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Author: John Sutton Publisher: MIT Press ISBN: 9780262193054 Category : Business & Economics Languages : en Pages : 600
Book Description
Sunk Costs and Market Structure bridges the gap between the new generation of game theoretic models that has dominated the industrial organization literature over the past ten years and the traditional empirical agenda of the subject as embodied in the structure-conduct-performance paradigm developed by Joe S. Bain and his successors.
Author: John Sutton Publisher: MIT Press ISBN: 9780262193054 Category : Business & Economics Languages : en Pages : 600
Book Description
Sunk Costs and Market Structure bridges the gap between the new generation of game theoretic models that has dominated the industrial organization literature over the past ten years and the traditional empirical agenda of the subject as embodied in the structure-conduct-performance paradigm developed by Joe S. Bain and his successors.
Author: Howard W. Smith Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
While online consumers are less concerned than traditional consumers about firm location, they may be more concerned about unobservable quality and, to signal this, online retailers rely more on advertising than traditional retailers. Imperfect price competition may arise because of vertical product differentiation, incomplete consumer awareness, and near-perfect information exchange between retailers. This paper evaluates alternative theories of competition and market structure in online retailing. Advertising, product development, and revenue data for the online book market reveal that consumers respond to advertising and website spending rather than low prices. As the market size expanded, during 1997-2001, these endogenous sunk costs escalated and there was no major new entry. Advertising-to-sales ratios and market-concentration ratios are much higher than for traditional bookselling. Using price and demand information for individual books over a number of weeks, we find counter-cyclical and cross-sectional price variation inconsistent with perfect price competition.
Author: Fouad Sabry Publisher: One Billion Knowledgeable ISBN: Category : Business & Economics Languages : en Pages : 301
Book Description
What is Sunk Cost In economics and business decision-making, a sunk cost is a cost that has already been incurred and cannot be recovered. Sunk costs are contrasted with prospective costs, which are future costs that may be avoided if action is taken. In other words, a sunk cost is a sum paid in the past that is no longer relevant to decisions about the future. Even though economists argue that sunk costs are no longer relevant to future rational decision-making, people in everyday life often take previous expenditures in situations, such as repairing a car or house, into their future decisions regarding those properties. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Sunk cost Chapter 2: Cognitive bias Chapter 3: Daniel Kahneman Chapter 4: Amos Tversky Chapter 5: Behavioral economics Chapter 6: Prospect theory Chapter 7: Supply and demand Chapter 8: Managerial economics Chapter 9: Loss aversion Chapter 10: Status quo bias Chapter 11: Endowment effect Chapter 12: Richard Thaler Chapter 13: Planning fallacy Chapter 14: Mental accounting Chapter 15: Escalation of commitment Chapter 16: Disposition effect Chapter 17: Reference class forecasting Chapter 18: Heuristic (psychology) Chapter 19: Thinking, Fast and Slow Chapter 20: Cognitive bias mitigation Chapter 21: David Gal (II) Answering the public top questions about sunk cost. (III) Real world examples for the usage of sunk cost in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Sunk Cost.
Author: James Bessen Publisher: Yale University Press ISBN: 0300255047 Category : Business & Economics Languages : en Pages : 271
Book Description
In an age of dwindling economic competition, instead of breaking up corporate giants, we need to compel them to share their technology, data, and knowledge
Author: Russel Cooper Publisher: Springer Science & Business Media ISBN: 3790817074 Category : Business & Economics Languages : en Pages : 267
Book Description
This volume examines the economics of platform structure and firm competition within and between online markets. It also details modern theoretical treatments of regulatory intervention in online markets and the consideration of forward-looking experimental analysis of demand for yet to be provided services. The volume is divided into three parts: innovation and competition in online markets; regulation, pricing and evaluation with real options; and empirical approaches to market analysis.
Author: Emek Basker Publisher: Edward Elgar Publishing ISBN: 1783477385 Category : Business & Economics Languages : en Pages : 513
Book Description
This Handbook explores and critically examines current research in economics and marketing science on key issues in retailing and distribution. Providing a rich perspective for the discussion of public policy, contributions from several disciplines and continents range from the history of chains and the impact of multinational retailers on international trade patterns to US merger policy in the retail context, the rise of the Internet, and consumer-to-consumer sales. The chapters address methodological issues such as the structural estimation of entry games between retailers, productivity measurement when both inputs and output are not fully observable, and demand estimation with variable assortment. Policy issues explored include mergers, zoning, and the regulation of buyer power, while other chapters address some of the recent exciting developments in technology, retail formats, and data availability. The book goes on to study the changes in online retailing and ‘big data’, and to examine competition in specific retail sectors including gasoline stations, automobile dealerships, supermarkets, and ‘big box’ retail. This state-of-the-art Handbook is an essential reference for students and academics of economics and marketing science, and offers an outsider’s perspective to specialists in operations research, data analytics, geography, and sociology.
Author: Angel Salazar Publisher: World Scientific ISBN: 9812564780 Category : Computers Languages : en Pages : 472
Book Description
The rapid growth in the adoption and diffusion of information technologies has important implications for practitioners, academics and policy-makers. The widespread use of information technologies is challenging traditional business models and reshaping socio-economic paradigms, as well as promoting new social relations, jobs and working structures.By synthesizing prior research and providing a strong foundation for future research, the aim of this book is to contribute to our practical and conceptual understanding of the technological, behavioral, organizational, social and economic issues and their inter-relationship in organizations and electronic markets.The book covers five broad aspects: technological innovations and trends; organizational change and knowledge management; strategic transformation; and social and economic transformation. Contributions include works by scholars from recognized international communities of academics, practitioners and policy-makers.
Author: Michael I. C. Nwogugu Publisher: CRC Press ISBN: 1498783945 Category : Business & Economics Languages : en Pages : 302
Book Description
Illegal online file sharing costs companies tens of billions of dollars of lost revenues around the world annually and results in lost productivity, various psychological issues, and significant reduction of incentives to create and innovate. Legislative, technical, and enforcement efforts have failed. This book presents psychological theories about why people illegally share files online; analyzes and characterizes optimal sanctions for illegal online file sharing; introduces new models for pricing of network-access and digital-content to help reduce illegal online file sharing; introduces new content control and P2P systems; and explains why game theory does not work in pricing of network access.
Author: John Sutton
Author: John Sutton
Author: Simon Latcovich
Author: Howard W. Smith
Author: Sally M. Davies
Author: Fouad Sabry
Author: James Bessen
Author: Russel Cooper
Author: Emek Basker
Author: Angel Salazar
Author: Michael I. C. Nwogugu