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The Supply Network and Price Dispersion in the Canadian Gasoline Market 加拿大汽油市场的供应网络与价格分散
IF 0.7 4区 经济学 Q3 ECONOMICS Pub Date : 2018-06-26 DOI: 10.1515/RNE-2019-0016
Malloy Brandon
This paper examines the impact of variation in transportation options – what I denote the “supply network” – on observed price differences between locations for a specific good, retail gasoline. I use a unique data set of weekly gasoline prices across 44 Canadian cities to analyze how the existence of variation in the available modes of transportation for gasoline between cities (via pipeline, marine tanker, rail or truck) accounts for observed price differences across locations. I find that the supply network is significant – cities connected by lower cost-per-unit methods like pipelines or seaports exhibit smaller mean- and weekly-price differences than those connected only by road or rail, after controlling for distance, regional effects and market size. A pipeline connection results in a reduction in weekly price dispersion equivalent to a 53% reduction in distance between cities, while a maritime connection has the equivalent effect of a 38% reduction in distance between cities.
本文考察了运输选择的变化——我称之为“供应网络”——对一种特定商品零售汽油在不同地点之间观察到的价格差异的影响。我使用了加拿大44个城市每周汽油价格的独特数据集来分析城市之间可用的汽油运输方式(通过管道、海上油轮、铁路或卡车)的差异如何解释不同地点之间观察到的价格差异。我发现供应网络是重要的——在控制了距离、区域效应和市场规模之后,通过管道或海港等单位成本较低的方式连接起来的城市,其平均和每周价格差异比仅通过公路或铁路连接的城市要小。管道连接导致每周价格差异的减少相当于城市之间距离的53%,而海上连接的效果相当于城市之间距离的38%。
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引用次数: 0
Cards on the Table: Efficiency and Welfare Effects of the No-Surcharge Rule 摊牌:无附加费规则的效率和福利效应
IF 0.7 4区 经济学 Q3 ECONOMICS Pub Date : 2018-03-26 DOI: 10.1515/rne-2017-0036
David Henriques
Abstract In Electronic Payment Networks (EPNs), the No-Surcharge Rule (NSR) requires that merchants charge at most the same amount for a payment card transaction as for cash. In this paper, I use a three-party model (consumers, local monopolistic merchants, and a proprietary EPN) with endogenous transaction volumes, heterogeneous card use benefits for merchants and network externalities of card-accepting merchants on cardholders to assess the efficiency and welfare effects of the NSR. I show that the NSR: (i) promotes retail price efficiency for cardholders, and (ii) inefficiently reduces card acceptance among merchants. The NSR can enhance social welfare and improve payment efficiency by shifting output from cash payers to cardholders. However, if network externalities are sufficiently strong, the reduction of card payment acceptance affects cardholders negatively and, with the exception of the EPN, all agents will be worse off under the NSR. This paper also suggests that the NSR may be an instrument to decrease cash usage, but the social optimal policy on the NSR may depend on the competitive conditions in each market.
在电子支付网络(EPNs)中,无附加费规则(NSR)要求商家对支付卡交易收取最多与现金交易相同的金额。在本文中,我使用了一个三方模型(消费者、本地垄断商家和专有EPN),该模型具有内生交易量、商家的异质持卡人使用卡收益和接受卡商家对持卡人的网络外部性,以评估NSR的效率和福利效应。我表明NSR:(I)提高持卡人的零售价格效率,(ii)无效地降低商家对卡的接受度。NSR可以通过将产出从现金支付者转移到持卡人,从而提高社会福利和支付效率。然而,如果网络外部性足够强,信用卡支付接受度的降低会对持卡人产生负面影响,除了EPN之外,所有代理商在NSR下的情况都会更糟。本文还认为,低噪音噪音可能是减少现金使用的一种工具,但在低噪音噪音噪音下的社会最优政策可能取决于各个市场的竞争条件。
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引用次数: 1
Bundling, Vertical Differentiation, and Platform Competition 捆绑、垂直差异化和平台竞争
IF 0.7 4区 经济学 Q3 ECONOMICS Pub Date : 2018-01-01 DOI: 10.1515/rne-2017-0046
Keke Sun
Abstract This paper studies the bundling strategies of two firms that each sell a horizontally differentiated platform and a complementary good. When the complementary goods are vertically differentiated, the firm that sells the superior one can commit to a more aggressive pricing strategy through bundling. In the presence of asymmetry in externalities between the two sides in the platform market, bundling may be profitable without foreclosing the rival when platforms implement cross subsidies from the high-externality side (developers) to the low-externality side (consumers). Bundling has a positive effect on welfare because it allows for better internalization of the indirect network effects and reduces the developer cost of multi-homing, but it also has a negative effect because some consumers consume less-preferred components. Consequently, bundling is socially desirable when platforms are not too differentiated and the vertical differentiation between the complementary goods is high.
