Measuring the welfare of intermediaries in vertical markets
Autor(a) principal: | |
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Data de Publicação: | 2018 |
Outros Autores: | , , |
Tipo de documento: | Artigo de conferência |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | https://hdl.handle.net/10438/27753 |
Resumo: | We empirically investigate the welfare of intermediaries in oligopolistic markets, where intermediaries offer additional services. We exploit the unique circumstance that, in our empirical setting, consumers can purchase from manufacturers or intermediaries. We specify an equilibrium model, and estimate it using product-level data. The demand includes consumers with costly search and channel-specific preferences. The supply includes two distribution channels. One features bargaining about wholesale prices between manufacturers and intermediaries, and price competition among intermediaries. The other is vertically integrated. The model is used to simulate counterfactuals, where intermediaries do not offer additional services. We find that intermediaries increase welfare. |
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Donna, JavierPereira, PedroPires, TiagoAndrade, André de Souza Coelho Gonçalves deDemais unidades::RPCAFGV2019-07-29T14:29:10Z2019-07-29T14:29:10Z2018-12-10https://hdl.handle.net/10438/27753We empirically investigate the welfare of intermediaries in oligopolistic markets, where intermediaries offer additional services. We exploit the unique circumstance that, in our empirical setting, consumers can purchase from manufacturers or intermediaries. We specify an equilibrium model, and estimate it using product-level data. The demand includes consumers with costly search and channel-specific preferences. The supply includes two distribution channels. One features bargaining about wholesale prices between manufacturers and intermediaries, and price competition among intermediaries. The other is vertically integrated. The model is used to simulate counterfactuals, where intermediaries do not offer additional services. We find that intermediaries increase welfare.engIntermediariesVertical marketsSearch frictionsBargainingOutdoor advertisingEconomiaMercadosNegociaçãoAnúncios ao ar livreMeasuring the welfare of intermediaries in vertical marketsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/conferenceObjectinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVRede de Pesquisa e Conhecimento AplicadoLICENSElicense.txtlicense.txttext/plain; charset=utf-84707https://repositorio.fgv.br/bitstreams/2ba887c1-e810-4f1c-83a6-5009a827f842/downloaddfb340242cced38a6cca06c627998fa1MD52ORIGINALVertical_Welfare-DPPT.PDFVertical_Welfare-DPPT.PDFapplication/pdf1506717https://repositorio.fgv.br/bitstreams/a4741058-dd57-4572-a234-86492af8f0be/download0c85f8c946fc7f41e1949a59da73ce6dMD51TEXTVertical_Welfare-DPPT.PDF.txtVertical_Welfare-DPPT.PDF.txtExtracted 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dc.title.eng.fl_str_mv |
Measuring the welfare of intermediaries in vertical markets |
title |
Measuring the welfare of intermediaries in vertical markets |
spellingShingle |
Measuring the welfare of intermediaries in vertical markets Donna, Javier Intermediaries Vertical markets Search frictions Bargaining Outdoor advertising Economia Mercados Negociação Anúncios ao ar livre |
title_short |
Measuring the welfare of intermediaries in vertical markets |
title_full |
Measuring the welfare of intermediaries in vertical markets |
title_fullStr |
Measuring the welfare of intermediaries in vertical markets |
title_full_unstemmed |
Measuring the welfare of intermediaries in vertical markets |
title_sort |
Measuring the welfare of intermediaries in vertical markets |
author |
Donna, Javier |
author_facet |
Donna, Javier Pereira, Pedro Pires, Tiago Andrade, André de Souza Coelho Gonçalves de |
author_role |
author |
author2 |
Pereira, Pedro Pires, Tiago Andrade, André de Souza Coelho Gonçalves de |
author2_role |
author author author |
dc.contributor.unidadefgv.por.fl_str_mv |
Demais unidades::RPCA |
dc.contributor.affiliation.none.fl_str_mv |
FGV |
dc.contributor.author.fl_str_mv |
Donna, Javier Pereira, Pedro Pires, Tiago Andrade, André de Souza Coelho Gonçalves de |
dc.subject.eng.fl_str_mv |
Intermediaries Vertical markets Search frictions Bargaining Outdoor advertising |
topic |
Intermediaries Vertical markets Search frictions Bargaining Outdoor advertising Economia Mercados Negociação Anúncios ao ar livre |
dc.subject.area.por.fl_str_mv |
Economia |
dc.subject.bibliodata.por.fl_str_mv |
Mercados Negociação Anúncios ao ar livre |
description |
We empirically investigate the welfare of intermediaries in oligopolistic markets, where intermediaries offer additional services. We exploit the unique circumstance that, in our empirical setting, consumers can purchase from manufacturers or intermediaries. We specify an equilibrium model, and estimate it using product-level data. The demand includes consumers with costly search and channel-specific preferences. The supply includes two distribution channels. One features bargaining about wholesale prices between manufacturers and intermediaries, and price competition among intermediaries. The other is vertically integrated. The model is used to simulate counterfactuals, where intermediaries do not offer additional services. We find that intermediaries increase welfare. |
publishDate |
2018 |
dc.date.issued.fl_str_mv |
2018-12-10 |
dc.date.accessioned.fl_str_mv |
2019-07-29T14:29:10Z |
dc.date.available.fl_str_mv |
2019-07-29T14:29:10Z |
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https://hdl.handle.net/10438/27753 |
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https://hdl.handle.net/10438/27753 |
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eng |
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eng |
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openAccess |
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