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Introduction
Publications
Publications (84)
This article investigates the strategies of a data broker selling information to one or to two competing firms. The data broker combines segments of the consumer demand that allow firms to third-degree price discriminate consumers. We show that the data broker (1) sells information on consumers with the highest willingness to pay; (2) keeps consume...
Universities in developing countries have rarely been able to subscribe to academic journals in the past. The “Online Access to Research in the Environment” initiative (OARE) provides institutions in developing countries with free online access to more than 11,500 environmental science journals. We analyze the effect of OARE on (1) scientific outpu...
The protection of financial personal data has become a major concern for Internet users in the digital economy. This paper investigates whether the consumers’ use of non-bank payment instruments that preserve financial privacy from banks and relatives may increase their online purchases. We analyze the purchasing decisions and the use of bank and n...
Despite the growing importance of the debit card in most developed countries, there are relatively few academic studies that analyze the impact of such evolution on the demand for cash. Beyond data availability, this research is complicated by the fact that the debit card provides two services for consumers - cash withdrawal and payment - that have...
Universities in developing countries have rarely been able to subscribe to academic journals in the past. The “Online Access to Research in the Environment” initiative (OARE) provides institutions in developing countries with free online access to more than 5,700 environmental science journals. Here we analyze the effect of OARE registration on sci...
Les identités numériques tiennent un rôle prépondérant dans l'actualité, provoquant travaux et débats intenses, au sujet de l'évolution des usages sur Internet comme de l'émergence de nouveaux services numériques. Le manque de maîtrise des technologies utilisées, la recrudescence des délits d'usurpation d'identités, la volonté de l'Europe et de la...
Les identités numériques tiennent un rôle prépondérant dans
l’actualité, provoquant travaux et débats intenses, au sujet de
l’évolution des usages sur Internet comme de l’émergence de
nouveaux services numériques. Le manque de maîtrise des
technologies utilisées, la recrudescence des délits d’usurpation
d’identités, la volonté de l’Europe et de la...
Three concepts related to information are often confused: the cost of production, the quantity and the value of information. If cost is generally proportional to the amount of information exchanged, there is seldom a direct link between the amount of information and its value. Consider two examples of smart, connected products involving highly sens...
In this article, we show how new online music streaming services such as Spotify and Deezer can deter piracy. These new services monetize large audiences with low willingness to pay for music. We analyze a simple freemium model in which a firm offers both a free version and a premium version. The firm can restrict the use of the free version. Consu...
The music industry is facing the development of online P2P networks, direct download services and other forms of digital piracy, while at the same time the format and promotion of pre-recorded music are undergoing major transformations with the advent of MP3 and new forms of collective promotion, particularly through online communities and social n...
Internet forme sans aucun doute l'innovation la plus importante de la fin du XXe siècle. Aujourd’hui, plus de 2,5 milliards d’êtres humains y sont connectés. Demain, internet nous reliera également à des dizaines de milliards d’objets, de capteurs, de robots, qui dialogueront entre eux et prendront progressivement en charge des pans entiers de la g...
Recent rapid growth in electronic book sales has raised a critical question for publishers and book stores: do e-books cannibalize or increase print sales? In this article we compare the best-selling titles sold on Amazon.com in print or electronic (Kindle) formats during the period from November 2007 to July 2010. Using econometric methods, we fin...
Despite the growing importance of the debit card in most developed countries, there are relatively few academic studies that analyze the extent of cash-card substitution. This issue is complicated by the fact that the debit card contains two functions, cash withdrawal and payment, which have mixed effects on cash holding and cash usage. In this pap...
Online price dispersion has remained a puzzle for many years. In this article, we test the effects of a range of factors identified in the literature including vendor strategy, market structure, vendor heterogeneity and the time dimension. We use a dataset collected from the Amazon.com, Amazon.uk and the Amazon.fr marketplaces for books, CDs and DV...
How much is the standing timber from public forests worth? To estimate the value of a timber lot, we adopt the transaction evidence appraisal approach using data from timber auctions in Lorraine (Eastern France) accounting for the facts that: (i) the seller's reserve prices are secret, (ii) there remain many unsold lots and (iii) the number of bidd...
