International Industrial Organization Conference Wieboldt Hall ...

International Industrial 

Organization Conference 

April 23 rd and 24 th 2004 

Chicago, Illinois

International Industrial Organization Conference 

Wieboldt Hall 

Kellogg School of Management 

Chicago Campus 

Northwestern University 

Chicago, Illinois 

April 23 rd and 24 th , 2004 

Table of Contents 

Table of Contents......................................................................1 

Welcome...................................................................................2 

Conference Organizers..............................................................3 

General Information..................................................................4 

Schedule of Sessions and Events...............................................6 

2005 Industrial Organization Conference ..................................7 

Industrial Organization Society.................................................8 

Review of Industrial Organization.............................................9 

Northwestern University .........................................................12 

Stigler Center at the University of Chicago .............................14 

Floor Maps of Wieboldt Hall ..................................................15 

Local Restaurant Information..................................................20 

Local Tourism Map.................................................................21 

Session Details........................................................................22 

Index of Participants ...............................................................49 

Sponsors .................................................................................51 

Local Conference Map............................................. Back Cover 

1

Welcome to the International 

Industrial Organization Conference 

Welcome to the second annual International Industrial Organization Conference. We are 

very pleased that the enthusiastic response to the inaugural conference has continued – 

indeed grown significantly – this year. More than 500 papers were submitted from over 

25 countries; the final program contains 300 papers. A glance at the program will show 

that this year’s conference saw an increase in both the number and quality of the 

submitted papers. The spectacular setting in downtown Chicago and the state-of-the-art 

conference facilities at Kellogg should contribute to what we hope will be a pleasant and 

stimulating weekend. 

The International Industrial Organization Conference was founded by, and is run under 

the auspices of, the Industrial Organization Society. The main sponsors this year are 

Northwestern University’s Kellogg School of Management, which is serving as the host 

of the conference, and the University of Chicago’s Stigler Center. In addition to direct 

funding, they both provided invaluable administrative support. Kellogg also donated 

conference facilities. Other sponsors of this year’s conference are The Analysis Group, 

Chicago Partners, Charles River Associates, and Kluwer. We are extremely grateful for 

their generous financial support, without which the conference would not be possible. 

Organizing the conference required the effort and support of many people. We thank the 

members of the Local Arrangements Committee, the Program Committee, and the 

Finance Committee, listed in this program. We acknowledge the enormous efforts of the 

conference’s administrative staff: Kate Dewitt, Kathleen Foley, and Special Event 

Coordinator Erika Marino from Northwestern University, and Suzanne Robblee and 

Cheryl Fonville from Northeastern University. We are grateful to Kellogg’s Director of 

Conference Center, Amish Thakker. Thanks also go to Vicki Ryberg at the Stigler 

Center for administrative assistance. 

Thanks, finally, are due to the participants, whose contribution of time and prestige has 

ensured the success of the conference. Many generously agreed to serve as discussants 

and chairs, in some cases accommodated last minute scheduling changes. 

Plans are underway for IIOC/2005, which will be held next spring at the Georgia Institute 

of Technology in Atlanta. If you are interested in helping out with future year’s 

conferences, for example serving on a committee for next year’s conference, or 

nominating your institution as a host site for future conferences, please contact the 

Industrial Organization Society. We welcome your feedback on this year’s conference 

and look forward to seeing you all again in future years. 

Jim Dana, Local Arrangements Committee Co-Chair 

Chris Snyder, Program Committee Co-Chair 

2

Conference Organizers 

Program Committee: 

Co-Chair: Christopher Snyder (George Washington University) 

Co-Chair: Sam Peltzman (University of Chicago) 

Sara Fisher Ellison (MIT) 

Thomas Hubbard (University of Chicago) 

Amil Petrin (University of Chicago) 

Robin Prager (Federal Reserve Board of Governors) 

Patrick Rey (IDEI, Toulouse) 

Scott Stern (Northwestern University) 

Michael Waterson (University of Warwick) 

Catherine Wolfram (University of California, Berkeley) 

Local Arrangements 

Committee: 

Co-Chair: James Dana (Northwestern University) 

Co-Chair: Christopher Snyder (George Washington University) 

John Kwoka (Northeastern University) 

Finance Committee: 

Chair: Sharon Oster (Yale University) 

Kenneth Boyer (Michigan State University) 

Robert Feinberg (American University) 

Conference Staff: 

Kate Dewitt (Northwestern University) 

Kathleeen Foley (Northwestern University) 

Suzanne Robblee (Northeastern University) 

Event Planning: 

Erika Marino (Northwestern University) 

Amish Thakker (Northwestern University) 

Webmaster: 

Cheryl Fonville (Northeastern University) 

3

General Information 

The conference will be held at the Kellogg School of Management's Wieboldt Hall and 

the Holiday Inn Conference Center in downtown Chicago. The conference site is located 

between Chicago's Michigan Avenue shopping district and the Navy Pier shopping and 

entertainment district, and is within a mile of Chicago's museum campus. 

