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Author: Astrid Andrea Dick
Publisher:
ISBN:
Category :
Languages : en
Pages : 173
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Book Description
(Cont.) Chapter 3, co-authored with Erik Brynjolfsson and Michael D. Smith, applies a flexible demand model to examine heterogeneous consumer behavior and estimate search benefits and costs across consumers types, based on a unique data set obtained from a major U.S.-based online shopbot. Consumer benefits to search are estimated using a compensating variations approach, by comparing the welfare generated by the first set of offers shown to the consumer in the default screen, and that generated by the entire set of offers. The benefits to searching lower screens are $1.65 for the median consumer, and the cost of carrying an exhaustive search of the offers is a maximum of $1.40 for the median consumer that chooses to search lower screens.
Author: Astrid Andrea Dick
Publisher:
ISBN:
Category :
Languages : en
Pages : 173
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Book Description
(Cont.) Chapter 3, co-authored with Erik Brynjolfsson and Michael D. Smith, applies a flexible demand model to examine heterogeneous consumer behavior and estimate search benefits and costs across consumers types, based on a unique data set obtained from a major U.S.-based online shopbot. Consumer benefits to search are estimated using a compensating variations approach, by comparing the welfare generated by the first set of offers shown to the consumer in the default screen, and that generated by the entire set of offers. The benefits to searching lower screens are $1.65 for the median consumer, and the cost of carrying an exhaustive search of the offers is a maximum of $1.40 for the median consumer that chooses to search lower screens.
Author: Andy Wei-Rong Chen
Publisher:
ISBN:
Category :
Languages : en
Pages : 65
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Book Description
The two essays explore two topics in marketing - consumer purchase behavior and competitive firm strategies. The first essay examines consumer stockpiling behavior in the retail gasoline market and aims to shed light on what factors affect consumer stockpiling. Past research on consumer stockpiling behavior such as Hendel and Nevo (2006) finds evidence of inter-temporal substitution by consumers that implies stockpiling behavior. However, they do not observe actual inventory or consumption and have to rely on simplifying assumptions about these quantities. I collect a novel data set of gasoline purchase history of consumers with actual inventory and consumption to test several hypotheses that relate consumer stockpiling to price, duration between purchases, and consumption. First, I find that consumers holding more inventory are more price sensitive. Higher inventory increases the impact of price on purchase decisions and those with higher inventory can afford to do more price search before making a purchase. I also find that all else equal, consumers will reduce consumption following a purchase made during high prices; that consumers with lower inventory have a higher probability of purchasing; and that duration from previous purchase is shorter for purchases made during low prices and longer during high prices. The second essay examines competition in a dynamic setting between Wal-Mart and Target in the context of location choices and expansion strategies. Studying this topic sheds light on how an industry evolves and how the market structure is shaped by decisions such as when to enter and exit and where to locate new stores as well as the driving force behind different expansion strategies. One of the early papers by Bresnahan and Reiss (1991) study entry of retail and professional services into isolated markets in a one-shot game. In their model, firms are allowed to enter once and open one store. Collard-Wexler (2014) estimates a model of investment and entry in the ready-mix concrete industry. Again, each firm is assumed to own a single plant in the model. In my paper, I build a structural model in which firms can open multiple stores over a period of time. This setting is closer to reality as competition between firms lasts over many periods with firms making regular entry decisions and often opening multiple stores in the same market. I estimate how entry decisions are affected by competitor's presence and market characteristics and learn about the evolution of market structure and expansion strategies of the firms. The firms are forward-looking and engage in Markov perfect equilibrium (MPE) strategies. The results show that firm profits are affected asymmetrically by the competitor's presence. First, Wal-Mart is the dominant firm with higher profits regardless of Target's presence. On the other hand, Target's profits depend a lot on Wal-Mart's presence. It must have more stores than Wal-Mart (called store advantage) to profit. I also find asymmetry in the expansion strategies of the two firms. Wal-Mart tends to explore new and smaller markets by being the first and often the only firm to enter, while Target tends to focus on major markets with high population and GDP and strives to maintain store advantage over Wal-Mart by matching or outdoing Wal-Mart's decision to open new stores.
Author: Alexei Parakhonyak
Publisher: Rozenberg Publishers
ISBN: 9036101786
Category :
Languages : en
Pages : 139
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Book Description
Author: Robert E. Kuenne
Publisher: New York : Wiley
ISBN:
Category : CHAMBERLIN, EDWARD,1899- . THE THEORY OF MONOPOLISTIC COMPETITION
Languages : en
Pages : 408
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Book Description
Author: Michalis Zaouras
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Almarin Phillips
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 284
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Book Description
No detailed description available for "Market Structure, Organization, and Performance".
Author: Bin Li
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages :
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Book Description
With the increasing popularity of the online channel, both consumers and firms are engaging in more and more multi-channel activities. On the one hand, consumers can integrate information from searches on both online and offline channels, and then decide on the best channel to buy from. On the other hand, firms need to consider consumer behavior in different channels in their strategy design. As a result, cross-channel interactions between consumer behavior and firm strategy can be within the same channel or across different channels. While the within-channel interaction has been studied extensively in the previous literature, there is much less research on the cross-channel interaction. In my dissertation, I add to the understanding of consumer behavior and firm strategy in the multi-channel environment by empirically analyzing their cross-channel interactions. This dissertation consists of three separate but related essays. The first answers the question: How does consumer behavior affect optimal product portfolio strategies in online versus offline channels? I develop an empirical model to simultaneously identify the cannibalization effect (within a brand) and the competition effect (between different brands) in different retail channels. I further examine how these effects are affected by consumer preferences. The second essay answers the question: How does a firm’s offline strategy affect consumer online behavior? I use a natural experiment to examine how the awareness and convenience effects from opening new retail stores affect the online search. The final essay answers the question: How does online banking affect entry/exit of offline bank branches? I develop and estimate a dynamic entry/exit model examining the relationship between technological advances and market structure evolution. My counterfactual analysis shows that the asymmetric reduction in operating costs is the most significant factor driving recent changes in the U.S. banking industry, followed by increased entry costs and increased deposits for large banks due to greater online presence. My findings provide important implications for firms engaging in multi-channel activities.
Author: Nicolas Wellmann
Publisher:
ISBN:
Category : Competition
Languages : en
Pages :
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Author: Feng Ruan
Publisher:
ISBN:
Category :
Languages : en
Pages : 87
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Author: Bernal Jimenez
Publisher:
ISBN:
Category :
Languages : en
Pages : 348
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