Diskussionspapiere 1904 / 2020
In current power markets, the bulk of electricity is sold wholesale and transported to consumers via long-distance transmission lines. Recently, decentralized local power markets have evolved, often as isolated networks based on solar generation. We analyze strategic pricing, investment, and welfare in local power markets. We show that local power markets with peer-to-peer trading are competitive and ...
2020| Pio Baake, Sebastian Schwenen, Christian von Hirschhausen
Diskussionspapiere 1894 / 2020
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 surprisingly scarce. In this paper we document that data as an input into machine learning tasks display features that support the claim of data being a source of market power. We study how data on keywords improve the search result quality ...
2020| Maximilian Schäfer, Geza Sapi
| Tomaso Duso, Joanna Piechucka [u.a.]
Diskussionspapiere 1918 / 2020
We investigate patterns in common ownership networks between firms that are active in the US pharmaceutical industry for the period 2004-2014. Our main findings are that “brand firms” — i.e. firms that have R&D capabilities and launch new drugs — exhibit relatively dense common ownership networks with each other that further increase significantly in density over time, whereas the network of “generic ...
2020| Albert Banal-Estanol, Melissa Newham, Jo Seldeslachts
Externe referierte Aufsätze
The purpose of this paper is to provide detailed insights into an approach to measure gross employment of the renewable energy (RES) industry in Germany in order to improve transparency and comparability. The method applied for the assessment of gross employment ﬁgures follows the input–output (IO) modeling approach and covers direct as well as indirect employment effects.All-in-all, four different ...
12 (2020), 15, 6163, 21 S.
| Marlene O'Sullivan, Dietmar Edler
Diskussionspapiere 1888 / 2020
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 affects consumer decisions through salience effects, its consumer welfare consequences ...
2020| Kevin Ducbao Tran
Diskussionspapiere 1889 / 2020
The rise of online platforms has disrupted numerous traditional industries. A prime example is the short-term accommodation platform Airbnb and how it affects the hotel industry. On the one hand, consumers can profit from Airbnb due to an increased number of choices and lower prices. On the other hand, critics of the platform argue that it allows professional hosts to operate de facto hotels while ...
2020| Maximilian Schäfer, Kevin Ducbao Tran
Externe referierte Aufsätze
We argue that within-industry investor diversification is directly related to common ownership incentives (profit loads on rival firms by the manager of a firm) in product markets. Because of their respective investment strategies, passive investors are naturally more diversified than active investors. If more money flows from active toward passive investors, then common ownership incentives increase. ...
AEA Papers and Proceedings
110 (2020, S. 561-564
| Albert Banal-Estanol, Jo Seldeslachts, Xavier Vives
Diskussionspapiere 1924 / 2020
The self-employed are among those facing the highest probability of strong income losses during the COVID-19 pandemic. Governments in many countries introduced support programs to support the self-employed, including the German federal government, which approved a €50bn emergency aid program at the end of March 2020 offering one-off lump-sum payments of up to €15,000 to those facing substantial revenue ...
2020| Joern Block, Alexander S. Kritikos, Maximilian Priem, Caroline Stiel
Die digitale Ökonomie hat unzählige Märkte nachhaltig verändert. Insbesondere Online Plattformen bieten eine noch nie dagewesene Auswahl an Produkten, gekoppelt mit innovativer Technologie, die das Zusammenfinden von Angebot und Nachfrage vereinfacht, Vertrauen aufbaut und Suchkosten reduziert. Gleichzeitig hat die neuartige Natur dieser Plattformen dazu geführt, dass sie teilweise mit den etablierten ...
XIII, 157 S.
| Kevin Ducbao Tran