Registration and Check-In: 

Check-in for those who have pre-registered, as well as on-site registration, will be in the 

lobby of the Holiday Inn during lunch on Friday and breakfast on Saturday, but otherwise 

will be in the first floor lobby of Wieboldt Hall. Please check the map (on the back 

cover) for the location of these buildings. You need to check in order to get your 

conference badge, program, and tickets for Friday and Saturday lunches. 

The registration desk will be open from 10 am until 6 pm on Friday, and from 7 am until 

3:00 pm on Saturday. 

Parking Information: 

The university parking lots are available for $10 per day and allow overnight parking 

(though the lots may close late at night). Conference registrants can park in the lots and 

then purchase the $10 passes at the conference registration desk. Parking at the Holiday 

Inn will cost $22 per day. 

Coats: 

The session rooms all have ample coat hooks, so please bring your coats and bags with 

you or leave them with the concierge at the Holiday Inn City-Centre. We will not be able 

to hold coats and bags for you at the registration desk. 

Publishers: 

Publisher exhibits are on the second floor of Wieboldt Hall. 

Messages: 

There will be a message board in the lobby of Wieboldt Hall by the registration desk. 

4

Hotel: 

Most out of town conference attendees are staying at the Chicago-City Centre Holiday 

Inn: 

Chicago-City Centre (Navy Pier) 

300 E. Ohio St. 

Chicago, IL 60611 

United States 

1-312-787-6100 

www.chicc.com 

Local Transportation: 

The Chicago Transit Authority (CTA) train system is called the 'L', short for "elevated." 

Each line corresponds to a color name. The train provides rapid transit service to 

downtown. The closest 'L' stop to Wieboldt Hall is the Chicago Red Line station 

(Chicago Avenue and State Street). Please go to the Chicago Transit Authority Web site 

(http://www.transitchicago.com/) for further information on traveling by 'L,' including 

train maps, fare prices, and methods of payment and information on Chicago’s bus 

system. You can also call 312/836-7000 

A taxi from to O’Hare airport from Wieboldt Hall or the Holiday Inn costs approximately 

to $30 each way. The primary Chicago Taxi companies are 

American-United Taxi -- 773-248-7600 

Checker Cab -- 312-243-2537 

Yellow Cab -- 312-829-4222 

Flash Cab -- 773-561-1444 

Computers and Audio Visual: 

All of the sessions will be held in classrooms with projectors and a laptop connection. 

The Kellogg School of Management has a wireless network so laptops with wireless 

network cards will have access to the Internet during the conference. 

Kellogg computers will be available for Internet access (but not printing) during the 

conference. 

5

Friday April 23 rd 

Schedule of Sessions and Events 

11:00 AM Registration desk opens at the Holiday Inn 

12:00 PM – 1:15 PM Luncheon at the Holiday Inn 

Keynote Speaker: Rob Porter, Northwestern University 

Detecting Collusion Among Firms 

1:00 PM Registration desk reopens in Weiboldt Hall 

1:30 PM – 3:00 PM Session 1 (3 papers each) 

3:00 PM – 3:30 PM Coffee break (1 st , 2 nd , and 3 rd floors) 

3:30 PM – 5:30 PM Session 2 (4 papers each) 

5:30 PM – 6:30 PM Reception (4 th and 5 th floors) 

Saturday April 24 th 

7:45 AM Registration desk opens at the Holiday Inn 

8:00 AM – 9:15 AM Breakfast at the Holiday Inn 

Keynote Speaker: Paul Joskow, MIT 

Deregulation after 25 Years: 

The Contributions of Economic Research 

9:00 AM Registration desk reopens in Weiboldt Hall 

9:30 AM – 11:00 AM Session 3 (3 papers each) 

11:00 AM – 11:30 AM Coffee break, 1 st , 2 nd , and 3 rd floors 

11:30 AM – 1:00 PM Session 4 (3 papers each) 

1:00 AM – 2:00 PM Lunch (2 nd and 3 rd floors) 


3:30 AM – 4:00 PM Coffee break, 1 st , 2 nd , and 3 rd floors 


6

2005 International Industrial 

Organization Conference 

Plans are underway for next year’s International Industrial Organization Conference. The 

Georgia Institute of Technology's School of Economics (www.econ.gatech.edu) will host 

IIOC 2005, April 1-2. The conference will be held at Georgia Tech's new Global 

Learning and Conference Center (www.glcc.gatech.edu) and hotel 

(www.gatechhotel.com). 

Georgia Tech is located in the city of Atlanta (www.atlanta.com), the biggest city in the 

U.S. Southeast, with a population of over four million. Atlanta has a large international 

airport which serves as the hub for several airlines. A number of large corporations 

(Coca Cola, Southern Company, Delta Airlines, Home Depot, Time-Warner, BellSouth, 

UPS, Newell-Rubbermaid) are headquartered in Atlanta, and a number of international 

firms (Siemens, Porsche) have large regional offices there. 

Atlanta and the State of Georgia offer numerous tourist attractions (www.georgia.org) 

including Atlantic and Gulf of Mexico beaches within a few hours drive. For golf 

enthusiasts, the city of Augusta (www.augusta.com) is nearby. Georgia is also home to 

the premier U.S. cycling race (www.tourdegeorgia.org), held in April. 

