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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
41

住宅市場之價格搜尋行為-定錨效果、仲介服務與市場機制選擇之影響 / Housing Price Search Bebavior: The Effects of Anchoring, Brokerage Service, and Market Mechanism Choice

廖仲仁, Liao,Chung-Jen Unknown Date (has links)
住宅市場是典型的不完全訊息市場,每個市場參與者並不知道潛在交易對象的所在位置、偏好,與保留價格。不完全訊息意涵著,交易者必須透過搜尋才能找到交易對象,因而必須支付搜尋成本,也會形成搜尋市場。不論是住宅交易的買方或者賣方,都可以選擇是自行搜尋交易對象,或者透過仲介業者來協助交易的達成。然而,仲介業者對於住宅搜尋市場之影響,目前仍存在著許多問題是尚待釐清的,而拍賣市場在台灣所扮演的重要性愈來愈高,其市場機制的價格效果也是值得關注的問題: 一、跨區購屋、定錨行為與仲介服務效果 買賣房屋幾乎必然會有議價過程,雙方的議價能力除了受到市場條件的影響外,賣方對於本身所蓋或者所擁有的房屋及附近地區市場等資訊都較買方為多,因此賣方處於較有利的地位。因此,本研究的第一個研究問題即是:就購屋者彼此之間,在地購屋者是否比跨區購屋者具有訊息優勢?參考價格偏誤是否存在?具有訊息優勢的仲介服務能否改善購屋者的搜尋成本與參考價格偏誤?本研究實證結果顯示,基於搜尋成本較高的原因,跨鄉鎮市區的跨區購屋者相對於未跨區者需要多支付3.8%的價格貼水。其次,參考價格愈高的地區,其購屋者會因為定錨效果或參考點偏誤而多支付1%的價格貼水,此外,高價格分配信念的購屋者,平均會支付4.9%的價格貼水。第三,地價上漲率較高地區的購屋者,會誤用自身地區的外推性預期,以為遷入地區也有同等的價格增值空間,而多支付約11.4%的價格貼水。最後,購屋者若尋求仲介服務亦能改善其出價能力,約可降低2.9%的價格貼水,然而,仲介服務在改善搜尋成本與定錨的效果方面則不顯著。 二、仲介服務對於價格分散之影響 本研究利用搜尋成本與價格分散的觀點,檢視具有訊息優勢的仲介服務業者是否真能提高住宅市場的價格搜尋效率。以台北地區的住宅市場資料,指出仲介服務的存在的確可以提高購屋者的搜尋能力。價格分散的估計與檢定結果則顯示:第一,購屋者成交價價格分散小於訂價價格分散;第二,透過仲介服務搜尋者訂價價格分散未顯著異於自行搜尋者的訂價價格分散,可是透過仲介服務搜尋者的成交價價格分散則顯著小於自行搜尋者的成交價價格分散,同時透過仲介服務的價格收斂比率較高。此乃表示,仲介服務業者並未運用其訊息優勢協助賣方進行較有效率的訂價,但是能有效地協助買賣雙方透過配對與議價活動,大幅地降低成交價的價格分散程度。此外,進一步比較國內相關研究結果,目前台北市的住宅市場訊息效率已較過去有顯著的改善,特別是透過仲介服務的改善效果更為明顯。 三、不對稱的仲介服務價格效果 過去有關仲介服務對於交易價格影響的實證結果卻出現許多分歧而不一致的現象,本研究認為過去相關文獻的差異,可能源自以普通最小平方迴歸的方式來估計仲介服務的價格效果時,會忽略住宅價格條件分配的差異。以分量迴歸估計後發現,仲介服務係數在各價格分量呈現很大的差異且顯著,仲介服務的價格效果,在0.10分量約有4.4%的溢價,而 0.75分量以上則約有-5.6%的折價現象。因此,本研究嘗試以高低價格分量的不對稱訂價策略,作為仲介服務價格效果不一致的現象的檢視觀點,並得到實證上的支持。 四、搜尋與拍賣市場機制選擇及拍賣市場績效之再檢視 拍賣市場為購屋者的重要次級市場之一,因此拍賣市場的績效就顯得愈來愈重要。本研究考慮了購屋者的搜尋成本對於市場機制自我選擇偏誤的影響,重新檢視拍賣市場的績效。本研究實證結果顯示,在未考慮自我選擇偏誤下,拍賣市場機制的估計係數為-22.6%,且達1%統計顯著水準。但是,在控制買方與物件的自我選擇偏誤後,我國拍賣市場與搜尋市場間並無顯著的價格差異存在,因而本研究對於過去國內相關文獻認為拍賣市場一定比搜尋市場折價較多的說法,提出了相當的質疑。惟此三年間我國北部地區拍賣市場的拍定率從10%快速成長到30%,而市場條件的快速變化,很可能會造成較大的拍賣價格變異。因此在後續研究上,可以比較拍定率差異較大的時間進行比較研究,以了解本研究結果之穩定度。 / This dissertation employs search theory and behavior theory to study four relative essays. The first essay is to test three questions using a unique data base in the viewpoint of search cost and Anchoring behavior: First, is there anchoring effect or reference price bias on home-purchasing behavior? Second, is there any extrapolative expectation effect of reference price change on homebuyers? Third, can homebuyers reduce price premium from their high search cost or perceived bias? Those answers can help us understand if we can get alternative interpretation to housing price