摘要本文研究了两家公司各自销售横向差异化平台和互补商品的捆绑销售策略。当互补产品垂直差异化时,销售优势产品的公司可以通过捆绑销售采取更激进的定价策略。在平台市场双方外部性不对称的情况下,当平台从高外部性方(开发商)向低外部性方(消费者)实施交叉补贴时,捆绑销售可能在不排挤竞争对手的情况下获利。捆绑对福利有积极的影响,因为它允许更好地内部化间接网络效应,并降低开发商的多家成本,但它也有负面影响,因为一些消费者消费不太喜欢的组件。因此,当平台没有太大的差异化,互补商品之间的垂直差异化很高时,捆绑销售是社会理想的。
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引用次数: 2
The Rise of Streaming Music and Implications for Music Production 流媒体音乐的兴起及其对音乐制作的影响
IF 0.7 4区 经济学 Q3 ECONOMICS Pub Date : 2017-11-08 DOI: 10.1515/rne-2017-0064
R. S. Hiller, Jason M. Walter
Abstract In this paper, we model the potential for streaming music, a non-durable product, to upend and displace durable music sales. As the popularity of streaming music increases producers will adjust their production to focus on the non-durable channel. We identify conditions under which the changes in music delivery will encourage musicians to release fewer songs, but at a higher quality, leading to market deepening and increased engagement. This change will complete the unbundling process in music production making the traditional bundled album of little importance. This tendency toward unbundling for individual musicians depends on a robust bundle from a delivery platform to provide value for consumer subscriptions. Beyond a model of consumer utility and producer profit, we analyze the most played songs of the large streaming music platform, Spotify, and compare those results to traditional album sales using Nielsen data.
在本文中,我们对流媒体音乐这种非耐用产品的潜力进行了建模,以颠覆和取代耐用音乐的销售。随着流媒体音乐的普及,制作公司将调整制作,专注于非持久性频道。我们确定了在哪些条件下,音乐传播方式的变化将鼓励音乐家发行更少的歌曲,但质量更高,从而导致市场深化和参与度增加。这一变化将完成音乐制作中的分拆过程,使传统的捆绑专辑变得不那么重要。这种针对个人音乐人的非捆绑销售趋势依赖于交付平台提供的强大捆绑服务,为消费者订阅提供价值。除了消费者效用和生产商利润模型之外,我们分析了大型流媒体音乐平台Spotify上播放次数最多的歌曲,并使用尼尔森数据将这些结果与传统专辑销售进行了比较。
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引用次数: 20
The Value of Consumer Data in Online Advertising 消费者数据在网络广告中的价值
IF 0.7 4区 经济学 Q3 ECONOMICS Pub Date : 2017-09-26 DOI: 10.1515/rne-2017-0066
M. Bourreau, B. Caillaud, Romain de Nijs
Abstract In this paper we propose a model where consumer personal data have multidimensional characteristics, and are used by platforms to offer ad slots with better targeting possibilities to a market of differentiated advertisers through real-time auctions. A platform controls the amount of information about consumers that it discloses to advertisers, thereby affecting the dispersion of advertisers’ valuations for the slot. We first show by way of simulations that the amount of consumer-specific information that is optimally revealed to advertisers increases with the degree of competition on the advertising market and decreases with the cost of information disclosure for a monopolistic platform, competing platforms or a welfare-maximizing platform, provided the advertising market is not highly concentrated. Second, we exhibit different properties between the welfare-maximizing situation and the imperfectly competitive market situations with respect to how the incremental value of information varies: there are decreasing social returns to consumers’ data, while private returns may be increasing or decreasing locally.