Vivek Ghosal (www.econ.gatech.edu/Ghosal.htm), as chair of the local organizing 

committee, is entrusted with providing warm southern hospitality. 

Mark the date on your calendar and consider submitting a paper and/or attending the 

conference. If you are interested in being involved in organizing the conference, please 

contact Vivek Ghosal. We will be looking for top I.O. economists to serve as keynote 

speakers, members of the Program Committee covering certain subject areas, etc. 

We look forward to welcoming you to Atlanta and Georgia Tech, the home of IIOC 

2005! 

7

Industrial Organization Society 

The Industrial Organization Society (IOS) was founded in 1972 by Stanley Boyle, 

working closely with Willard Mueller. The aim was to promote research on competition 

and market power in real-world markets, and on antitrust and regulatory policies. Boyle 

headed the IOS, with a governing Board of distinguished scholarly economists. 

The IOS is responsible for the Review of Industrial Organization and more recently has 

initiated annual awards for the Best Paper by a Junior Scholar in the Review, as well as a 

Distinguished Fellow Award presented to a leading scholar in the field. The IOS has 

long sponsored sessions at the meetings of the American Economics Association and the 

Southern Economics Association. More recently, it has launched this International 

Industrial Organization Conference in order to accommodate the needs and interests of 

the burgeoning field. 

Officers 

President: Robert Feinberg American University 

Vice-President: Christopher Snyder George Washington University 

Secretary-Treasurer: Kenneth Boyer Michigan State University 

Board of Directors 

Kenneth Boyer 

Robert Feinberg 

John Kwoka 

Stephen Martin 

Robert Masson 

Dennis Mueller 

John Scott 

William Shepherd 

Christopher Snyder 

Michigan State University 

American University 

Northeastern University 

Purdue University 

Cornell University 

University of Vienna 

Dartmouth College 

U Mass.-Amherst (emeritus) 

George Washington University 

Past Presidents 

Robert Masson Cornell University 2002-2003 

Stephen Martin University of Amsterdam 2000-2001 

John Scott Dartmouth College 1999 

John Kwoka George Washington University 1998 

Paul Geroski London Business School 1997 

Carl Shapiro University of California, Berkeley 1996 

Richard Gilbert University of California, Berkeley 1995 

Dennis Mueller University of Vienna 1994 

F. M. Scherer Kennedy School of Government, Harvard University 1993 

William Comanor University of California, Santa Barbara 1992 

William Shepherd University of Massachusetts-Amherst 1991 

8

Review of Industrial Organization 

The Review of Industrial Organization, affiliated with the Industrial Organization Society, is 

celebrating its thirtieth year of publication with subscribers in upwards of twenty countries. 

Throughout its history, the Review has provided an outlet for empirical or applied research, while 

welcoming theoretical work that either originates with a real-world puzzle or has clear 

implications for an applied question. The Review is published by Kluwer Academic Press and 

appears in two volumes of four issues each per year. 

The General Editor of the Review since 2001 has been John Kwoka of Northeastern University. 

At present the Review has nine Co-Editors and an Editorial Board of thirteen members listed 

below. There are, in addition, special editors in charge of several new features that periodically 

appear in the Review. The Review welcomes articles on all aspects of industrial organization, 

broadly defined, as well as symposia and special topics. Further information about the Review 

and submission guidelines can be found through www.kluweronline.com. 

General Editor 

John E. Kwoka, jr. 


Co-Editors 

Sara Fisher Ellison MIT John T. Scott Dartmouth College 

Jeroen Hinloopen University of Amsterdam Fiona Scott Morton Yale University 

Helen Louri Athens Univ. of Ec. and Bus. Christopher Snyder George Washington Univ. 

F. M. Scherer Princeton University Lawrence White New York University 

Editorial Board 

John Howard Brown Georgia Southern University Dennis Mueller University of Vienna 

Robert Feinberg American University Sharon Oster Yale University 

Vivek Ghosal Georgia Tech. Michael Pollitt Cambridge University 

Rachael Goodhue U. C. Davis Robin Prager Federal Reserve Board 

Josh Lerner Harvard University Laura Rondi CERIS-CNR 

Stephen Martin Purdue University David Round Univ. of South Australia 

Michael Mazzeo Northwestern University Michael Salinger Boston University 

Special Editors 

Antitrust and Regulatory Update Lawrence White New York University 

Industry Issues Victor Tremblay Oregon State University 

Conference Special Issue Christopher Snyder George Washington University 

Consulting William Shepherd U Mass Amherst (emeritus) 

Editorial Assistant 

Suzanne Robblee 


9


Awards 

Distinguished Fellow: 

2003 AWARDS 

Dennis Mueller 

University of Vienna 

Best Paper by a Junior Author in the past year’s RIO: 

Michael Mazzeo 


“Competition and Service Quality in the U.S. 

