Brown Bag Seminar Industrial Economics

Abstract:  An increasing body of empirical evidence has documented trends to risen concentration, profits, markups, and market power in many industries across the world since the 1980s. Several factors – such as globalisation, digitisation, the increased role of intangible assets and sunk costs, as well as M&A activity and the (under)enforcement of merger control– have been ...

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Abstract:  Trust is thought to be an important driver of economic growth and other economic outcomes. Previous studies suggest that trust may be a combination of risk attitudes, distributional preferences, betrayal aversion, and beliefs about the probability of being reciprocated. We compare the results of a binary trust game to the results of a series of control treatments that remove the ...

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Abstract:  Antibiotic misuse due to prescribing under diagnostic uncertainty is a leading driver of antibiotic resistance. We investigate the magnitude and mechanisms by which machine learning predictions can enable policies that reduce antibiotic misuse. Building on predictions from administrative data on urinary tract infections in Denmark, we evaluate counterfactual policies that replace ...

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Abstract:  This paper investigates the determinants of ownership changes of drug candidates in one of the most important current pharma markets —the market for diabetes. We in particular look at how do the competitive circumstances, progress in clinical development and radicalness of the drug candidates matter in these decisions. We use newly constructed, very granular dataset tracking ...

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Abstract:   The rise of dominant firms in data driven industries is often credited to their alleged data advantage. Empirical evidence lending support to this conjecture is lacking. In this paper, we show that data as an input into machine learning tasks displays features that favor the hypothesis that data is a source of market power. We study the search result quality for search keywords on ...

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Abstract:   In online commerce, obfuscation strategies by sellers are hypothesized to mislead consumers to their detriment and to the profit of sellers. One such obfuscation strategy is partitioned pricing in which the price is split into a base price and add-on fees. While empirical evidence suggests that partitioned pricing impacts consumer decisions through salience effects, its consumer ...

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Abstract: When a patient with symptoms of urinary tract infection arrives at a physician's office, it needs to decide which antibiotic drug to prescribe. A drug's efficacy in treating the infection depends on the individual, time-dependent resistance profile of the bacterium causing the infection. Physicians can conduct antibiotic susceptibility tests in order to create current resistance profiles ...

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This study investigates the payout policy of state-owned municipal firms. Based on insights from agency theory we derive an empirically testable model based on Lintner's corporate dividend policy model accounting for the characteristics of state-owned firms in terms of corporate governance and ownership structure. Exploiting a large and new panel dataset on German firms from the years 2003 to 201 ...

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Abstract: Antitrust authorities try to detect and sanction existing cartels and hinder the formation of new ones. Firms nevertheless try to collude while avoiding sanctions, for example by colluding tacitly instead of explicitly forming a cartel. In this paper, we focus on differences in the communication of firms that either form an explicit cartel or try to collude tacitly. The latter may still ...

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Joanna and Christoph will do a joint IOBB to exchange ideas on a possible project on incumbency advantage and mergers in procurement auctions. In the first part of the seminar, they will discuss possible theoreotical explanations and consequences of incumbency advantage. This will open the floor for discussion on how data from procurement auctions in the French urban transport industry can be ...

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Abstract: In this paper, we analyze bidding groups that participate in procurement auctions. Our main question is to ask, whether in the absence of the joint bid, there could have been two or more independent bids and if yes, these bids yield a different final outcome. We utilize data from the Austrian construction sector and estimate models of first-price sealed-bid auctions with endogenous entry ...

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Abstract: We examine experimentally the impact of corporate social responsibility techniques on individuals’ performance and willingness to compete. Our baseline treatment adopts the Niederle-Vesterlund (2007) paradigm whereby individuals perform a task under piece-rate and tournament incentives, followed by an opportunity to determine which of the two payment schemes they prefer. In our ...

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The seminar organized by the "Firms and Markets" department: * provides an opportunity to present on-going research, * focuses on advances in applied microeconomics, industrial organization, and economic policy issues, * serves as a forum for discussing both academic and project-related research, * intends to provide a platform for the exchange of ideas. Coordination: Jonas Hannane

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(joint with André Stenzel and Peter Schmidt) We consider dynamic price-setting in the presence of rating systems and asymmetric information about product quality. We provide a framework in which the price charged determines the characteristics of purchasing consumers. The price has two effects on future ratings: (i) a direct price effect on reviews, and (ii) an indirect selection effect ...

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The seminar organized by the "Firms and Markets" department: * provides an opportunity to present on-going research, * focuses on advances in applied microeconomics, industrial organization, and economic policy issues, * serves as a forum for discussing both academic and project-related research, * intends to provide a platform for the exchange of ideas. Coordination: Jonas Hannane

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• Documents

The seminar organized by the "Firms and Markets" department: * provides an opportunity to present on-going research, * focuses on advances in applied microeconomics, industrial organization, and economic policy issues, * serves as a forum for discussing both academic and project-related research, * intends to provide a platform for the exchange of ideas. Coordination: Jonas Hannane

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The seminar organized by the "Firms and Markets" department: * provides an opportunity to present on-going research, * focuses on advances in applied microeconomics, industrial organization, and economic policy issues, * serves as a forum for discussing both academic and project-related research, * intends to provide a platform for the exchange of ideas. Coordination: Jonas Hannane

• locknot public

The seminar organized by the "Firms and Markets" department: * provides an opportunity to present on-going research, * focuses on advances in applied microeconomics, industrial organization, and economic policy issues, * serves as a forum for discussing both academic and project-related research, * intends to provide a platform for the exchange of ideas. Coordination: Jonas Hannane

• locknot public

The seminar organized by the "Firms and Markets" department: * provides an opportunity to present on-going research, * focuses on advances in applied microeconomics, industrial organization, and economic policy issues, * serves as a forum for discussing both academic and project-related research, * intends to provide a platform for the exchange of ideas. Coordination: Jonas Hannane

• locknot public

The seminar organized by the "Firms and Markets" department: * provides an opportunity to present on-going research, * focuses on advances in applied microeconomics, industrial organization, and economic policy issues, * serves as a forum for discussing both academic and project-related research, * intends to provide a platform for the exchange of ideas. Coordination: Jonas Hannane

• locknot public