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SÉMINAIRE D'ÉCONOMIE INDUSTRIELLE 2011-2012

Salle S016 MK2
15 boulevard Gabriel Péri
92245 Malakoff
(métro Malakoff - plateau de Vanves) plan 

Lundi 11 Juin
16h30 à 18h00 
Hans-Theo NORMAN (Frankfurt U.)
Présentera :
"Explicit vs. Tacit Collusion - The Impact of Communication in Oligopoly Experiments"
Joint work with Miguel A. Fonseca (U. Exeter Business School)

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Lundi 21 Mai 2012
16h30 à 18h00
Emmanuel PETRAKIS (University of Crete)
Présentera :
"Vertical Integration, Knowledge Disclosure and Decreasing Rival’s Cost"
Joint work with Chrysovalantou Milliou (Athens University)

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19 mars 2012
16h30 à 18h00
Emeric HENRY (Sciences Po)
Présentera :
" Innovation Beyond Patents: Technological Complexity as a Protection against Imitation"
Joint work with Francisco Ruiz-Aliseda

Abstract: A large portion of innovators do not patent their inventions. This is a relative puzzle since innovators are often perceived to be at the mercy of imitators in the absence of legal protection. In practice, innovators however invest actively in making their products technologically hard to reverse-engineer. We consider the dynamics of imitation and investment in such protection technologies, both by the innovator and by imitators. We show that it can justify high level of profits beyond patents and can account for the differences across sectors in the propensity to patent. Surprisingly, in general, the protection technologies that yield the highest profits for the innovator are expensive and do not protect well. Our model also allows us to draw conclusions on the dynamics of mobility of researchers in innovative industries.

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16 janvier 2012
16h30 à 18h00
Chiara FUMAGALLI (Bocconi University)
Présentera :
The Deep-Pocket Effect of Internal Capital Markets"
Joint work with Xavier Boutin, Giacinta Cestone, Giovanni Pica, and Nicolas Serrano-Velarde

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12 décembre 2011 
16h30 à 18h00
Luis VASCONCELOS (Nova School of Business and Economics)

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Lundi 5 decembre 2011
16h30 à 18h00
Frank VERBOVEN (K.U. Leuven)
Présentera :
"Exclusive dealing as an entry barrier-evidence from automobiles"
Joint work with Laura Nurski

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Lundi 21 Novembre 2011 
16h30 à 18h00
Christian BONTEMPS
(Toulouse School of Economics)
Présentera :"Estimating Optimal Contracts of Delegated Management under Asymmetric Information Application to the French Water Utilities"
Joint work with David Martimort (PSE, EHESS) and Alban Thomas (TSE, INRA et IDEI)

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Lundi 7 Novembre 2011
16h30 - 18h00
Cédric ARGENTON
(Tilburg University)
présentera :
"Exclusion through speculation"
Joint work with Bert Willems

Abstract: Many commodities are traded on both a spot market and a derivative market. We show that an incumbent producer may use purely financial derivatives to extract rent from a potential entrant. It can do so by selling derivatives to a large buyer for more than his expected production level. This exclusionary scheme comes at the cost of inefficiently deterring entry and creating too much risk for the buyer. We further show that it can still be used when contracts are offered anonymously through a broker, as the incumbent can signal its identity by adjusting the contracting terms. 

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Lundi 17 Octobre 2011
16h30 - 18h00
Gautam GOWRISANKARAN
(University of Arizona)
présentera :
Dynamics of Consumer Demand for New Durable Goods "
Joint work with Marc Rysman

Abstract: Most new consumer durable goods experience rapid declines in prices and improvements in qual- ity, suggesting the importance of modeling dynamics. This paper estimates a dynamic model of consumer preferences for new durable goods with persistent heterogeneous consumer tastes, rational expectations and repeat purchases over time. We estimate the model on the digital camcorder in- dustry using panel data on prices, sales and characteristics. We nd that standard COLIs overstate welfare gain in later periods due to a changing composition of buyers. The one-year industry elas- ticity in response to a transitory industry-wide price shock is about 25% less than the one-month elasticity. 

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Lundi 10 Octobre 2011
16h30 - 18h00
David PEREZ-CASTRILLO
(Universitat Autònoma de Barcelona)
présentera :
"Investment, Duration, and Exit Strategies for Corporate and Independent Venture Capital Backed Startups"
Joint work with Bing Guo and You Lou

Abstract: We propose a model of investment, duration, and exit strategies for startups that takes into account rst, the high level of uncertainty regarding returnsfrom the investment in the startup, second, the more accurate information in the hands of insiders, and nally, the discount rate of the partners in the startups. According to our theoretical analysis, CVC backed startups stay longer in the market before exit and they invest more than those nanced by IVCs. While longer duration leads to a higher likelihood of an exit through acquisition, a larger investment increases the probability of an IPO exit. These predictions nd strong empirical support, using venture capital data from U.S. 

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Lundi 3 octobre 2011
16h30 - 18h00
Patrick REY
(Toulouse School of Economics)
présentera :
"Does Retailer Power Lead to Exclusion?"
Joint work with Michael D. Whinston

Abstract: This paper examines whether retailer bargaining power and upfront slotting allowances prevent small manufacturers (who have no bargaining power) from obtaining adequate distribution. In contrast to the findings of Marx and Shaffer (2007), who showed that all equilibria involve limited distribution (i.e., exclusion of a retailer), we show that there is always an equilibrium in which full distribution is obtained, provided that full distribution is the industry profit-maximizing outcome. The key feature leading to this differing result is that we do not restrict each retailer to offering the manufacturer a single tariff.