Airline Industry” 

Distinguished Fellow: 

PREVIOUS AWARD RECIPIENTS 

2002 William Comanor University of California, Santa Barbara 

2001 William Shepherd University of Massachusetts-Amherst 

2000 Richard Caves Harvard University 

1999 Jean Tirole IDEI, Toulouse 

1998 F. M. Scherer Harvard University 

Best Paper by a Junior Author: 

2002 Claudio Piga "Debt and Firms’ Relationships: The Italian 

Evidence” 

2001 Jozef Konings 

Patrick Paul Walsh 

“The Impact of Product Market Competition 

on Employment Determination of Unionised 

and Non-Unionised Firms" 

2000 In Kwon Lee “Non-Cooperative Tacit Collusion, 

Complementary Bidding & Incumbency 

Premium” 

1999 Philippe Cyrenne “On Antitrust Enforcement and the Deterrence 

Of Collusive Behavior” 

1998 Rachael Goodhue “Sustaining Collusion via a Fuzzy Trigger” 

10


Symposium Publication Opportunity 

Description: Presenters at the International Industrial Organization Conference 

have the opportunity to submit their papers to a special symposium issue of the 

Review of Industrial Organization devoted to the conference. Symposium papers 

will "count" just like regular publications in the Review of Industrial Organization 

since they will be subject to the same editorial standards and referee review. The 

symposium will also contain the text of the keynote speaker's presentations 

(included at the discretion of the keynote speakers; these will not be refereed). 

Benefits: Besides providing a dedicated outlet for conference papers, the 

symposium will provide the benefit of rapid decision time and rapid publication 

conditional on acceptance. 

Process: Of the submitted papers, a number will be selected by the editor to be 

refereed. Papers that pass through the refereeing process and are accepted will be 

published together in the symposium issue around November 2004. Authors who 

do not choose to submit their papers for this symposium issue, as well as authors 

whose papers were submitted to the symposium but not selected to be refereed, are 

not precluded from later submitting their papers to be considered for a regular 

issue of the Review of Industrial Organization. 

Editor: Christopher Snyder, Co-Editor of the Review, will edit the symposium. 

Submission: The deadline for submission is June 15, 2004. Submissions should 

be emailed in PDF format to Christopher Snyder, csnyder@gwu.edu. 

11


Northwestern University is a private institution founded in 1851 to serve the Northwest 

Territory, an area that now includes the states of Ohio, Indiana, Illinois, Michigan, 

Wisconsin, and part of Minnesota. In 1853 the founders purchased a 379-acre tract of 

land on the shore of Lake Michigan 12 miles north of Chicago. They established a 

campus and developed the land near it, naming the surrounding town Evanston in honor 

of one of the University’s founders, John Evans. After completing its first building in 

1855, Northwestern began classes that fall with two faculty members and 10 students. 

Today Northwestern is a major private research university located on lakefront campuses 

in Evanston and Chicago. Approximately 2,300 full-time faculty teach 13,500 full-time 

students, 7,700 of whom are undergraduates. 

A freshman class numbering more than 1,900 is selected from nearly 15,000 candidates. 

Sixty percent enroll with financial aid. Women constitute approximately half the 

undergraduate population; more than a fourth of the undergraduates are minority 

students. 

Students come to Northwestern from all 50 states. Forty-four percent of this year's 

entering class is from the Midwest, 21 percent from the East, 18 percent from the West, 9 

percent from the South, and 7 percent from foreign countries. 

The median secondary school ranking of the students in the current freshman class is in 

the 96th percentile. Moreover, the median combined score of the Scholastic Aptitude Test 

for the class as a whole is approximately 1400. More than 40 percent of the freshman 

class was recognized by the National Merit Corporation for distinguished academic 

achievement. 

The Northwestern student body ranks among the top 15 schools nationally in the number 

of National Merit and National Achievement scholars. About one-third of the freshman 

class received some form of advanced placement upon entrance. 

Although its primary function is academic, the University also provides a special kind of 

community within the cities of Evanston and Chicago. Cultural, social, and athletic 

events are available on campus. Extensive nonacademic programming is offered through 

Norris University Center, the residential colleges, and various residential groups. The fine 

and performing arts complex further enriches the Northwestern environment. 

12


Located in the Chicago suburb of Evanston, Illinois, Northwestern University 

opened its School of Commerce in 1908 as an evening program for Chicago area 

business professionals. In 1919, Northwestern established a full-time 

undergraduate business program on its Evanston campus. This program flourished 

until 1966, when the faculty, recognizing the growing importance of MBA 

programs, made the risky decision to discontinue it to focus exclusively on 

graduate studies. Early in 1979, John L. and Helen Kellogg made a gift of $10 

million to the school. In honor of this generosity, the school was renamed the 

Kellogg Graduate School of Management. 

During the 1980s, the Kellogg School's unique emphasis on teamwork and its 

innovative curriculum began to receive national attention. Kellogg was named the 

top business school in the United States in the first-ever ranking published in the 

Wall Street Journal in 1985. In turn, Business Week rated Kellogg No. 1 in 1988, 

1990, 1992 and 2002, and No. 2 in 1994, 1998 and 2000. Also in 2002, Kellogg 

was named the top MBA program in the world by The Economist Intelligence 

Unit, a division of The Economist Group. The 2002 U.S. News & World Report 

once again ranked the Kellogg Executive MBA program #1 and its part-time MBA 

program #2 in the United States. 

