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Economics at the FTC: Spatial Demand, Veterinary Hospital Mergers, Rulemaking, and Noncompete Agreements 联邦贸易委员会经济学:空间需求、兽医医院合并、规则制定和竞业禁止协议
IF 1.1 4区 经济学 Q3 ECONOMICS Pub Date : 2023-11-23 DOI: 10.1007/s11151-023-09930-0
Abigail Ferguson, Nellie Lew, Michael Lipsitz, Devesh Raval

The U.S. Federal Trade Commission enforces federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices, and works to advance government policies that protect consumers and promote competition. The FTC’s Bureau of Economics performs economic analysis to support both the enforcement and policy activities of the Commission. This article discusses several examples of these activities. We first discuss some work our economists have done on spatial considerations in demand estimation, and then present an analytical approach that has been developed to assess consumer choice between service providers with the use of data on geographic variation in the location of the customers of two merging service providers. We apply this technique in the context of the analysis of the competitive effects of a merger of veterinary hospitals. Next, we discuss an important tool in the FTC’s arsenal: rulemaking. We describe the benefits and costs of rulemaking, the rulemaking process, and the role of economic analysis in that process, and then highlight recent FTC rulemaking activities and the economic analysis of a proposed rulemaking that would ban employers from imposing non-compete clauses in employment contracts.

美国联邦贸易委员会执行联邦竞争和消费者保护法,防止反竞争、欺骗和不公平的商业行为,并努力推进保护消费者和促进竞争的政府政策。联邦贸易委员会的经济局进行经济分析,以支持委员会的执法和政策活动。本文讨论了这些活动的几个示例。我们首先讨论了我们的经济学家在需求估计中的空间考虑方面所做的一些工作,然后提出了一种分析方法,该方法通过使用两个合并服务提供商的客户位置的地理变化数据来评估消费者在服务提供商之间的选择。我们在兽医院合并的竞争影响分析的背景下应用这一技术。接下来,我们讨论联邦贸易委员会武器库中的一个重要工具:规则制定。我们描述了规则制定的收益和成本、规则制定过程以及经济分析在该过程中的作用,然后重点介绍了最近联邦贸易委员会的规则制定活动以及对拟议规则制定的经济分析,该规则制定将禁止雇主在雇佣合同中强加非竞争条款。
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引用次数: 0
Local Competition, Multimarket Contact, and Product Quality: Evidence From Internet Service Provision 本地竞争、多市场接触与产品质量:来自互联网服务提供的证据
IF 1.1 4区 经济学 Q3 ECONOMICS Pub Date : 2023-11-17 DOI: 10.1007/s11151-023-09928-8
Kyle Wilson

I investigate the effect of competition on quality in the internet service provision industry: I examine both local competition within markets and multimarket contact among firms across markets. This industry offers an ideal setting, as quality is both objective and measurable. I use data from speedtest.net from 2008 to 2014 to estimate a reduced-form model of the effects of local competition and multimarket contact on realized consumer download speeds. I find that increased multimarket contact leads to decreased download speeds, which is consistent with the mutual forbearance hypothesis. I also find that duopolies lead to faster download speeds than do monopolies, but that further increases in the number of competitors decrease speeds.

我研究了竞争对互联网服务提供行业质量的影响:我研究了市场内的本地竞争和跨市场公司之间的多市场联系。这个行业提供了一个理想的环境,因为质量既客观又可衡量。我使用speedtest.net从2008年到2014年的数据来估计本地竞争和多市场接触对实现消费者下载速度影响的简化模型。我发现增加的多市场接触会导致下载速度下降,这与相互容忍假设是一致的。我还发现,双寡头垄断比垄断带来更快的下载速度,但竞争对手数量的进一步增加会降低速度。
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引用次数: 3
Separating Vertical from Horizontal Differentiation 从水平分化中分离垂直分化
IF 1.1 4区 经济学 Q3 ECONOMICS Pub Date : 2023-11-17 DOI: 10.1007/s11151-023-09924-y
Ricardo D. Brito, Eduardo Correia de Souza, Rodrigo Moita

We demonstrate that R&D intensity is an appropriate measure of vertical differentiation, while the Rauch (J Int Econ 48:7–35, 1999) classification mainly captures horizontal differentiation. Product market characteristics vary considerably across R&D intensity-based “technology levels” of the OECD-STI taxonomy, as well as across categories of the Rauch classification. Both high technology and differentiated products display lower price elasticity of demand and longer quality ladders than do low technology and homogeneous products. However, variety proliferation decreases with the technology level and increases with the Rauch category, while price dispersion increases with technology but not with the Rauch. Additionally, Rauch categories do not differ in factor intensities, while higher tech industries are more capital intensive than lower tech ones.