在本文中,我们提出了一个模型,其中消费者的个人数据具有多维特征,并被平台利用,通过实时拍卖为差异化的广告商市场提供更好的定位可能性的广告位。平台控制着向广告商披露的消费者信息的数量,从而影响广告商对广告时段估值的分散。我们首先通过模拟的方式表明,对于垄断平台、竞争平台或福利最大化平台,在广告市场不是高度集中的情况下,向广告商最优披露的消费者特定信息的数量随着广告市场竞争程度的增加而增加,随着信息披露成本的降低而减少。其次,在福利最大化和不完全竞争市场情况下,信息增量价值的变化表现出不同的特征:消费者数据的社会回报是递减的,而个人回报可能是局部递增或递减的。
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引用次数: 6
Following the Code: Spillovers and Knowledge Transfer 遵循守则:溢出效应和知识转移
IF 0.7 4区 经济学 Q3 ECONOMICS Pub Date : 2017-09-26 DOI: 10.1515/rne-2017-0056
Neil Gandal, Peter Naftaliev, Uriel Stettner
Abstract Knowledge spillovers in Open Source Software (OSS) can occur via two channels: In the first channel, programmers take knowledge and experience gained from one OSS project they work on and employ it in another OSS project they work on. In the second channel, programmers reuse software code by taking code from an OSS project and employing it in another. We develop a methodology to measure software reuse in a large OSS network at the micro level and show that projects that reuse code from other projects have higher success. We also demonstrate knowledge spillovers from projects connected via common programmers.
开源软件中的知识溢出可以通过两个渠道发生:在第一个渠道中,程序员从他们从事的一个开源软件项目中获得知识和经验,并将其应用到他们从事的另一个开源软件项目中。在第二个通道中,程序员通过从OSS项目中获取代码并在另一个项目中使用它来重用软件代码。我们开发了一种方法来在微观层面上度量大型OSS网络中的软件重用,并表明重用其他项目代码的项目有更高的成功。我们还展示了通过共同程序员连接的项目的知识溢出。
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引用次数: 2
Special Issue on “Economics of Digitization” “数码经济”特刊
IF 0.7 4区 经济学 Q3 ECONOMICS Pub Date : 2017-09-26 DOI: 10.1515/rne-2018-0029
Paul Belleflamme, Alexandre de Cornière, Oliver Falck, A. Gautier
The process of digitization has already had a profound impact on the functioning of the markets in the last decade, and it should bring even more interesting changes in the near future. This Special Issue on the Economics of Digitization includes four selected articles, which illustrate the implications of various aspects of digitization for consumers and firms. The analysis of price discrimination has recently taken a new – and very interesting – turn, almost one century after the concept was formally introduced (Pigou proposed the first taxonomy of price discrimination practices in his book “Economics of Welfare” in 1920). The reason for this renewed interest is to be found in the continuously decreasing costs of processing data and in improved data algorithms, which allow firms to know much more about their consumers’ willingness to pay. These technological developments have four important consequences for the economic analysis of price discrimination. First, perfect price discrimination is no longer seen as a theoretical benchmark but as a true possibility. Second, as consumers care about their privacy and can act to protect it, they become strategic players, meaning that firms must factor in the consumers’ potential reactions when they choose their pricing strategy. Third, as more firms can easily collect and process data, a more careful examination of competitive price discrimination is called for. Finally, as data is the necessary input for price discrimination, it becomes a commodity, whose trade needs to be analyzed. The article by Alexandre de Cornière and Rodrigo Montes (Consumer Privacy and the Incentives to Price-Discriminate in Online Markets) contributes to the first two issues: it studies the interaction between a monopoly firm, which can (imperfectly) identify consumers’ willingness to pay, and consumers, who can prevent