13

The George J. Stigler Center for the 

Study of the Economy and the State 

George Stigler founded the Center for the Study of the Economy and the State at 

the University of Chicago in 1977. It has from the beginning been a joint 

enterprise of economists and legal scholars at the Graduate School of Business, 

Department of Economics and Law School of the University of Chicago. In 1982, 

George Stigler received the Nobel Memorial Prize in Economic Science. The 

Center was renamed in George Stigler’s memory after his death in 1991. 

The Stigler Center is dedicated to the study of the effects of political life on 

economic life and the reciprocal effects of economic life on political life. That is 

not a very restrictive program, since there are few areas of our lives where neither 

economics nor the state intrudes. To carry out its mission, the Stigler Center 

supports research of faculty at the University of Chicago and of visitors from other 

academic institutions. The Center publishes a Working Paper series, and it 

promotes the dissemination of this research to a wider audience via conferences, 

lectures, and public policy forums. 

The Stigler Center contributes importantly to the continuity and growth of 

‘Chicago Economics,’ which is known worldwide for two attributes: 

• A tough-minded professional style that views economic theory not as an 

end but as a tool to assist in understanding the real world 

• A lively appreciation for the working of private markets 

More information may be found at the Stigler Center’s website: 

http://gsbwww.uchicago.edu/research/cses/ 

Director: Sam Peltzman (sam.peltzman@gsb.uchicago.edu) 

Associate Director: Randall Kroszner (randy.kroszner@gsb.uchicago.edu) 

14

First Floor of Wieboldt Hall 

15

Second Floor of Wieboldt Hall 

16

Third Floor of Wieboldt Hall 

17

Fourth Floor of Wieboldt Hall 

18

Fifth Floor of Wieboldt Hall 

19

Local Restaurants List 

(from Zagat’s Online for Chicago’s “Near North” neighborhood) 

Name Location Street/s Telephone Cuisine Cost 

American Girl Place 111 E. Chicago Ave. Between Michigan (312) 943-9400 American $23 

Cafe 

and Rush 

(Traditional) 

AVENUES 108 E. Superior St. Between Michigan (312) 573-6754 French (New) $70 

and Rush 

Mediterranean 

Seafood 

Bistro 110 110 E. Pearson St. Between Michigan (312) 266-3110 French (Bistro) $35 

and Rush 

Buca di Beppo 521 N. Rush Street Grand Ave. (312) 396-0001 Italian 

$23 

(Southern) 

California Pizza 52 E. Ohio street Between Wabash (312) 787-6075 Pizza $18 

Kitchen 

and Rush 

Cerise 521 N. Rush St., 5 th Floor Grand Ave. (312) 645-1500 French (Bistro) $46 

Mediterranean 

Cielo 

676 N. Michigan Ave., 4 th Between Huron (312) 944-7676 American (New) $34 

Floor, Omni Chicago Hotel and Erie 

Italian 

(Northern) 

Heaven on Seven 600 N. Michigan Avenue, Enter on Rush and (312) 280-7774 Cajun/Creole $23 

JOE’S SEAFOOD, 

PRIME STEAK & 

STONE CRAB 

Lawry’s The Prime 

2 nd Floor 

Ohio 

60 E. Grand Ave. Rush St. (312) 379-5637 Seafood $47 

100 E. Ontario St. Rush St. (312) 787-5000 American 

Rib 

(Traditional) 

Mike Ditka’s 100 E. Chestnut St. Michigan Ave. (312) 587-8989 American 

(Traditional) 

Steakhouses 

Molive 107 E. Delaware Pl. Michigan Ave. (312) 573-6300 American (New) $44 

NOMI 800 N. Michigan Ave. Chicago Ave. (312) 239-4030 French (New) $61 

Oak Tree 

900 N. Michigan Ave., 6 th Between Delaware (312) 751-1988 American $19 

Floor 

and Walton 

(Traditional) 

Pane Caldo 72 E. Walton St. Between Michigan (312) 649-0055 Italian 

$44 

and Rush 

(Northern) 

Phil Stefani’s 437 437 N. Rush St. Hubbard St. (312) 222-0101 Italian (N&S) $38 

Rush 

Steakhouses 

RL 115 E. Chicago Ave. Michigan Ave. (312) 475-1100 American (New) $44 

SEASONS 

120 E. Delaware Pl., 7 th Between Michigan (312) 649-2349 American (New) $65 

Floor 

and Rush 

SEASONS CAFÉ 120 E. Delaware Pl., 7 th Between Michigan (312) 649-2349 American $38 

Floor 

and Rush 

(Traditional) 

Su Casa 49 E. Ontario St. Between Rush and (312) 943-4041 Mexican $24 

Wabash 

Tuscany 1014 W. Taylor St. Morgan St. (312) 829-1990 Italian (N&S) $33 

Uno Chicago Grill 29 E. Ohio Wabash Ave. (312) 321-1000 Pizza $19 

20 

$41 

$37

Local Tourism Map 

21

I.A. Theories of Collusion 

Friday, 1:30-3:00 p.m., Wieboldt 147 

Chair: Michael Whinston, Northwestern University 

F1A1 

Dan Kovenock, Purdue University Krannert School 

of Management 

"Price Wars" (with Michael Baye, Indiana University 

Kelley School of Business) 