In this paper we use data from a survey of 151 French record companies to test the “long tail theory” at the level of the firm. More specifically, we test whether, following the “selling less of more” principle coined by Anderson (2006), record companies that have adapted to digitization (at various levels: artists’ scouting, distribution and promo...
This paper compares the best selling books, CD and DVD on the French Amazon website to those of the Amazon Marketplace which connects professionals and non professionals (individuals) interested in new and second-hand cultural goods. We show that the catalog of the best selling items on Amazon and Amazon Marketplace over the period march-august 200...
This paper compares the best selling books, cd and dvd on the French Amazon website to those of the Amazon Marketplace which connects professionals and non professionals (individuals) interested in new and second-hand cultural goods. We show that the catalog of the best selling items on Amazon and Amazon Marketplace over the period march-august 200...
How much is the timber from public forests worth? How can the Public Forest Service define a fair market price for standing timber lots? What is the cost of low participation in French timber auctions? To estimate the value of a timber lot we adopt the transaction-evidence appraisal approach using data from timber auctions in Lorraine (Eastern Fran...
Internet and physical stores : comparison of book sales in France
In this article, we compare online sales of books to sales in physical stores in France during the period March-August 2006. This is the first work that characterizes the distribution of book sales in France and that analyzes the dynamic interactions between physical and online sales...
An Empirical Analysis of Price Dispersion on the Internet
An Empirical Analysis of Price Dispersion on the Internet Online price dispersion has remained a puzzle for many years. In this article, we test the effects of a range of factors identified in the literature including vendor strategy, market structure, vendor heterogeneity and the time dimen...
In this article, we compare online sales of books to sales in physical stores in France during the period March-August 2006. This is the first work that characterizes the distribution of book sales in France and that analyzes the dynamic interactions between physical and online sales of books in new state. We first show that the distributions of sa...
How much is the timber from public forests worth? How can the Public Forest Service define a fair market price for standing timber lots? To estimate the value of a timber lot we adopt the transaction-evidence appraisal approach using data from timber auctions in Lorraine (Eastern France) accounting for the facts that: (i) the seller's reserve price...
This paper analyzes the impact of online customer reviews on purchasing decisions and the influence of online customer or peer reviews compared to other channels of information such as offline press (expert reviews) and trial versions (personal reviews). Using 7,024 answers of an anonymous online survey administrated from June 18 to July 5, 2004, o...
We examine the impact of horizontal and vertical market structure on product variety. We consider a market for horizontally differentiated products where the cost of a new-product launch is fixed and spread between the manufacturing and retail industries. We show that a vertically integrated firm offers a wider variety of products than a chain of m...
We examine the impact of horizontal and vertical market structure on product variety. We consider a market for horizontally differentiated products where the cost of a new-product launch is fixed and spread between the manufacturing and retail industries. We show that a vertically integrated firm offers a wider variety of products than a chain of m...
The purpose of this article is to identify which, if any, segments of the movie business have suffered from digital piracy. We use a sample of 620 university-members including undergraduate students, graduate students and professors to assess the effect of digital piracy on legal demand. A large percentage of respondents get pirated movies from a v...
We propose a Bayesian Metropolis-Gibbs Monte Carlo Markov Chain (MCMC) algorithm to estimate parameters of a sample selection model in which the selected equation include a binary endogenous explanatory variable, using a three simultaneous equation model. We apply our methodology to participation in timber auctions for which some lots receive no bi...
Abstract In this paper, we examine the impact of horizontal and vertical market struc- ture on product,variety. We consider a market,for horizontally differentiated products,in which the cost of launching,a new,product,is fixed and spread be- tween,the manufacturing,and the retail industries. While this framework,can be applied to a large number,of...
Digital products can be copied at almost no cost and are subject to non-commercial copying by final consumers. Because the copy of a copy typically does not deteriorate in quality, copies can become available on a large scale basis – this can be illustrated by the surge of file-sharing networks. In this paper we provide a critical overview of the t...
Nous examinons l'impact de la structure horizontale et verticale d'un marché sur les incitations à l'innovation et sur la variété des produits. Nous considérons le marché d'un bien homogène où un producteur peut innover pour étendre sa gamme de produits en créant un nouveau produit substitut. Le coût de lancement du nouveau produit est fixe, et rép...
