摘要:

AbstractUnder different modes of competitive pricing behavior, profit‐maximizing price trajectories are derived for durable products in a dynamic duopoly. Open‐loop co‐operative and non‐cooperative pricing behavior is analyzed within a comprehensive model where sales of differentiated products are described by interlocked diffusion processes with realistic demand characteristics. Because of analytic complexity, the optimal trajectories implied by the control and differential‐game problems are derived numerically across an extensive set of plausible market scenarios. Manipulation of initial market conditions enables derivation of optimal competitive pricing as a function of timing

ISSN:0143-6570    

DOI:10.1002/mde.4090140302

出版商:John Wiley&Sons, Ltd.    

年代:1993

数据来源: WILEY

摘要:

AbstractThe quality of many consumer nondurable goods or services is sufficiently complex or obscure that consumers cannot completely verify the true quality in a single usage. For such ‘experience’ products or services, the accumulated consumer consumption experience of a brand is an important determinant of its sales or market share. The market share of a brand is in turn directly influenced by its own and the competitive price and advertising strategies, given the different levels of quality (among other factors). In this paper, we investigate the impact of the aggregate consumption experience on the firm's dynamic pricing and advertising strategies by developing a formal game‐theoretic model of a dynamic duopoly. The model of competition does not yield explicit closed‐form expressions for the dynamic price and advertising paths of the two firms. Hence, we simulate the equilibrium paths using a discrete‐time algorithm. Our simulation results provide interesting insights into the dynamic equilibrium price and advertising paths, under a variety of realistic competitive

ISSN:0143-6570    

DOI:10.1002/mde.4090140303

出版商:John Wiley&Sons, Ltd.    

年代:1993

数据来源: WILEY

摘要:

AbstractThe objective of this paper is to determine the optimum level of quality a firm should choose in a product/service, given the customers‘ perceptions of quality and the reference standard in a competitive market. Our work on this quality selection problem differs from those of past researchers in that we model explicitly customer's perceptions and the reference standard. We develop a game‐theoretic model to obtain insights into the firms’ quality selection problem. The model results suggest that the market differentially provides rewards or penalties to firms depending upon customers' perceptions as well as other market and product‐specific parameters. We contrast our findings for an oligopolist with that for a monopolist and observe that although an oligopolist often provides a better quality product, he does not do so always; especially when perceptions are sufficiently weak and the reference standard is end

ISSN:0143-6570    

DOI:10.1002/mde.4090140304

出版商:John Wiley&Sons, Ltd.    

年代:1993

数据来源: WILEY

摘要:

AbstractBetween 1969 and 1987 pharmaceutical companies holding patents in Canada were subject to immediate compulsory licensing. This study evaluates the stock market response to both the imposition of immediate compulsory licensing in 1969 as well as its subsequent revocation in 1987. Since the affected companies were multinational enterprises, we analyse the movement of share prices on the New York Stock Exchange. The results indicate that patent protection is viewed positively by the stock market, but only when measured with hindsight (in 1987). Our results are consistent with other studies that suggest that patent protection does allow the appropriation of gains from knowledge by firms in the pharmaceutical industry. Thus, pharmaceutical companies would benefit from international agreements to provide more stringent levels of patent protection.

ISSN:0143-6570    

DOI:10.1002/mde.4090140305

出版商:John Wiley&Sons, Ltd.    

年代:1993

数据来源: WILEY

摘要:

AbstractThe study investigates arbitrator gender and grievant gender effects on the decisions of 146 arbitrators rendered on a hypothetical drug‐testing case. The effects are estimated using a sequential selectivity model. This approach takes into account the sequential and conditional nature of arbitrators' decisions. The results indicate that arbitrators are more likely to overturn terminations when the grievant is female, and that female arbitrators are less likely to fully reinstate grievants when the termination is overturned. Other results include the finding that older arbitrators treated grievants more harshly by more often awarding only partial reinstatements. When suspensions are given, however, we find that older arbitrators award shorter suspensions than do younger arbitrators. It is also found that more experienced arbitrators awarded longer suspensions than less experienced arbitrator

ISSN:0143-6570    

DOI:10.1002/mde.4090140306

出版商:John Wiley&Sons, Ltd.    

年代:1993

数据来源: WILEY

摘要:

AbstractThis article argues that Boudreaux and Holcombe (1989) misrepresented at least some contemporary theories of the firm when they claimed that these theories were constructed on a rigid general equilibrium basis, and contrasted them unfavorably with Frank Knight's theory of the firm. While nexus of contract theories may partially fit this description, this is not the case with the theorizing represented by the work of Oliver Williamson. Boudreaux and Holcombe are also criticized for failing to see that Knight's theory of the firm is in fact consistent with much contemporary theorizing on the firm.

ISSN:0143-6570    

DOI:10.1002/mde.4090140307

出版商:John Wiley&Sons, Ltd.    

年代:1993

数据来源: WILEY

ISSN:0143-6570    

DOI:10.1002/mde.4090140308

出版商:John Wiley&Sons, Ltd.    

年代:1993

数据来源: WILEY

ISSN:0143-6570    

DOI:10.1002/mde.4090140301

出版商:John Wiley&Sons, Ltd.    

年代:1993

数据来源: WILEY