在过去的十年里,数字化的进程已经对市场的运作产生了深远的影响,在不久的将来,它应该会带来更多有趣的变化。本期《数字化经济学》特刊精选了四篇文章,阐述了数字化对消费者和企业的各个方面的影响。在价格歧视这一概念被正式引入近一个世纪之后,对价格歧视的分析最近出现了一个新的、非常有趣的转折(庇古在1920年的《福利经济学》一书中首次提出了价格歧视的分类)。这种重新引起兴趣的原因在于数据处理成本的不断降低和数据算法的改进,这使得企业能够更多地了解消费者的支付意愿。这些技术发展对价格歧视的经济分析有四个重要影响。首先,完全价格歧视不再被视为理论基准,而是一种真实的可能性。其次,由于消费者关心自己的隐私,并能采取行动保护隐私,他们成为了战略参与者,这意味着企业在选择定价策略时必须考虑到消费者的潜在反应。第三,由于越来越多的公司可以轻松地收集和处理数据,因此需要对竞争性价格歧视进行更仔细的检查。最后,由于数据是价格歧视的必要输入,因此它成为一种商品,需要对其交易进行分析。Alexandre de cornires和Rodrigo Montes的文章(《在线市场中的消费者隐私和价格歧视动机》)对前两个问题做出了贡献:它研究了垄断公司(可以(不完全)识别消费者的支付意愿)和消费者(可以阻止)之间的相互作用
{"title":"Special Issue on “Economics of Digitization”","authors":"Paul Belleflamme, Alexandre de Cornière, Oliver Falck, A. Gautier","doi":"10.1515/rne-2018-0029","DOIUrl":"https://doi.org/10.1515/rne-2018-0029","url":null,"abstract":"The process of digitization has already had a profound impact on the functioning of the markets in the last decade, and it should bring even more interesting changes in the near future. This Special Issue on the Economics of Digitization includes four selected articles, which illustrate the implications of various aspects of digitization for consumers and firms. The analysis of price discrimination has recently taken a new – and very interesting – turn, almost one century after the concept was formally introduced (Pigou proposed the first taxonomy of price discrimination practices in his book “Economics of Welfare” in 1920). The reason for this renewed interest is to be found in the continuously decreasing costs of processing data and in improved data algorithms, which allow firms to know much more about their consumers’ willingness to pay. These technological developments have four important consequences for the economic analysis of price discrimination. First, perfect price discrimination is no longer seen as a theoretical benchmark but as a true possibility. Second, as consumers care about their privacy and can act to protect it, they become strategic players, meaning that firms must factor in the consumers’ potential reactions when they choose their pricing strategy. Third, as more firms can easily collect and process data, a more careful examination of competitive price discrimination is called for. Finally, as data is the necessary input for price discrimination, it becomes a commodity, whose trade needs to be analyzed. The article by Alexandre de Cornière and Rodrigo Montes (Consumer Privacy and the Incentives to Price-Discriminate in Online Markets) contributes to the first two issues: it studies the interaction between a monopoly firm, which can (imperfectly) identify consumers’ willingness to pay, and consumers, who can prevent","PeriodicalId":45659,"journal":{"name":"Review of Network Economics","volume":"89 1","pages":"239 - 241"},"PeriodicalIF":0.7,"publicationDate":"2017-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82409703","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Underappreciated Connection between Rail Restructuring Strategies and Financing 铁路重组战略与融资之间的关系未被充分认识
IF 0.7 4区 经济学 Q3 ECONOMICS Pub Date : 2017-06-26 DOI: 10.1515/rne-2017-0040
R. Pittman
Abstract The railways industry is a capital-intensive industry requiring very large initial and ongoing investment streams. Proposals to restructure the traditional state-owned monopoly railway in a particular country are often designed to address concerns not only regarding inefficient operations and monopoly stagnation but also the long-term unreliability of government financing, especially of the expensive infrastructure. In this regard, the connection between the particular rail restructuring strategy chosen by a country and the ability of the restructured entity to attract financing, especially private financing, merits a closer look.
