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    Please use this identifier to cite or link to this item: http://ir.lib.ksu.edu.tw/handle/987654321/3196

    Title: Vertical Externality, Input Pricing and Strategic Delegation: Is the Timing Order Relevant?
    Authors: WangLeonard F. S.
    Keywords: Vertical Externality
    Market-share Delegation
    Sales Delegation
    Timing Order
    Input Pricing
    Date: 2008-12-15
    Issue Date: 2009-08-13 23:30:38 (UTC+8)
    Abstract: In this paper, we examine how different delegation contracts and the timing order of the gameaffect the input pricing in a vertically-related industry. The major findings are that: (i) the downstreamfirm’s owners obtain the same profit as in the simple Nash equilibrium regardless of delegation forms in adelegation-input price-output competition game; (ii) input pricing is irrelevant of delegation forms and theorder of firms moves; and (iii) the upstream monopolist will make price announcement to catch moreprofit, while downstream firms will react with market-share delegation. The opportunistic behaviors of theupstream monopolist contrarily results in a lessening of vertical externality in a vertically separatedindustry because a prisoner’s dilemma exists for downstream firms in product market.本文在垂直相關產業中探討不同策略授權及決策順序對於要素訂價的影響。主要結果發現:(i)當下游廠商先決定管理授權契約時, 其授權型式並不會影響最終產品市場的Cournot 競爭均衡; (ii)要素單價不受管理授權型式及決策順序所影響; (iii)上游獨占廠商先宣告要素價格可取得較高的利潤, 下游廠商則會採取市場份額授權策略因應。上游獨占廠商掠奪利潤時,由於下游雙占廠商面對「囚犯困境」下的決策,反而降低了垂直分離產業結構下的負面垂直外部性。
    Appears in Collections:[金融管理系] 會議論文

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