dispersion and if government should provide housing information service. Empirically, we find that out-of-town/district buyers pay a statistically significant price premium in the Taipei area. We also find some evidence consistent with the price premium being driven by high search costs, anchoring effect and extrapolative expectation from heuristics. Finally, homebuyers can lower price premium through real estate brokers in the market. The second essay is to examine the efficiency of housing and brokerage markets in view of price dispersion. We find brokerage service enhance the search ability of homebuyers. We use listing price prices as the prices before search and the actual transaction prices as the price after search, and we also separate the sample into search by homebuyers and search by broker. We find that search by broker decreases the price dispersion compared to search by homebuyers. The third essay is try to explain a number of past and recent studies provided conflicting empirical answers to the effect of real estate brokerage service on housing price. We employ quantile regression to capture the behavior at each quantile of conditional house price distribution and to test the asymmetric effects of brokerage service. An important findings of this paper is that the price effects of real estate brokerage service are significant heterogeneous across the conditional price distribution. The contribution of this paper to the prior literature is to provide empirical evidence by showing that broker might have a positive, negative, or zero impact on the housing prices. The final essay is to discuss the decision making behavior of housing markets mechanism choice. Real estate auction market has been one of main market mechanisms of home purchase. Therefore, the performance of real estate auctions is a very important issue. This article reviews the price premium or discount of real estate auctions by correcting the self-selectivity bias in a view of homebuyers’ search cost. The empirical result shows that the availability of an auction as an alternative has the result of high search cost buyers attending auctions. Next, after accounting for the endogenous nature of this choice and controlling for property and buyer characteristics, prices of properties sold at auction were not lower than those of comparable properties sold in a search market. It is questionable to say the performance of real estate auctions is inferior to that of negotiated sales at Taiwan.
42

