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The effects of LCC subsidies on the tourism industry 低成本航空公司补贴对旅游业的影响
IF 1.4 3区 经济学 Q2 ECONOMICS Pub Date : 2025-11-30 DOI: 10.1016/j.ijindorg.2025.103242
Christian Bontemps , Gianmaria Martini , Flavio Porta
This paper studies the relationship between aviation, tourist flows, and subsidies to Low–Cost Carriers (LCCs), a policy tool used by many national and local governments to stimulate tourist arrivals. To evaluate this policy’s impact, we estimate a two–stage empirical model. In the first stage, we estimate a structural model applied to air transport; in the second stage, we estimate the link between passenger flows and regional tourism flows. In this way, we use exogenous aviation shocks (subsidies to LCCs) to analyze the causal effect on tourist arrivals. This model is estimated using data on aviation and tourist flows from European to Italian regions during 2016–2018. Counterfactual analyses consider different regimes for implementing the policy, i.e., a subsidy adopted by a benevolent central planner and/or by sub–national institutions. Our simulations show that subsidies to LCCs are effective in stimulating tourism and that a centralized regime is more effective than a decentralized one. In fact, the latter generates externalities in regions that do not implement the subsidy, making the decentralized policy economically suboptimal.
本文研究了航空、旅游流量和低成本航空公司(lcc)补贴之间的关系,这是许多国家和地方政府用来刺激游客入境的政策工具。为了评估这一政策的影响,我们估计了一个两阶段的实证模型。在第一阶段,我们估计了一个适用于航空运输的结构模型;第二阶段,对客流与区域旅游流之间的联系进行估计。因此,我们使用外生航空冲击(对低成本航空公司的补贴)来分析对游客到达的因果影响。该模型是根据2016-2018年期间从欧洲到意大利地区的航空和游客流量数据估算的。反事实分析考虑了实施政策的不同制度,即仁慈的中央计划者和/或地方机构采用的补贴。我们的模拟表明,对低成本旅游公司的补贴在刺激旅游业方面是有效的,而且集中式制度比分散式制度更有效。事实上,后者在不实施补贴的地区产生了外部性,使得分散政策在经济上不是最优的。
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引用次数: 0
Is the pursuit of a competition-friendly industrial policy desirable? Evidence from Korea's post-Asian Financial Crisis policy shift 追求有利于竞争的产业政策是否可取?亚洲金融危机后韩国政策转变的证据
IF 1.4 3区 经济学 Q2 ECONOMICS Pub Date : 2025-11-29 DOI: 10.1016/j.ijindorg.2025.103233
Namhoon Kwon , Minsoo Park , Won Sung
This paper evaluates the outcomes of Korea's post-Asian Financial Crisis shift toward competition-friendly industrial policy. In the wake of the 1997 crisis, Korea moved from a strategy of cultivating national champions toward reforms that emphasize market competition, but the efficacy of this approach remains disputed. Using a unique firm-level panel dataset from 2008–2023, we employ a granular bank lending shock identification strategy to isolate the causal impact of policy-directed credit on firm performance. Specifically, we examine how exogenous variations in policy-directed credit influence a firm’s physical investment, R&D expenditure, and total factor productivity (TFP), with industry market concentration as a moderating factor. The results indicate that increased policy-directed credit does not translate into consistent improvements in investment, innovation, or productivity at the firm level. However, its effects are significantly stronger in industries characterized by higher market concentration and export intensity. The evidence also suggests that innovative small firms in these industries exhibit stronger policy effects. These findings call into question the universal desirability of competition-friendly industrial policies. For trade-driven economies like Korea, policy intervention tends to be more effective when it incorporates consideration of industry-specific competitiveness in global markets and the realization of economies of scale. This paper provides nuanced insights and contributes new evidence to the literature on industrial policy and competition.