铁路行业是一个资本密集型行业,需要非常大的初始和持续投资流。在某一特定国家,对传统国有垄断铁路进行重组的建议,往往不仅是为了解决运营效率低下和垄断停滞的问题,也是为了解决政府融资(尤其是昂贵的基础设施)长期不可靠的问题。在这方面,一个国家所选择的特定铁路改组战略与改组后的实体吸引资金,特别是私人资金的能力之间的联系值得仔细研究。
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引用次数: 4
Public and Private Provision of Railway Services: A Case Study from Slovakia 公共和私人提供铁路服务:斯洛伐克的案例研究
IF 0.7 4区 经济学 Q3 ECONOMICS Pub Date : 2017-06-26 DOI: 10.1515/rne-2017-0037
M. Jurikovič, Z. Tomes
Abstract This article analyses a case study of passenger rail transport in Slovakia when operation of a commuter line to the capital city was changed from a public operator to a private one. This change brought about significant changes in the organisation of services. The private operator RegioJet introduced new rolling stock, a regular and more frequent timetable, peak and off-peak pricing, and additional on-board services. The results were remarkable, with passenger ridership increasing by 156% in 3 years. The article aims to compare the performance of public and private operators on this line in order to identify the reasons for the increased ridership. A customer survey was conducted and passengers were asked questions about their former and present travel behaviour. Based on data from the survey, a logit model was estimated in order to identify the factors behind increased usage and satisfaction. The results indicate that all passengers most highly valued the speed and comfort of the rail services. The new passengers valued highly reliability and quality of the improved service. These factors appealed especially to women, students, and car owners who were newly attracted to rail commuting.
摘要本文分析了斯洛伐克客运铁路运输的一个案例研究,当运营到首都的通勤线从公共运营商变为私人运营商时。这一变化带来了服务组织的重大变化。私营运营商RegioJet引入了新的机车车辆、定期和更频繁的时刻表、高峰和非高峰定价以及额外的机上服务。结果是显著的,客运量在三年内增长了156%。本文旨在比较公共和私人运营商在这条线上的表现,以确定客流量增加的原因。我们进行了一项客户调查,向乘客询问他们过去和现在的旅行行为。根据调查的数据,估计了一个logit模型,以确定使用率和满意度增加背后的因素。结果表明,所有乘客最看重的是铁路服务的速度和舒适性。新乘客对改进后的服务的可靠性和质量评价很高。这些因素对女性、学生和有车的人尤其有吸引力,他们最近被铁路通勤所吸引。
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引用次数: 2
Rail Funding and Financing 铁路资金及融资
IF 0.7 4区 经济学 Q3 ECONOMICS Pub Date : 2017-06-26 DOI: 10.1515/rne-2017-0038
L. Casullo
Abstract Funding and financing arrangements for railway infrastructure in Europe are often perceived as complex and opaque. Given the large sums of public money involved, greater transparency on inputs and outputs is required. This paper aims to present an overview of rail infrastructure funding and financing in Europe based on recent evidence, and draws comparisons with the systems in the US and Japan. We also discuss a number of policy options to address the funding gap and ensure that European railways improve their financial viability and remain strong pillars of sustainable mobility in the future.
欧洲铁路基础设施的资金和融资安排通常被认为是复杂和不透明的。由于涉及大量公共资金,投入和产出需要更大的透明度。本文旨在根据最近的证据,概述欧洲铁路基础设施的融资情况,并与美国和日本的系统进行比较。我们还讨论了一些政策选择,以解决资金缺口,确保欧洲铁路提高其财务可行性,并在未来成为可持续流动性的强大支柱。
{"title":"Rail Funding and Financing","authors":"L. Casullo","doi":"10.1515/rne-2017-0038","DOIUrl":"https://doi.org/10.1515/rne-2017-0038","url":null,"abstract":"Abstract Funding and financing arrangements for railway infrastructure in Europe are often perceived as complex and opaque. Given the large sums of public money involved, greater transparency on inputs and outputs is required. This paper aims to present an overview of rail infrastructure funding and financing in Europe based on recent evidence, and draws comparisons with the systems in the US and Japan. We also discuss a number of policy options to address the funding gap and ensure that European railways improve their financial viability and remain strong pillars of sustainable mobility in the future.","PeriodicalId":45659,"journal":{"name":"Review of Network Economics","volume":"40 1","pages":"125 - 141"},"PeriodicalIF":0.7,"publicationDate":"2017-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77723218","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
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Review of Network Economics
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