103 research outputs found
Dynamic Common Agency, Vertical Integration, and Investment: The Economics of Movie Distribution
No full textThis paper analyzes the impact of vertical integration on investment and other strategies in a dynamic common agency framework. Movie distribution is used as a motivating example. The model matches several facts about movie distribution; distributors avoid head-to-head new hit releases, hits have longer runs than flops, and distributors receive the lion’s share of value generated by hits. Welfare comparisons show that integration is privately profitable and may improve social welfare even though it reduces industry profits. The e.ects of integration on strategies and welfare depend critically on how integration a.ects the bargaining power of the non-integrated firm.common agency; exclusive dealing; entertainment; film; licensing
A Bargaining Model of War and Peace: Anticipating the Onset, Duration, and Outcome of War
No full textHorizontal Mergers and Exit in Declining Industries
No full textPrevious work on exit in declining industries has neglected mergers. We examine a simple model that predicts which declining industries experience horizontal mergers. Mergers are more likely if 1) market concentration is high; 2) the inverse demand curve is steep at high levels of output and flat at low levels of output; and 3) the industry declines slowly early on and rapidly later on. The conditions that make mergers privately profitable also tend to make them socially optimal. We test the model using U.S. manufacturing industries that declined during 1975-1995 and find some empirical support.takeover; restructuring; consolidation; industry dynamics; failing industries
Equity Links and Information Acquisition in Biotechnology Alliances
No full textWe use a simple model of collaborative innovation to structure an empirical analysis of minority equity links in biotechnology alliances between clients and R&D firms. In the model, an equity link is an investment in information acquisition: it improves the ability of the client to learn about the R&D firm’s ability and the alliance project’s quality. The model generates several testable hypotheses about how the R&D firm’s project characteristics and previous alliances affect the use of equity links in new alliances. We test the hypotheses using a large data set of biotechnology alliances and find empirical support.alliance; collaboration; integration; joint venture; technological change
Product and Process Innovations in the Life Cycle of an Industry
No full textFilson (2001) uses industry-level data on firm numbers, price, quantity, and quality along with an equilibrium model of industry evolution to estimate the nature and effects of quality and cost improvement in the personal computer industry and four other new industries. This paper studies the person computer industry in more detail and shows that the model explains some peculiar patterns that cannot be explained by previous life-cycle models. The model's estimates are evaluated using historical studies on the evolution of the personal computer industry, and patterns that require further model development are described.technology; technological change; industry dynamics; personal computer market; microelectronics
Letter and Ephemera From Filson Young to Edmund Gosse
No full textabstract: Concerning a book the author sends to Gosse, and his appreciation for Gosse's work.Curator's Note: Handwritten note on back of letter reads "Heller Coll Removed from Edmund William Gosse's copy Synge, john M. Works ty Maunsel 1910 ADC.
This is the Maunsel of Maunsel and Company, Limited of Dublin. Maunsel was the publisher of Synge's works listed below.Postage Details: Stationery reads Gerrard 8145 53 Upper Brook Street: Park Lane W.Condition of Original: Glue stains visible.Creation Date Details: Range is the author's lifespan.Provenance: From the Heller Collection, tipped into The Works of John M. Synge, local call numbers SPEC D-872 v. 1-4
Product and Process Innovations in the Life Cycle of an Industry
No full textFilson (2001) uses industry-level data on firm numbers, price, quantity, and quality along with an equilibrium model of industry evolution to estimate the nature and effects of quality and cost improvement in the personal computer industry and four other new industries. This paper studies the person computer industry in more detail and shows that the model explains some peculiar patterns that cannot be explained by previous life-cycle models. The model's estimates are evaluated using historical studies on the evolution of the personal computer industry, and patterns that require further model development are described
Industry Evolution: New Technologies and New Firms
No full textThis paper investigates the effects of employee mobility on industry evolution and technology diffusion by testing a dynamic industry equilibrium model introduced in Franco and Filson (1999). The model focuses on a particular type of employee mobility: researchers can leave existing firms and attempt to form new firms (spin-outs). The model has four testable results: First, spin-outs are an important source of entry. Second, spin-out founds come from firms with high know-how. Third, firms with high know-how are more likely to survive. Fourth, spin-outs whose parents have high know-how are more likely to survive. Using data from the rigid disk drive industry (1977-1997), we find support for the first three results and mixed support for the fourth
Industry Evolution: New Technologies and New Firms
No full textThis paper investigates the effects of employee mobility on industry evolution and technology diffusion by testing a dynamic industry equilibrium model introduced in Franco and Filson (1999). The model focuses on a particular type of employee mobility: researchers can leave existing firms and attempt to form new firms (spin-outs). The model has four testable results: First, spin-outs are an important source of entry. Second, spin-out founds come from firms with high know-how. Third, firms with high know-how are more likely to survive. Fourth, spin-outs whose parents have high know-how are more likely to survive. Using data from the rigid disk drive industry (1977-1997), we find support for the first three results and mixed support for the fourth.spin-off; industry dynamics; technological change; innovation; research and development
The Dynamics of Resource Allocation in Research Organizations
No full textAs a first step towards understanding the evolution of small groups in firms, this paper develops and tests a simple decision-theoretical model of research-unit evolution in which, as managers resolve their uncertainty over time, they shut down under-performing units and remove under-performing unit heads. The selection process generates several testable hypotheses about how unit and head characteristics affect the assignment of heads to units and resource allocation within the firm. Data on research units in firms is used to test the model and estimate the relative importance of the different effects on resource allocation
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