Discussant: Michael Whinston, Northwestern 

University 

I.C. Access Pricing Models I 


Chair: Ralf Dewenter, University of the Federal 

Armed Forces, Hamburg 

F1C1 

Roger Alexander, Senbazuru Group 

"A Tractable Cross-Nested Logit Model for 

Evaluating Two-Way Interconnection Competition 

with Multiple Network Subscription" 

Discussant: 

F1A2 

Charles Thomas, University of Rochester Simon 

School of Business 

"The Risk of Contagion from Multimarket Contact" 

(with Robert Willig, Princeton University) 

Discussant: Joseph Harrington, Johns Hopkins 

University 

F1C3 

Laura Meriluto, University of Canterbury 

"Caller and Receiver Pays Usage Pricing and Access 

Externalities" 

Discussant: Ralf Dewenter, University of the Federal 

Armed Forces, Hamburg 

F1A3 

Emmanuel Dechenaux, Purdue University Krannert 

School of Management 

"Tacit Collusion and Capacity Withholding in 

Repeated Uniform Price Auctions" (with Dan 

Kovenock Purdue University Krannert School of 

Management) 

Discussant: Sebastien Mitraille, University of Bristol 

I.B. Theory of Organizations 


Chair: Alessandro Pavan, Northwestern University 

F1B1 

F1B2 

Michael Raith, University of Rochester Simon 


"Specific Knowledge and Performance 

Measurement" 

Discussant: Marcelo Rezende, University of Chicago 

Peter Eso, Northwestern University Kellogg School 

of Management 

"The Price of Advice: A Model of Consulting" 

(with Balazs Szentes, University of Chicago) 

Discussant: Eloic Peyrache, HEC School of 

Management, Paris 

I.D. Nonlinear Pricing, Bargaining, and Bundling: 

Some Implications for Antitrust 


Chair: Daniel O'Brien, U. S. Federal Trade 

Commission 

F1D1 

F1D2 

F1D3 

Patrick DeGraba, U. S. Federal Trade Commission 

"Tying and Monopoly Leverage in Wholesale 

Markets" 

Discussant: Dong Chen, Indiana University Kelley 


Daniel O'Brien, U. S. Federal Trade Commission 

"Bargaining, Bundling, and Clout: The Portfolio 

Effects of Horizontal Mergers" 

Discussant: Gabriella Chiesa, University of Bologna 

Greg Shaffer, University of Rochester Simon School 

of Business 

"All Units Discounts in Retail Contracts" 

Discussant: Michael Salinger, Boston University 


F1B3 

Heski Bar-Isaac, New York University Stern School 

of Business 

"Efficiency in Expectation and Reputations for 

Excellence and Ineptitude" (with Juanjo Ganuza, 

University Pompeu Fabra) 

Discussant: Alessandro Pavan, Northwestern 

University 

22

I.E. Measuring Network Externalities 


Chair: Adam Copeland, Federal Reserve Board of 

Governors 

F1E1 

F1E2 

F1E3 

Hiroshi Ohashi, University of British Columbia and 

University of Tokyo 

"Identifying Network Effects in U.S. Video Games, 

1994-2001" (with Matthew Clements, University of 

British Columbia and University of Texas) 

Discussant: Adam Copeland, Federal Reserve Board 

of Governors 

Minsoo Park, Boston University 

"Diffusion of a New Product under Network Effects: 

The Case of U.S. DVD Player Market" (with Firat 

Inceoglu, Boston University) 

Discussant: Loren Smith, University of Virginia 

Tatsuo Tanaka, Keio University 

"Network Externalities in the Japanese Market for 

Routers" (with Reiko Murakami, Fair Trade 

Commission of Japan) 

Discussant: Sofronis Clerides, University of Cyprus 

I.F. Empirical Studies of Internet Pricing 


Chair: Avi Goldfarb, University of Toronto Rotman 


F1F1 

F1F2 

F1F3 

Jihui (Susan) Chen, Indiana University Kelley School 

of Business 

"Differential Pricing on the Internet: Evidence from 

the Online Market for Air Travel" 

Discussant: Avi Goldfarb, University of Toronto 

Rotman School of Management 

Patrick Scholten, Bentley College 

"The Propensity to Advertise Prices Online: Evidence 

from Shopper.com" 

Discussant: Christopher Adams, U.S. Federal Trade 

Commission 

Maria Arbatskaya, Emory University 

"Equilibrium Timing of Price Announcements, with 

an Application to Internet Mortgage Data" (with 

Michael Baye, Indiana University Kelley School of 

Business) 

Discussant: Joe Chen, Johns Hopkins University 

I.G. The Curious Dynamics of Retail Gasoline Prices 


Chair: Chuck Moul, Washington University St. Louis 

F1G1 

F1G2 

F1G3 

Zhongmin Wang, Monash University 

"Resale Price Maintenance, Price Leadership and 

Edgeworth Price Cycle in Retail Gasoline Markets" 

Discussant: Emek Basker, University of Missouri 

George Deltas, University of Illinois 

"Retail Gasoline Price Response Stickiness and 

Asymmetry to Wholesale Price Changes: The Effects 

of Local Market Power" 

Discussant: Chuck Moul, Washington University St. 