Timber stumpage appraisal is an important issue for Public Forest Services so as to set a relevant reserve price and to obtain a fair market value. The hedonic price function approach is a useful method to infer the appraisal timber value given that many characteristics may influence the stumpage price. We adopt the transaction-evidence timber appr...
We examine the impact of horizontal and vertical market structure on product variety. We consider a market for horizontally differentiated products where the cost of launching a new product is fixed and spread between the manufacturing and the retail industries. We show that a vertically integrated firm offers a wider variety of products than a cha...
The article examines to which extent downloading on peer-to-peer (P2P) networks is responsible for the crisis in the music industry. Using the most recent empirical studies, the goal is to estimate the relevance of the two contrasting explanations usually put forward. On the one hand, it is claimed that P2P networks induce piracy and, thereby, redu...
We use empirical properties of market bid functions in Treasury bill auctions to analyze the Treasury auction mechanism. We propose an econometric method that exploits data from auction tables and we determine variables influencing the shape of market bid functions and their fluctuations across auctions. We apply the estimation procedure to discrim...
Downloading digital products for free may harm creators and intermediaries because consumers may no longer buy the version for sale. However, as we show in this paper, this negative effect may be overcompensated by a positive effect due to sampling: consumers are willing to pay more because the match between product characteristics and buyers' tast...
This paper analyzes the impact of music file sharing on CD purchases. Traditionally, two arguments are opposed concerning the impact of music file sharing on CD sales. On the one hand, MP3 downloads only reduces sales of legitimate CDs (the "competition effect"). On the other hand, consumption of free MP3s could lead people to buy CD which they wou...
We argue that Digital Rights Management technologies can serve a number of marketing purposes that will make it easier for newcoming artists to expose their products to consumers and that will allow established artists to fine tune their offerings to consumers' tastes.
A également fait l'objet de présentations à la 32. Conference of the European Association of Research in Industrial Economics (EARIE), les 1-4/11/2005 à Porto (PRT) et au 54. Congrès de l'Association Française de Sciences Economiques, les 15-16/09/2005 à Paris Diffusion du document : INRA Unité Mixte de Recherche LEF Laboratoire d'Economie forestiè...
We discuss computational issues in the sequential probit model that have limited its use in applied research. We estimate parameters of the model by the method of simulated maximum likelihood (SML) and by Bayesian MCMC algorithms. We provide Monte Carlo evidence on the relative performance of both estimators and find that the SML procedure computes...
The use of file-sharing technologies, so-called Peer-to-Peer (P2P) networks, to copy music files has become common since the arrival of Napster. P2P networks may actually improve the matching between products and buyers - we call this the matching effect. For a label the downside of P2P networks is that consumers receive a copy which, although it i...
In this guide, we discuss the impact of digitalization on the music industry. We rely on market and survey data at the international level as well as expert statements from the industry. The guide investigates recent developments in legal and technological protection of digital music and describes new business models as well as consumers' attitude...
This paper models the interaction of copies and originals (e.g. MP3s and CDs, generally called flavors) in a dynamic, horizontally (stylistic variety) and vertically (distribution technology) differentiated market. The Johnson (1985) household copying model is at the root of this model. Quality differences were added because they appeared to play a...
Peer-to-peer (P2P) technologies are often seen as a threat by copyright owners because they encourage piracy by making digital copies easier to obtain. In response, major record companies have come up with new devices designed to protect original material, and lobbied to reinforce legal protection. We view traditional distribution as an information...
We analyze the role of music downloading on the current downturn in CD sales. We provide 2000-2001 cross-country evidence in support of the claim of losses due to internet piracy made by the music industry. For the U.S. we also assess the potential loss from internet piracy using detailed survey data. We conclude the empirical analysis by forecasti...
We assess the importance of information flows from universities to innovative firms and determine the relative contribution of formal collaboration and pure knowledge spillovers in this process. We find that spillovers provide the most benefit to firms that imitate existing technologies or those that are involved in incremental innovation. On the o...
Using a simple framework in which production involves several inputs that can be defective, we show that when innovations are used as factor of production, entrepreneurs do not take into account the fact that their innovations increase the complexity of the production process. This leads to a negative complexity externality.