本文评估了韩国在亚洲金融危机后转向竞争友好型产业政策的结果。在1997年金融危机之后,韩国从培育国家冠军企业的战略转向了强调市场竞争的改革,但这种方法的有效性仍然存在争议。利用2008年至2023年的独特的企业层面面板数据集,我们采用了一种细粒度的银行贷款冲击识别策略,以分离政策导向信贷对企业绩效的因果影响。具体而言,我们考察了政策导向信贷的外生变化如何影响企业的实物投资、研发支出和全要素生产率(TFP),其中行业市场集中度是一个调节因素。结果表明,政策导向信贷的增加并没有转化为企业层面上投资、创新或生产率的持续改善。但在市场集中度和出口强度较高的行业,其效应明显更强。证据还表明,这些行业的创新型小企业表现出更强的政策效应。这些研究结果对竞争友好型产业政策的普遍可取性提出了质疑。对于像韩国这样的贸易驱动型经济体,当政策干预考虑到行业在全球市场上的特定竞争力并实现规模经济时,往往会更有效。本文提供了细致入微的见解,并为产业政策和竞争的文献提供了新的证据。
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引用次数: 0
Public procurement cartels: A large-sample testing of screens using machine learning 公共采购卡特尔:使用机器学习对屏幕进行大样本测试
IF 1.4 3区 经济学 Q2 ECONOMICS Pub Date : 2025-11-25 DOI: 10.1016/j.ijindorg.2025.103228
Mihály Fazekas , Bence Tóth , Johannes Wachs , Aly Abdou
Due to the high budgetary costs of public procurement cartels, it is crucial to measure and understand them. The literature developed screens that work well for selected cartel types and with high quality data, but it didn’t produce generalisable knowledge supporting policy and law enforcement on typically available datasets. We simultaneously measure multiple cartel behaviours on publicly available data of 73 cartels from 7 European countries covering 2004–2021. We apply machine learning methods, using diverse cartel screens characterising pricing and bidding behaviours in a predictive model. Combining many indicators in a random forest algorithm achieves 70–84 % prediction accuracy, distinguishing behavioural traces of confirmed cartels from non-cartels across different cartel types and countries (accuracy is 97 % when trained and tested on a single cartel case, typical of the literature). Most screens contribute to prediction in line with theory. These results could improve cartel detection and investigations and support pro-competition policies.
由于公共采购卡特尔的高预算成本,衡量和了解它们至关重要。这些文献开发的筛选方法适用于选定的卡特尔类型和高质量的数据,但它并没有在通常可用的数据集上产生支持政策和执法的一般知识。我们同时根据2004-2021年期间来自7个欧洲国家的73个卡特尔的公开数据衡量多个卡特尔的行为。我们应用机器学习方法,在预测模型中使用不同的卡特尔屏幕来表征定价和投标行为。在随机森林算法中结合许多指标,预测准确率达到70 - 84%,区分了不同卡特尔类型和国家中已确认的卡特尔与非卡特尔的行为痕迹(在单一卡特尔案例中进行培训和测试时,准确率为97%,这是文献中的典型案例)。大多数屏幕有助于与理论相符的预测。这些结果可以改善卡特尔的侦查和调查,并支持支持竞争的政策。
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引用次数: 0
Patents and the choice of research projects 专利和研究项目的选择
IF 1.4 3区 经济学 Q2 ECONOMICS Pub Date : 2025-11-22 DOI: 10.1016/j.ijindorg.2025.103227
Narumi Teshima
This paper examines how patent strength affects R&D competition in a model where two symmetric firms simultaneously choose their research projects. A stronger patent system induces not only greater R&D investment but also more research duplication. It is shown that there exists a range of patent strength in which increasing patent strength discourages innovation. Moreover, as firms behave more collusively in the post-innovation market, the strongest patent system becomes less likely to maximize the probability of innovation.
本文在两个对称企业同时选择研究项目的模型中考察了专利强度对研发竞争的影响。强有力的专利制度不仅会带来更多的研发投资,还会导致更多的重复研究。研究表明,在一定的专利强度范围内,专利强度的增加会阻碍创新。此外,当企业在后创新市场中表现得更加合谋时,最强的专利制度就不太可能最大化创新的可能性。
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引用次数: 0
Generic entry, price competition, and market segmentation in the prescription drug market – a comment 处方药市场中的仿制药进入、价格竞争和市场细分——评论
IF 1.4 3区 经济学 Q2 ECONOMICS Pub Date : 2025-11-20 DOI: 10.1016/j.ijindorg.2025.103218
Izabela Jelovac
In this note, we revise the theoretical condition in Regan (2008) under which the price of brand-name drugs increases with the number of generic competitors—a phenomenon known as the generic paradox. We show that this condition derives from the analysis of an interior solution while it actually excludes the existence of an interior solution. Therefore, the theoretical result in Regan (2008) arises from an internal inconsistency.