Louis 

Bart Wilson, George Mason University 

"Experimental Gasoline Markets" (with Cary Deck, 

University of Arkansas) 

Discussant: Jon Sturluson, University of Iceland 

I.H. Empirical Methods for Antitrust Analysis 


Chair: Daniel Hosken, U. S. Federal Trade 

Commission 

F1H1 

F1H2 

F1H3 

Luke Froeb, U.S. Federal Trade Commission 

"Variance and Smoothness Screens for Collusion" 

(with Rosa Abrantes-Metz, U. S. Federal Trade 

Commission, and Christopher Taylor, U. S. Federal 

Trade Commission) 

Discussant: George Deltas, University of Illinois 

David Schmidt, U. S. Federal Trade Commission 

"The Price Effects of a Merger of Complements: The 

Case of Peanut Butter and Jelly" (with Hajime 

Hadeishi, U. S. Federal Trade Commission) 

Discussant: Michael Sandfort, U. S. Department of 

Justice 

Daniel Hoskin, U. S. Federal Trade Commission 

"The Economic Effects of the Marathon-Ashland 

Joint Venture" (with Christopher Taylor, U. S. 

Federal Trade Commission) 

Discussant: Mark Manuszak, Carnegie Mellon 

University 

23

I.I. Media Markets and Bias 


Chair: Simon Anderson, University of Virginia 

I.K. Foreign Direct Investment 


Chair: Ralf Martin, London School of Economics 

F1I1 

David Balan, U. S. Federal Trade Commission 

"Media Mergers and the Ideological Content of 

Programming" (with Patrick DeGraba, U. S. Federal 

Trade Commission, and Abraham Wickelgren, U. S. 

Federal Trade Commission) 

Discussant: Simon Anderson, University of Virginia 

F1K1 

Rita Almeida, World Bank and Universitat Pompeu 

Fabra 

"The Effects of Foreign Owned Firms on the Labor 

Market" 

Discussant: Ralf Martin, London School of 

Economics 

F1I2 

Anthony Dukes, University of Aarhus 

"On the Profitability of Media Mergers" 

(with Ester Gal-Or, University of Pittsburgh) 

Discussant: Dan Richards, Tufts University 

F1K2 

Susana Iranzo, University of Sydney 

"FDI Model of Entry and Acquisition of Firm- 

Specific Assets " 

Discussant: Nidhiya Menon, Brandeis University 

F1I3 

Frode Steen, Norwegian School of Economics and 

Business Administration 

"Branding News with Political Opinion" (with Gorm 

Gronnevet, Norwegian School of Economics and 

Business Administration and IDEI, Toulouse) 

Discussant: Mark McCabe, Georgia Institute of 

Technology 

I.J. Productivity 


Chair: Bruce Peterson, Washington University 

F1J1 

John Howard Brown, Georgia Southern University 

"Survivorship and Globalization" 

Discussant: Bruce Peterson, Washington University 

F1K3 

Thitima Puttitanun, San Diego State University 

"Intellectual Property Rights and Multinational 

Firms' Modes of Entry" 

Discussant: Enrico Santarelli, University of Bologna 

I.L. Airline Economics I 


Chair: John Siegfried, Vanderbilt University 

F1L1 

Todd Sinai, University of Pennsylvania, Wharton 


"Why Do Airlines Systematically Schedule Their 

Flights To Arrive Late?" (with Christopher Mayer, 

Columbia University School of Business) 

Discussant: John Siegfried, Vanderbilt University 

F1J2 

Marcelo Torres, University of California, Davis 

"Water Production and Distribution in the U.S.: The 

Bigger the Better?" (with Catherine Morrison Paul, 

University of California, Davis) 

Discussant: Wesley Wilson, University of Oregon 

F1L2 

Silke Januszewski, University of California at San 

Diego 

"The Effect of Air Traffic Delays on Airline Prices" 

Discussant: Ali Dadpay, University of Wisconsin- 

Milwakee 

F1L3 

Mara Lederman, University of Toronto Rotman 


"Do Enchancements to Loyalty Programs Affect 

Demand? The Impact of International Frequent Flyer 

Partneships on Domestic Airline Demand" 

Discussant: Matt Clements, University of Texas 

24

I.M. Does Geography Matter? 


Chair: Margaret Slade, University of Warwick 

F1M1 

John McHale, Queen's University 

"Gone But Not Forgotten: Knowledge Flows, Labor 

Mobility, and Enduring Social Relationships" (with 

Ajay Agrawal, University of Toronto, and Iain 

Cockburn, Boston University School of 

Management) 

Discussant: Niko Matouschek, Northwestern 

University Kellogg School of Management 

I.O. Empirical Studies of the Interaction between 

Capital and Product Markets 


Chair: Anne Gron, Northwestern University Kellogg 


F1O1 

Abigail Hornstein, New York University Stern 


"Do Multinational Enterprises Use Capital More 

Effectively?" 