消費者搜尋行為與政府課稅之研究 / Consumer search and taxation

陳君儀, Chen, Chun-Yi Unknown Date (has links)
搜尋理論是訊息經濟學中很重要的一部份,搜尋行為有助於決策約滿意度。本文研究的重點主要在於商品市場上的消費者價格搜尋、消費決策及其與政府課稅之間的關係。 在消費者採用連續搜尋,而且假設搜尋不可回溯,搜尋次數有限,價格分配已知時,搜尋決策其有保留價格的性質。以「向後求解」的方法,消費者可以得到各期之保留價格。保留價格是稟賦所得、搜尋成本、其他財貨價格、效用函數及價格分配型態的函數。假設其他條件不變,若稟賦所得減少,搜尋成本增加,則保留價格上升;隨著已搜尋約次數增加,保留價格跟著上升,亦即消費者在搜尋過程中會愈來愈願意接受較高的價格。 消費者從事搜尋行為時的保留價格和搜尋成本會對消費決策產生影響。保留價格不但決定停止搜尋的時機,也會影饗真正從事購買的價格;可以用來消費的淨所得因搜尋次數的多寡而增減,所以等於也受到保留價格的影響。外生變數變動會改變保留價格,進而間接影饗預期需求,包括改變可接受價格之範圍和停止搜尋機率;然而,同時也會直接影響需求函數,總合上述兩者才能決定對預期需求的影響為何,結果通常使預期需求增減不易判別。預期搜尋次數與保留價格成反向關係。 政府對需要搜尋的財貨課從量稅,使價格分配向右平移,保留價格會隨之上升,但上升的幅度不會剛好等於稅率。稅率愈高,保留價格上升幅度愈大。平均而言,消費者因為租稅轉嫁必須支付較高的價格,所以會減少需求,此為課稅的直接影響;再加上提高保留價格而封預期需求產生間接影響,結果需求增減不易確定。在政府追求社會福利極大且受限於固定稅收之下,得到價格訊息不完全的最適租稅法則,比價格確定時多出了社會搜尋效果,包括課稅對願接受價格上下限和停止搜尋機率的影響,主要是透過課稅改變保留價格來達成。 假若效用函數為 Cobb-Douglas 的型態,價格呈一致分配,則由模擬方析結果發現,課稅後需搜尋財貨預期需求量減少,不需搜尋財貨預期需求量增加,預期效用降低且搜尋次數減少。
43

Essays on the Relationship of Competition and Firms' Price Responses

Lee, Sungbok 2010 December 1900 (has links)
This dissertation investigates the relationship of competition and firms' price responses, by analyzing: i) whether new entry reduces price discrimination, ii) when incumbents reduce price discrimination preemptively in response to the threat of entry, and iii) how competition increases prices. The dissertation consists of three independent essays addressing each of the above questions. The first two essays present an empirical analysis of the airline industry and the third essay presents a theoretical analysis of the credit card industry. In the empirical study of the relationship between competition and firms' pricing in the airline industry, I emphasize the importance of distinguishing the equilibrium behaviors with respect to different market characteristics. Major airlines can price discriminate differently in a market where they compete with low-cost carriers comparing to in another market where they don't, and also they can respond dfferently to the threat of entry depending on whether they are certain about the rival's future entry. The study reveals that competition has a positive effect on price discrimination in the routes where major airlines compete against one anther. In these routes, competition reduces lower-end prices to a greater extent than upper-end prices. In contrast, an entry by low-cost carriers results in a significant negative relationship between competition and price discrimination. Thus, the opposite results in the literature are both evident in the airline industry, and it is very important to identify the different forces of competition on price discrimination. Firms can respond to potential competition as well as actual competition. So, I extend the study to the relationship of potential competition and price discrimination, specially in cases where major airlines compete against one another while facing Southwest's threat of entry. I also attempt to suggest major airlines' motives of reducing price discrimination preemptively. The results of the study suggest that incumbents reduce price dispersion when it is possible to deter the rival's entry and that the potential rival discourages incumbents from deterring entry by announcing before its beginning service. Finally, I examine when competition can increase prices in a market, by analyzing the issuing side of the credit card industry. This industry is characterized by a two-sided market with a platform. Under the no-surcharge rule that restricts merchants to set the same price for cash and card purchases, the equilibrium interchange fee increases with competition. This occurs because issuers can compensate losses from competing on the issuing side by collectively increasing the interchange fee. As a result, limiting competition may improve social welfare when the interchange fee is higher than the social optimal level. In contrast, in the absence of the no-surcharge rule, the analysis shows that competition always improves social welfare by lowering the price of the market.
44

多重市場競爭與價格離散之關聯 : 以美國境內航空市場為例 / Does multimarket contact matter for price dispersion in the airline industry?

