7th International Industrial Organization Conference
Boston, Massachusetts
3 April 2009- 05 April 2009
Hosted By: the Industrial Organization Society
This conference, hosted by the Industrial Organization Society in Boston on 3-5 April 2009, covered a range of topics in theoretical and empirical industrial organization, including IP, merger, and antitrust issues. NERA Senior Consultant Dr. Yijia (Isabelle) Wang presented a paper on "Price and Competition in the Parking Garage Industry." Dr. Wang noted that, in contrast to standard economics, some theoretical search models imply that overall price would increase with the degree of competition. In her paper, she used a cross-sectional data set in the parking garage industry to examine the effect of competition on price and find competition drives down price. Another finding of the paper is that the degree of curvature of price schedule decreases with competition, implying a greater proportional drop in low-end prices than in high-end prices. Dr. Wang explained this result by the difference in searching behaviors of short-term and long-term consumers.
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