Digital products have the property that they can be copied almost costlessly. This makes them candidates for non-commercial copying by final consumers. Because the copy of a copy typically does not deteriorate in quality, copying products can become a wide-spread phenomenon -- this can be illustrated by the surge of file-sharing networks. In this p...
The aim of this paper is to show that innovations are the result of complex interactions between different private and public agents. For that, we identify the nature of the information sources that firms use to produce their innovations and assess the impact of these different sources on the results of the innovation process. We develop an econome...
EMPIRICAL STUDY OF MARKET DEMAND FUNCTIONS IN TREASURY BILL AUCTIONS
This empirical study analyzes market bid functions observed in French Treasury Bills auctions. We use data from 125 discriminatory auctions of 1995 to determine the factors that affect the shape of the aggregate demand functions. We proceed in two steps. In the first step, we esti...
This empirical study analyzes market bid functions observed in French Treasury Bills auctions. We use data from 125 discriminatory auctions of 1995 to determine the factors that affect the shape of the aggregate demand functions. We proceed in two steps. In the first step, we estimate demand curves by logistic functions. In the second step, we dete...
We study the role of information sources on innovation in a two stage sequential probit model that can be used to analyze survey data in which questions are asked sequentially. Firms can fall into three catagories: (i) they do not innovation; (ii) they introduce a radical innovation on their market; (iii) they imitate an existing innovation. We est...
We use the results of 125 discriminatory French Treasury bill auctions to determine the factors that affect the shape of the aggregate demand functions. We proceed in two steps. In the first step, we estimate the parameters of a logistic specification. In the second step, we explain fluctuations across auctions by economic variables. Estimated para...
We study the role of information sources on innovation decision in a two stage sequential probit model. In the first stage, firms decide to innovate or not, while in the second stage they choose the mode of innovation. We estimate parameters of this model in a Bayesian framework in which we use the latent variable structure of the model to implemen...
This econometric study analyzes market bid functions for French Treasury Bills. We use the results of 125 discriminatory bill auctions during 1995 to determine the factors that affect the shape of the aggregate demand functions. We proceed in two step, we estimate the parameters of a logistic specification. In the second step, we explain fluctuatio...
In this paper we estimate the price premium associated with organic baby food by applying a hedonic model to price and characteristic data for baby food products collected in two cities: Raleigh/Durham, North Carolina and San Jose, California. We use price per jar of baby food as the dependent variable and control for a number of baby food characte...
The method described by Levinsohn and Feenstra (Journal of International Economics, 1990, 28, 199–215) to identify the set of competitors faced by a differentiated product is modified to deal with the case in which the set of characteristics describing the product includes one or more dummy variables. This is illustrated by an application to the Be...
This paper analyzes the impact of music file sharing on CD purchases. Traditionally , two arguments are opposed concerning the impact of the music file sharing on CD sales. On the one hand, MP3s downloads only reduces sales of legitimate. On the other hand, consumption of free MP3s could lead people to buy CD which they would never have bought othe...
This paper analyzes the impact of online customer reviews on purchasing decisions and the influence of online customer or "peer" reviews compared to other channels of information such as offline press (expert reviews) and trial versions (personal reviews). Using 7,024 answers of an anonymous online survey administrated from June 18 to July 5, 2004,...
Heterogeneous goods are an important issue in timber auctions. Lots are different from each other (inter lots heterogeneity), but they are also made up of heterogeneous wood (intra lot heterogeneity). The hedonic price function appraoch is interesting to infer the appraised timber value since so many characteristics may influence the stumpage price...
We use a unique database including detailed measures of competitive pressure at the firm level to assess the effect of product market competition on R&D intensity levels. We find that traditional measures of competitive pressure such as the number of competitors and market position do not significantly influence R&D intensity levels. However we fin...
In this article, we argue that information diffusion plays a central role in the diffusion of a new technology. We explicitly model social communication channels through a word of mouth mechanism. We suppose that only consumers with similar tastes can exchange information and that the probability of a word of mouth contact is positively related to...
In this article, we show how new online music streaming services such as Spotify and Deezer can deter piracy. These new services are very different from iTunes as they monetize large audiences with low willingness to pay for music. We analyze a simple freemium model in which a firm offers both a free version and a premium version. The firm can rest...
