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| Registros recuperados: 39 | |
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| Cai, Xiaowei; Stiegert, Kyle W.. |
| Understanding how business cartels form and expand is foundational for developing sound deterrence strategies. Past work (i.e. Connor, 2005) has relied on net present value (NPV) methods to evaluate the streams of costs and benefits of forming or joining a cartel. While NPV adequately measure the expected value of future streams of benefits and costs, higher moments of the distribution are also important in understanding agent behavior. Thus, in the presence of uncertainty about future streams and litigation costs, NPV may miss important dimensions that shape the issue. The decision to form or join a cartel is, at least, partially irreversible, because it exposes the firm or its involved managers to litigation on all previous returns and even after the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Cartel Joining Behavior; Real Options Theory; International Cartels; Industrial Organization; K21; L00; L12. |
| Ano: 2010 |
URL: http://purl.umn.edu/61301 |
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| Stiegert, Kyle W.; Ardalan, Archie Amir; Marsh, Thomas L.. |
| This study utilized intra-firm, socio-cultural, geographical-proximity, and political-stability variables to explain bimodal foreign direct investment (FDI) patterns by agri-food and beverage multinational companies into and within the European Union. A logit framework incorporated a unique-count database of firm-level investment patterns from 1987–1998. The results showed the 1992 structural changes under the Maastricht Treaty increased the probability of wholly owned FDI modes such as greenfields and buyouts. The model also found that past modal strategies of firms, language barriers, and exchange-rate volatility all correctly explained modal investment patterns. The results provide important contributions toward understanding modal investment strategies... |
| Tipo: Journal Article |
Palavras-chave: International Relations/Trade. |
| Ano: 2006 |
URL: http://purl.umn.edu/7067 |
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| Wang, Shinn-Shyr; Stiegert, Kyle W.. |
| In this paper, a two-period game is constructed, where duopoly firms choose advertising strategies in the first period and compete in price or quantity in the second period by maximizing the value of firm equity. Using certainty equivalence, we demonstrate the impacts of uncertainty and modes of competition on duopoly firms' optimal pricing, production, and advertising strategies. Equilibrium price and quantity outcomes emerge as significantly di®erent from the standard industrial organization model of profit maximization. It turns out that the common measurement of market power, the Lerner index, is generally mis-stated. In contrast to the literature, we also find that firms will optimally switch from quantity to price competition either when advertising... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2006 |
URL: http://purl.umn.edu/12606 |
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| Cai, Xiaowei; Stiegert, Kyle W.. |
| Cartel operations still exist worldwide despite the recent development and enforcement of antitrust laws in scores of countries that previously had no such legal framework. Since 1990, 283 international cartels were discovered by antitrust authorities around the world (Connor 2003). According to a 1990s' sample of U.S. Department of Justice and European Commission prosecuted cases, the discovered cartels operated in a wide variety of industries such as chemicals, metals, paper products, transportation, communication, food, textiles and services (OECD 2002). Were it not for the efforts to deter cartels by the antitrust agencies, there would likely have been many more such arrangements (Connor 2005). The presence and societal impacts of domestic and... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Cartel; Dissolution; Antitrust; Market Uncertainty; Industrial Organization. |
| Ano: 2010 |
URL: http://purl.umn.edu/61297 |
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| Wang, Shinn-Shyr; Stiegert, Kyle W.; Rogers, Richard T.. |
| This study examines the market structure-conduct-performance relationship for 48 four-digit SIC Food and Tobacco Processing Industries during the 1970s, 1980s and 1990s. The simultaneous-equation analyses are used to explore the relationship among price-cost margin (PCM), market concentration, advertising outlay, and various control variables. With an intertemporal setting, our findings provide evidence of structural changes over time in the U.S. food manufacturing sector and support some of the conventional SCP wisdoms, but challenge others. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agribusiness. |
| Ano: 2006 |
URL: http://purl.umn.edu/21045 |
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| Stiegert, Kyle W.; Blanc, Jean-Pierre. |
| Ladd and Martin's hedonic pricing model is extended to include the interactive effect of noncontracted characteristics on the value of contracted characteristics. Marginal values of wheat protein in the Japanese import market are estimated using the interactive effects of noncontracted dough/flour characteristics typically proxied by protein. Protein value is linked positively to farinograph stability, a prime factor in blending different flours. Three high protein wheats maintained about the same marginal value of protein. The marginal value for the two low protein wheats appear more end-use dependant. They varied in a $2.00/ton range depending on protein absorption, stability, and extensibility. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1997 |
URL: http://purl.umn.edu/31004 |
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| Shi, Guanming; Chavas, Jean-Paul; Stiegert, Kyle W.. |
| This paper investigates bundle pricing under imperfect competition. In a multiproduct context, we first examine how substitution/complementarity relationships among products can affect pricing. This is used to motivate multi-product generalizations of the Herfindahl-Hirschmann index (GHHI) capturing cross-market effects of imperfect competition on bundle pricing. The GHHI model is applied to pricing of conventional and patented biotech seeds in the US from 2000-2007. One major finding is that standard component pricing in biotech traits is soundly rejected in favor of sub-additive bundle pricing. This result is consistent with the presence of scope economies in the production of genetic traits. The econometric estimates show how changes in market... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness; Demand and Price Analysis. |
| Ano: 2008 |
URL: http://purl.umn.edu/92212 |
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| Balzer, Brian; Stiegert, Kyle W.. |
| On June 1, 1998, President Clinton approved a three-year quota on wheat gluten imports from Australia, the European Union, and all other nonexcluded countries. The quota-remedy will be reviewed for possible extension for up to five additional years. The potential for extensions is an important reason to develop a better economic understanding of this industry and the effectiveness of the implemented quotas. The purpose of this paper is to provide background on the gluten trade dispute, to decipher the qualitative impacts of EU policies on world gluten markets, and to evaluate the potential effectiveness of the U.S. quota remedy. The U.S. industry has operated at a low level of capacity utilization, implying high elasticity of supply; demand is inelastic;... |
| Tipo: Journal Article |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 1999 |
URL: http://purl.umn.edu/27387 |
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| Patterson, Paul M.; Abbott, Philip C.; Stiegert, Kyle W.. |
| The U.S. government awarded export subsidies to agribusiness firms through the Export Enhancement Program (EEP). This study analyzes (a) whether the subsidies promoted new firm market entry and (b) whether firm characteristics influenced program participation. Trade in three commodities, poultry, wheat, and wheat flour, was analyzed using firm level data. It was found that new firm market entry was not significantly higher among subsidy recipients and that past program participation strongly influenced current program participation. Although the EEP is believed to have been administered fairly, perceived or real barriers prevented some firms from using it. |
| Tipo: Journal Article |
Palavras-chave: Agricultural and Food Policy; International Relations/Trade. |
| Ano: 1996 |
URL: http://purl.umn.edu/30997 |
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| Hamilton, Stephen F.; Richards, Timothy J.; Stiegert, Kyle W.. |
| The effect of advertising on market performance has been a long-standing debate. Advertising that increases the dispersion of consumers’ valuations for advertised goods raises the market power of firms, while advertising that decreases the dispersion of consumers’ valuations leads to narrower price-cost margins and superior performance in markets for advertised goods. Numerous challenges confound the empirical identification of advertising effects on market performance. This paper proposes a simple method that relies on the revealed preferences of firms participating in generic advertising programs. Generic advertising programs provide a unique window through which to observe advertising effects on market performance, because changes in the dispersion of... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Advertising; Oligopoly; Marketing; L1; M37. |
| Ano: 2009 |
URL: http://purl.umn.edu/49187 |
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| Registros recuperados: 39 | |
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