在本文中,我们修正了Regan(2008)的理论条件,即品牌药的价格随着仿制药竞争对手数量的增加而增加,这种现象被称为仿制药悖论。我们证明了这个条件是由内部解的分析得出的,而它实际上排除了内部解的存在。因此,Regan(2008)的理论结果源于内部不一致。
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引用次数: 0
Growing bigger or becoming stronger: A response of downstream manufacturing firms to the coal price shock 做大还是做强:下游制造业企业对煤炭价格冲击的回应
IF 1.4 3区 经济学 Q2 ECONOMICS Pub Date : 2025-11-19 DOI: 10.1016/j.ijindorg.2025.103220
Yaru Hou , Panbing Wan , Mian Yang
Fluctuations in energy prices bring about broad implications for the welfare of microeconomic entities. This paper examines the impacts of coal price shock on the performance of downstream coal-dependent manufacturing firms using an exogenous price shock induced by China’s Cleaner Production Standard for the Coal Mining and Processing Industry (CPSC) in 2008. The findings reveal a significant increase in the revenues of manufacturing firms subjected to the rise of coal price. Mechanism analysis shows that incumbent firms primarily enhance their revenues by expanding market share and increasing production, rather than fostering innovation and raising prices. This implies growing bigger rather than becoming stronger might be the main strategy for manufacturing firms to cope with the coal price shock. Further analysis indicates that the increase in revenues nearly offset the increase in energy costs, resulting in no significant change in profits. Additionally, this study finds that manufacturing firms can also mitigate cost increases by adjusting their energy structures, but there is no evidence that advancements in energy-saving technologies achieve the same effect. Our findings highlight the various ways in which manufacturing firms respond to energy price shocks.
能源价格波动对微观经济实体的福利产生广泛影响。本文利用2008年中国《煤炭开采与加工业清洁生产标准》(CPSC)引发的外生价格冲击,考察了煤炭价格冲击对下游依赖煤炭的制造业企业绩效的影响。研究结果显示,煤炭价格上涨对制造业企业收入的影响显著增加。机制分析表明,现有企业主要通过扩大市场份额和增加产量来增加收入,而不是通过促进创新和提高价格来增加收入。这意味着制造企业应对煤炭价格冲击的主要策略可能是做大而不是做强。进一步分析表明,收入的增加几乎抵消了能源成本的增加,导致利润没有显著变化。此外,本研究发现制造企业也可以通过调整其能源结构来缓解成本增加,但没有证据表明节能技术的进步也能达到同样的效果。我们的研究结果强调了制造企业应对能源价格冲击的各种方式。
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引用次数: 0
Information disclosure and information acquisition in credit markets 信贷市场中的信息披露与信息获取
IF 1.4 3区 经济学 Q2 ECONOMICS Pub Date : 2025-11-19 DOI: 10.1016/j.ijindorg.2025.103219
Peter Eccles, Paolo Siciliani
We study how information about prior loan applications shapes competition in credit markets. We examine whether credit registers should record applications that did not lead to origination. This design choice has subtle implications when the failed or withdrawn application was submitted to a lender known for superior screening technology. We show that disclosing past applications lowers the rates offered to borrowers relative to a regime without disclosure, but it also weakens lenders' incentives to invest in advanced screening technologies.
我们研究有关先前贷款申请的信息如何影响信贷市场的竞争。我们审查信用登记是否应该记录没有导致发起的申请。当将失败或撤回的申请提交给以卓越筛选技术而闻名的贷方时,这种设计选择具有微妙的含义。我们表明,与不披露的制度相比,披露过去的申请降低了向借款人提供的利率,但它也削弱了贷款人投资先进筛选技术的动力。
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引用次数: 0
Information disclosure in expert's market with diagnostic uncertainty 具有诊断不确定性的专家市场信息披露
IF 1.4 3区 经济学 Q2 ECONOMICS Pub Date : 2025-11-13 DOI: 10.1016/j.ijindorg.2025.103210
Lin Zhao
This paper examines a market where consumers rely on the diagnostic skills of the expert to make purchasing decisions while uncertain about the expert's skill levels. Low-skilled expert may diagnose a serious problem to be minor. Imperfect information can incentivize the low-skilled expert to overtreat consumers by recommending more costly treatments than their diagnoses warrant. We find that the frequency of overtreatment can be non-monotonic in market beliefs regarding diagnostic skill. Information disclosure regarding expert's ability can improve social welfare. Optimal amount of information disclosure can exhibit a non-monotonic relationship with the low-skilled expert's diagnosing precision: Perfect disclosure is optimal when the low-skilled expert's diagnostic errors occur either very frequently or very rarely. However, partial disclosure may be optimal in intermediate cases. Our findings remain robust when the low-skilled expert symmetrically misdiagnoses minor and serious problems.
