Essays on Regulation, Institutions, and Industrial Organization PDF Download
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Author: Mario Esteban Bergara
Publisher:
ISBN:
Category :
Languages : en
Pages : 276
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Author: Mario Esteban Bergara
Publisher:
ISBN:
Category :
Languages : en
Pages : 276
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Author: Daniel Halbheer
Publisher:
ISBN:
Category :
Languages : en
Pages : 121
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Author: Mario Esteban Bergara
Publisher:
ISBN:
Category :
Languages : en
Pages : 312
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Author: Luís Martins-Barata Cabral
Publisher:
ISBN:
Category :
Languages : en
Pages : 210
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Author: Daniel Halbheer
Publisher:
ISBN:
Category :
Languages : en
Pages : 121
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Author: Juliane Fudickar
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Andrew W. Lo
Publisher: University of Chicago Press
ISBN: 0226488497
Category : Business & Economics
Languages : en
Pages : 390
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Book Description
The regulation of financial markets has for years been the domain of lawyers, legislators, and lobbyists. In this unique volume, experts in industrial organization, finance, and law, as well as members of regulatory agencies and the securities industry, examine the securities industry from an economic viewpoint. Ten original essays address topics including electronic trading and the "virtual"stock exchange; trading costs and liquidity on the London and Tokyo Stock Exchanges and in the German and Japanese government bond markets; international coordination among regulatory agencies; and the impact of changing margin requirements on stock prices, volatility, and liquidity. This clear presentation of groundbreaking research will appeal to economists, lawyers, and legislators who seek a refreshingly new perspective on policy issues in the securities industry.
Author: William E. Cole
Publisher: Springer Science & Business Media
ISBN: 9780792381914
Category : Business & Economics
Languages : en
Pages : 174
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Book Description
Technology, Innovation and Industrial Economics: Institutional Perspectives, inspired by the work of William E. Cole, Professor Emeritus at the University of Tennessee at Knoxville, extends his work with essays on technology, innovation and industrial economics from an Institutionalist perspective. The managerial style, innovational practices and industrial setting of the continuous improvement firm are central to several chapters. This volume also features innovation and technology in Latin America, Adam Smith's writing on entrepreneurship and a comparison of American and European Institutionalism. The topics of technology, innovation, industrial organization and industrial policy are being widely discussed and debated in today's literature, but seldom from an Institutionalist perspective. The purpose of this book is to reduce substantially this missing dimension in the ongoing debates on these important issues.
Author: Ivan Larsen
Publisher:
ISBN:
Category :
Languages : en
Pages : 276
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This dissertation addresses open questions in economics surrounding the industrial organization and regulation of recreational cannabis markets. The first chapter empirically studies how the impact of location restrictions on strategic cannabis retailers affects market outcomes and resident welfare. The second chapter provides a different method to measure the externality that cannabis retailers impose on heterogeneous residents and how it varies with different land-use policies. The third chapter investigates the presence of consumer demand response and inertia in vertical relationships among buyers and sellers in a new market. The first chapter studies the welfare impact of land-use regulations, such as location restrictions for businesses, which generally involves a trade-off between market growth and the harm on affected parties and is ultimately an empirical question. I study how location restrictions near sensitive-use areas affect recreational cannabis retailers' decisions in Washington State and their effects on residents, consumers, and taxation. Using property sales data, I first show reduced-form evidence that cannabis retailers act as a disamenity when close to homes and to their assigned schools. Then, I develop a structural model of consumer demand and firm entry and location and estimate it on a comprehensive dataset of retail sales and inventory transfers. The model incorporates the various market regulations as constraints on the firms’ strategic decisions. I use the estimated model to conduct counterfactual land-use policies. Relaxing buffers around sensitive-use areas, like schools, from 1000 ft down to 100 ft benefits consumers and harms residents but, on net, results in welfare and tax revenue improvements. The second chapter is a more in-depth study of the other side of the coin, resident disamenities of cannabis retailers, where I develop a discrete-choice, static model of housing demand and supply, and estimate it with property sales and mortgage applicants data from King County, Washington. By allowing for heterogeneous households, I can incorporate the role of cannabis retailers as a potential (dis)amenity to households. I then compute the welfare impact of various alternative location configurations for retailers that arise from the counterfactual land use policies studied in \cite{Larsen2020a}. I find that resident surplus decreases on average but that the valuation for cannabis retailers is heterogeneous, with residents with children being the main demographic negatively affected. Lastly, the third chapter studies the supply chain of the market to understand the factors that make-or-break vertical relationships and how a market matures. The third paper uses a rich dataset of inventory transfers for the Washington State recreational cannabis industry to assemble a novel dataset of vertical relationships between producers and retailers starting from the market’s inception. In the early stages of the market, I find substantial structural state dependence within vertical relationships, suggesting firms are reluctant to sever their existing business links due to poorly performing products and serves as a cautionary tale against making assumptions about firms when not in equilibrium. As the market reaches an equilibrium, product performance becomes the leading factor for producer-retailer matching. A theoretical model of consumer demand and link formation is provided to rationalize these findings
Author: Yu Ding
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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In Chapter 1, I empirically quantify how competition and price regulation affect dialysis clinics' incentives to provide high-quality treatment. I first document improvement of medical quality following two concurrently implemented nationwide policies, and then examine the effects of two separate channels --- competition and price regulation. The two policies implemented are: (1) mandated information disclosure on medical quality through in-center posters; (2) a new price regulation, pay-for-performance payment method, which monetarily punished substandard clinical performance. In a counterfactual where quality competition is shut down, there is a 30% decrease in mean quality compared to when quality competition and pay-for-performance payment are both present, which is evidence that competition is important in driving medical quality. In Chapter 2, I empirically examine how Common Application (CAPP), a platform that standardizes college applications and reduces time cost of additional applications, affects students' applications and colleges' prices. I find that students send out 0.56 (17%) more applications when flagship public universities in their states adopt CAPP and an increase of 10 percentage points in within-state CAPP adoption rate decreases prices of private universities by 9.4%.