劉亭彣, Liou, Ting-Wun Unknown Date (has links)
本文以美國境內航空市場為例,探討多重市場接觸與價格離散的關聯,並研究大型航空公司併購案前後多重市場接觸對航空公司競爭策略的影響。本研究發現:(一) 相互容忍說於併購案發生前後皆成立。(二) 相較於考量擴大市場的市佔率,航空公司更應該關注與競爭者間的競爭關係。(三) 併購案發生前後,航空公司的訂價行為都深受競爭對手的競爭策略影響。(四) 併購案發生前,因競爭者多,市場上航空公司平均市佔率的大小是航空公司可採取競爭手段重要因素之一。在最大的1000 個市場中,雖然每家航空公司的市場力量不大,航空公司仍可採取價格競爭,然若是對手間聯合懲罰,則航空公司不敢採取激進手段,且多重市場接觸越多,價格離散程度越大。而在次要競爭的市場中,則因航空公司的平均市占率是最大的1000 個市場的兩倍,因此航空公司並未有明顯競爭行為。但若考量競爭對手間的碰面次數,則多重市場接觸與不同分位價格關係為正,且多重市場接觸越多,價格離散程度越低。併購案發生後,因航空公司間彼此箝制力量大,與競爭對手間的碰面次數越多,越傾向隱性勾結,且高價位的價格上升較低價位價格多,使價格離散程度越大。 / In this paper, we discuss whether multimarket contact matters for price dispersion in the U.S. airline industry, and compare the influence of multimarket contact on airlines’ competition strategies before and after airline mergers and acquisitions. We find that: (a) Before and after the mergers, mutual forbearance exists. (b) In contrast to an airline‘s market share, the relationship between airlines and itself plays a more important role in its pricing strategy.(c) Before and after the mergers, airline companies’pricing strategies are significantly affected by their competitors’strategies. (d) Before the mergers, because of the intense competition, it is the size of the competitors‘ market share that the company decide whether to take aggressive strategies. In the top 1000 competitive markets,airline companies will take aggressive actions to get more passengers for the punishment from its competitor is an incredible threat, however, if competitors collude together, airline companies will hardly dare to cut price. And the effect of an increase in multimarket contact on price dispersion is positive and significant. In the second competitive markets, since the average market share is twice bigger than in the top 1000 markets, airlines prefer not to participate in cut-throat competition. However, if competitors collude, then airline companies will cooperate together, and the effect of an increase in multimarket contact on price dispersion is negative and significant. After the mergers, increase in contacts with competitors would facilitate mutual forbearance and increase price dispersion and higher-percentile prices will increase more than lower-percentile prices.
45

Empirické eseje z institucionální mikroekonomie / Empirical Essays in Institutional Microeconomics

Schwarz, Jiří January 2017 (has links)
The dissertation consists of three empirical papers in institutional microeconomics. The first paper examines the role of institutional quality in international trade, the second paper focuses on unintended consequences of intellectual property rights for social welfare, and the last one addresses the impact of banking on corporate financing and investment. An introductory chapter puts these three papers into perspective. In the first paper I analyze the role of institutions in price dispersion among cities in the European region in the 1996-2009 period. Using a number of institutional quality measures I find that the better the institutions, the lower the predicted dispersion. The result is robust to different specifications of the regression model and is consistent with a hypothesis that arbitrage, as an entrepreneurial activity and the main power behind the law of one price, is influenced by institutional quality. In the second paper I use a large data set of U.S. patents applied for between 1980 and 2007 by 22 large technology companies to study development of strategic patenting over time and across industries. Using two complementary methods I reveal strong evidence against the hypothesis of more strategic patenting after 1995. Contrary to the expectations, aerospace patents appear to be on average...
46

Tvorba a řízení hodnoty v obchodních řetězcích / Value generation and management in retail/whole chains

Vrbová, Jana January 2009 (has links)
Thesis ?Value generation and management in retail/whole chains? was started with intention to offer enhanced theoretical basis for research in this area, that is still represented insufficiently in comparison to importance of retail/whole chains in whole economy. Additionally the practical inconsistency between trading rules demostrated to customers and trading partners of chains (including visible behaviour of chains) and value driving variables bears interest. The thesis targets following: search and indication of potential value drivers (value affecting variables) of retail/wholesale chains description of such value affecting variables, testing of relevance of such value affecting variables synthesis of description and relevance (importance) gives recommendations and measures for value creation in these chains Based on analysis of external conditions and internal sources were identified following value generating areas: strategy of retail/wholesale chain growing from internal source of competitive advantage ? strategical differentiation, issue of expansion (understood both as strategical variable - potential competitive advantage, and external threat of concentration value creating variables of core business of retail/wholesale chain: price strategy managing of liquidity stabilization of operating profit in condition of fluctuation sales

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