本文考察了一个消费者依赖专家的诊断技能来做出购买决策,而不确定专家的技能水平的市场。低技能的专家可能会把严重的问题诊断为小问题。不完善的信息可以激励低技能的专家通过推荐比他们的诊断更昂贵的治疗来过度治疗消费者。我们发现,过度治疗的频率可以是非单调的,在市场信念关于诊断技能。关于专家能力的信息披露可以改善社会福利。最优的信息披露量与低技能专家的诊断精度呈非单调关系:当低技能专家的诊断错误发生得非常频繁或很少时,完美的信息披露是最优的。然而,在中间情况下,部分披露可能是最佳的。当低技能的专家对称误诊轻微和严重的问题时,我们的发现仍然是强有力的。
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引用次数: 0
Mergers and unionization: Roll together or clash? 合并和工会化:共同前进还是冲突?
IF 1.4 3区 经济学 Q2 ECONOMICS Pub Date : 2025-11-13 DOI: 10.1016/j.ijindorg.2025.103209
Qi Ge , Donggeun Kim , Myongjin Kim , Jangsu Yoon
This paper explores the interplay between mergers and unionism and disentangles their product market impacts by analyzing concurrent merger and unionization episodes in the U.S. airline industry. We find that unionization alone reduces service quality and increases airfare, while a concurrent merger mitigates the negative quality impact and lowers airfare. The interaction effects between mergers and unionization are non-monotonic and time-varying and may improve consumer surplus in the long run. Our theoretical framework accounts for the lengthy merger process and provides a potential explanation. Our findings present a novel perspective on reconciling previous merger studies and offer important policy implications.
本文通过对美国航空业合并和工会化事件的分析,探讨了合并和工会化之间的相互作用,并理清了它们对产品市场的影响。我们发现,单独的工会化会降低服务质量并提高机票价格,而同时的合并会减轻质量的负面影响并降低机票价格。并购与工会化之间的交互作用具有非单调性和时变性,从长期来看可以提高消费者剩余。我们的理论框架解释了漫长的合并过程,并提供了一个潜在的解释。我们的研究结果为调和以往的并购研究提供了一个新的视角,并提供了重要的政策启示。
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引用次数: 0
Consumer search costs and the provision of service quality 消费者搜索成本与提供的服务质量
IF 1.4 3区 经济学 Q2 ECONOMICS Pub Date : 2025-11-07 DOI: 10.1016/j.ijindorg.2025.103208
José L. Moraga-González , Yajie Sun
In many markets for services, such as financial advice, interior decoration or garden design, service providers incur costly efforts to make attractive offers to their clients, while consumers diligently search until they find a service plan that meets their needs. This paper studies the provision of service quality in such markets. With higher search costs, the gains to the service providers from exerting themselves increase and in equilibrium the market offers more high-quality services. Despite this beneficial aspect of higher search costs, consumer surplus is lower due to higher frictions and the implied higher prices. From the collective viewpoint of the firms, there is too much effort put in the market to increase service quality; from the standpoint of consumers, firms invest too little in service quality. On welfare grounds, the market over-provides service quality when the cost of service effort is low, while it under-provides service quality when the effort cost is high.
在许多服务市场,如金融咨询、室内装饰或花园设计,服务提供商花费大量精力向客户提供有吸引力的服务,而消费者则孜孜不倦地寻找,直到找到满足他们需求的服务计划。本文研究了此类市场中服务质量的提供。随着搜索成本的增加,服务提供者通过努力获得的收益也会增加,在均衡状态下,市场会提供更多的高质量服务。尽管更高的搜索成本有这方面的好处,但由于更高的摩擦和隐含的更高的价格,消费者剩余会降低。从企业的集体观点来看,市场在提高服务质量方面投入了太多的努力;从消费者的角度来看,公司在服务质量上投资太少。从福利角度看,当服务努力成本较低时,市场会过度提供服务质量,而当服务努力成本较高时,市场会提供不足的服务质量。
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引用次数: 0
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International Journal of Industrial Organization
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