços baixos tornou-se uma obsessão para o consumidor,principalmente, nas concorrências em que o menor preço é exigido e nos leilões reversos,realizados por meio eletrônico ou não. A fixação de preços de venda para projetos, produtos e/ou serviços adquire, a cada dia, maior importância. Torna-se uma atividade estratégica e um dos grandes desafios para os gestores e, porque não dizer, um dos seus grandes temores. Em um mercado global e altamente competitivo, o dimensionamento de preço pode influir na decisão de compra do consumidor: o estabelecimento de valor e qualidade que atendam à sua expectativa favorece a venda do produto, ou projeto, já um preço mal dimensionado pode fazê-lo refugar ofertas e levar a empresa a resultados indesejados. Estudos mostram que a precificação custo acrescido , ainda hoje, é a técnica mais utilizada pelas empresas, para cumprir essa função. Porém, definir o preço, com base neste modelo e considerar apenas um valor de custo determinístico, poderá levar a empresa a decisões errôneas e riscos desnecessários. Sabe-se que o preço sofre influência de uma série de fatores ligados ao custo e ao mercado que, de certa forma, contêm certo grau de incerteza, porém é nos custos que estas incertezas tornam-se mais latentes. Então, não se pode deixar de considerá-las no processo de precificação da empresa. Este trabalho, baseado nos conceitos propostos pelo RiskMetrics, como o VaR e, principalmente, nas CorporateMetrics, propõe e aplica, em uma empresa de alta tecnologia, um modelo de precificação denominado Preço baseado no Custo em Risco (PCeR), que aborda os custos incorridos não mais de maneira determinística, mas de forma estocástica, levando em consideração os riscos inerentes aos parâmetros que o compõem. O modelo mostrou ser uma ferramenta útil e flexível aos gestores, oferecendo uma maior visibilidade na definição do preço de venda, visibilidade essa que pode levar a organização a conquistar mercado, superar a concorrência e crescer com lucratividade.

BPCIA在2010年三月生效後，生物相似藥廠商開始可以利用簡化的文件向美國食品和藥物管理局（FDA）申請藥品許可證，這個新醫療法賦予FDA決定如何落實法案的權力。基於不同生物製劑之間缺乏比較性這個已知的事實，加上公眾安全的考量，在還沒有累積大量經驗可以歸納出哪些是比較分析必要的資訊之前，FDA會保守的要求生物相似藥廠商以BPCIA提出申請時，必須提供臨床試驗資料來證明與參照藥品之間沒有臨床上有意義的差異。 雖然BPCIA給出了解決專利糾紛的框架，俗稱專利舞蹈(patent dance)，依照目前聯邦巡迴上訴法院對BPCIA的解釋，認為BPCIA法案不強制生物相似藥申請者遵循其規定之專利糾紛解決程序，雖然就目前的最新發展來看，迴避專利舞蹈可以避免一些程序上的麻煩，但真正參照藥品廠商和生物相似藥公司的輸贏仍是在訴訟戰場上見真章。 美國FDA在2015年3月6日核准了的一個生物相似藥-Zarxio( filgrastim-sndz)，目前尚不清楚均等論這種不確定性在生物相似藥上影響的程度，但藉由簡化新藥申請上市的小分子藥物所涉入的侵權訴訟做有限度的推論可以發現，小分子藥物的均等謬論案件是牽涉到外圍專利，當專利不再提供足夠的誘因去激勵專利權人時，學名藥廠商就會贏得均等論謬論案件。因為生物製劑是一種製程決定的產物，因此其專利通常是集中在製程。以BPCIA和專利法為框架來分析過去的相關侵權訴訟，可以預測生物相似藥廠商在轉化前步驟、轉化步驟、調劑、或包裝做改變，其成功的機會較大，而在細胞培養會純化步驟做改變，成功的機會最小。然而，最終還是要看法院將來如何解決生物相似藥的侵權問題，各方都要意識到科學與法律議題的複雜性，及妥適解決侵權訴訟的重要性。 台灣廠商要進入生物相似藥的領域，是困難重重的。生物相似藥的開發及法規成本，不如想像中低，鑒於蛋白質藥『產能』一直被看作是市場發展受阻的主要原因，藥廠委外合作(CRO、CMO或NRDO) 的模式能快速與國際藥廠接軌，逐步奠定台灣在藥物開發的供應鏈合作利基並提昇國際知名度。 / The Biologics Price Competition and Innovation of 2009 was activated on March in 2010. Now the US Food and Drug Administration (FDA) can approve biosimilars and was empowered to how to practice. Given the known issues with lack of comparability between different biologics preparations, and the Agency’s strong interest in protecting public safety, it is probable that, until it has developed a body of experience with regards to the amount and kind of data needed to make comparability evaluations, the FDA will adopt a conservative approach and require at least some clinical studies before approving biologics under BPCIA. Though BPCIA provide the frame for resolving patent issues, that is so-called patent dance, Federal Circuit said that parties were not compelled to dance. Thus the law uncertainty was shifted to patent infringement. FDA approved the first biosimilar, Zarxio (filgrastim-sndz), on 6, March, 2015. It is unclear how biosimilar will be treated in court based on doctrine of equivalence. Based on the experience from generics, courts tends to adjust the scope of equivalents to improve the correspondence between patent scope and desired patent incentives. In contrast, biologics is path depended. That is to say process decided what biologics would be. Both the BPCIA and patent law guide the shape of infringement suits. Follow-on biologics companies will be most successful when they make a change in the pretransformation process, the transformation process, the formulation, or the packaging. They will be least successful when they make a change in the cell culture conditions or the purification process. It remains to be seen how courts will address issues of infringement for follow-on biologics, but all parties should be aware of the complexity of the scientific and legal issues and the importance of addressing them properly. The cost for development and the complexity of regulation in biosimilars were tremendously high. Thus it is difficult for biopharmaceutical industries in Taiwan to enter this field. In the light of unmet production capacity in protein drug, pharmaceutical industries in Taiwan could apply the mode of CRO, CMO or NRDO to integrate into global biopharmaceutical community.