我们证明研发强度是垂直分化的适当衡量标准,而Rauch (J Int Econ 48:7-35, 1999)分类主要捕捉水平分化。产品市场特征在OECD-STI分类中基于研发强度的“技术水平”之间以及Rauch分类的不同类别之间差异很大。高技术和差异化产品都比低技术和同质化产品表现出更低的需求价格弹性和更长的质量阶梯。品种扩散随技术水平而降低,随劳赫类别而增加;价格分散随技术水平而增加,但不随劳赫类别而增加。此外,Rauch分类在要素强度上没有差异,而高技术产业比低技术产业的资本密集程度更高。
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引用次数: 0
Public Communication as a Mechanism for Collusion in the Broiler Industry 公共传播作为肉鸡行业合谋的机制
4区 经济学 Q3 ECONOMICS Pub Date : 2023-11-11 DOI: 10.1007/s11151-023-09929-7
Qiwen Sheng, Tomislav Vukina
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引用次数: 0
Introduction: The Industrial Organization of Food and Agriculture 简介:粮食和农业工业组织
4区 经济学 Q3 ECONOMICS Pub Date : 2023-11-05 DOI: 10.1007/s11151-023-09927-9
James M. MacDonald
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引用次数: 0
Product Market Cooperation, Foreign Direct Investment and Consumer Welfare 产品市场合作、外国直接投资和消费者福利
4区 经济学 Q3 ECONOMICS Pub Date : 2023-11-01 DOI: 10.1007/s11151-023-09925-x
Arijit Mukherjee, Uday Bhanu Sinha
Abstract Cooperation among rival firms raises serious skepticism among economists, policymakers, and legal experts, since it generally hurts consumers. We show that this may not be the case in an open economy with strategic foreign direct investment (FDI). Under Cournot competition, increased cooperation among firms reduces the domestic welfare, but it may benefit the consumers by attracting FDI. Under Bertrand competition with differentiated goods, increased cooperation may increase consumer surplus, and it may increase or decrease the domestic welfare by attracting FDI.
竞争对手之间的合作引起了经济学家、政策制定者和法律专家的严重怀疑,因为它通常会伤害消费者。我们表明,在具有战略外国直接投资(FDI)的开放经济中,情况可能并非如此。在古诺竞争下,企业间合作的增加减少了国内福利,但它可以通过吸引外国直接投资而使消费者受益。在与差异化商品的Bertrand竞争下,合作的增加会增加消费者剩余,并通过吸引FDI增加或减少国内福利。
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引用次数: 0
Retail Markups and Discount-Store Entry 零售加价和折扣店进入
4区 经济学 Q3 ECONOMICS Pub Date : 2023-10-20 DOI: 10.1007/s11151-023-09926-w
Lauren Chenarides, Miguel I. Gómez, Timothy J. Richards, Koichi Yonezawa
Abstract “Hard discounters” are retail formats that set retail food prices even lower than existing discount formats, such as Walmart and Target. Offering limited assortments and focusing on store-brands, these formats promise to change the competitive landscape of food retailing. In this paper, we study the effect of entry of one hard-discount format on markups earned by existing retail stores, focusing on several important grocery markets across the Eastern U.S. Focusing on establishment-level profitability, we estimate store-level markups using the production-side approach of De Loecker and Warzynski (Am Econ Rev 102(6):2437–2471). We find that hard-discounter entry reduced markups for incumbment retailers by 7.3% relative to markups in non-entry markets. These results indicate that the net effect of hard-discounter entry reduces the overall level of store profitability—despite the somewhat higher sales realized by incumbent retailers.
“硬折扣店”是指将零售食品价格设定得比沃尔玛和塔吉特等现有折扣形式更低的零售业态。这些模式提供有限的品种,专注于商店品牌,有望改变食品零售业的竞争格局。在本文中,我们研究了一种硬折扣形式的进入对现有零售商店赚取的加成的影响,重点关注美国东部几个重要的杂货市场。关注建立级盈利能力,我们使用De Loecker和Warzynski (Am Econ Rev 102(6): 2437-2471)的生产侧方法估计商店级加成。我们发现,相对于非进入市场,硬折扣进入使现有零售商的利润率降低了7.3%。这些结果表明,硬折扣进入的净效应降低了商店的整体盈利水平——尽管现有零售商实现了更高的销售额。
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引用次数: 1
Consolidation and Concentration in U.S. Meat Processing: Updated Measures Using Plant-Level Data 美国肉类加工的整合和集中:使用工厂级数据的最新措施
4区 经济学 Q3 ECONOMICS Pub Date : 2023-10-05 DOI: 10.1007/s11151-023-09923-z
Tina L. Saitone, K. Aleks Schaefer, Daniel Scheitrum, Shawn Arita, Vince Breneman, Rebecca Nemec Boehm, Josh G. Maples
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引用次数: 1
How do Everyday-Low-Price Supermarkets Adjust Their Prices? 日常低价超市如何调整价格?
4区 经济学 Q3 ECONOMICS Pub Date : 2023-10-04 DOI: 10.1007/s11151-023-09922-0
Guojun He, Jeffrey T. LaFrance, Jeffrey M. Perloff, Richard Volpe
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引用次数: 1
Food Origin Labeling and “Promoting Competition” 食物来源标签与“促进竞争”
4区 经济学 Q3 ECONOMICS Pub Date : 2023-09-28 DOI: 10.1007/s11151-023-09918-w
Jason Winfree
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引用次数: 0
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Review of Industrial Organization
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