Discussant: Anne Gron, Northwestern University 


F1M2 

F1M3 

Yukako Ono, Federal Reserve Bank of Chicago 

"Spatial Organization of Firms: The Decision to Split 

Production and Admistration" (with Kristin Aarland, 

Brown University, Jim Davis, NBER, J. Vernon 

Henderson, Brown University) 

Discussant: Margaret Slade, University of Warwick 

Thomas Klier, Federal Reserve Bank of Chicago 

"Where the Headquarters Are: Evidence from Large 

Public Companies 1990-2000" (with Tyler Diacon, 

Marakon Associates) 

Discussant: Michael Waterson, University of 

Warwick 

F1O2 

F1O3 

Claudio Piga, Nottingham University Business 

School 

"Credit Rationing in High-Tech Firms and Sample 

Selection" (with Gianfranco Atzeni, University of 

Sassari) 

Discussant: Chiara Criscuolo, University College 

London 

Magnus Lundin, Uppsala University 

"The Behavior of Prices and Investment: An 

Empirical Analysis of Plant Level Price Data" 

(with Nils Gottfries, Uppsala University, and Tomas 

Lindstrom, Riksbanken) 

Discussant: Aidan Hollis, University of Calgary 

I.N. Seller Reputation 


Chair: Ginger Jin, University of Maryland 

F1N1 

F1N2 

F1N3 

Phillip Leslie, Stanford University Graduate School 

of Business) 

"Reputational Incentives for Restaurant Hygiene" 

(with Ginger Jin, University of Maryland) 

Discussant: Mara Lederman, University of Toronto 


Ali Hortacsu, University of Chicago 

"The Dynamics of Seller Reputation: Theory and 

Evidence from eBay" (with Luis Cabral, New York 

University) 

Discussant: Jeffrey Livingston, Bentley College 

Scott Masten, University of Michigan Business 

School 

"Durability, Reliability and the Limits of Reputation" 

(with Renata Kosova, University of Michigan 

Business School) 

Discussant: Ginger Jin, University of Maryland 

I.P. Offsetting Behavior and Safety Regulation 30 

Years Later 


Chair: Glenn Blomquist, University of Kentucky 

F1P1 

F1P2 

F1P3 

Rajeev Dehejia, Columbia University 

"The Effect of Automobile Insurance and Accident 

Liability Laws in Traffic Fatalities" 

(with Alma Cohen, National Bureau of Economic 

Research) 

Discussant: Tom DeLeire, University of Chicago 

Harris School 

Sam Peltzman, University of Chicago 

"Offsetting Behavior and Medical 

Breakthroughs" Figures Tables 

Discussant: Glenn Blomquist, University of 

Kentucky 

John Hause, SUNY Stony Brook 

"A Production Function Model of the “Offsetting 

Behavior' Effect of Regulatory and Safety Policies on 

Victim Loss" 

Discussant: Tom DeLeire, University of Chicago 

Harris School 

25

I.Q. Empirical Studies of Technology Alliances 


Chair: Robert Hunt, Federal Reserve Bank of 

Philadelphia 

F1Q1 

F1Q2 

Suzanne Majewski, Harvard Law School 

"How Do Consortia Organize Collaborative R&D? 

Evidence from the National Cooperative Research 

Act" (with Dean Williamson, U.S. Department of 

Justice) 

Discussant: Robert Hunt, Federal Reserve Bank of 

Philadelphia 

Andreas Fier, ZEW, Mannheim, Germany 

"Public Funding of R&D, Collaboration, and 

Innovation Output: Comparing Finland and 

Germany" (with Dirk Czarnitzki, ZEW, Mannheim, 

Germany, and Bernd Ebersberger, VTT Technology 

Studies) 

Discussant: Yi Deng, Southern Methodist University 

II.A. Antitrust Policy 


Chair: David Besanko, Northwestern University 


F2A1 

Patrick Rey, IDEI, Toulouse 

"The Impact of Leniency Programs on Cartels" 

(with Cecile Aubert, University of Cambridge, and 

William Kovacic, George Washington University) 

Discussant: Giancarlo Spagnolo, University of 

Mannheim 

II.B. Theory of the Firm 


Chair: Joshua Gans, University of Melbourne 

F2B1 

F2B2 

F2B3 

F2B4 

Thomas Hubbard, University of Chicago Graduate 


"Hierarchies and the Organization of Specialization" 

(with Luis Garicano, University of Chicago Graduate 

School of Business) 

Discussant: Christopher Ruebeck, Lafayette College 

Nisvan Erkal, University of Melbourne 

"Buyer-Supplier Interaction, Asset Specificity, and 

Product Choice" 

Discussant: Michael Raith, University of Rochester 

Simon School of Business 

Andreas Roider, University of Bonn 

"Delegation of Authority as an Optimal (In)Complete 

Contract" 

Discussant: Peter Eso, Northwestern University 


Xinyu Hua, Northwestern University Kellogg School 

of Management 

"Strategic Ex-ante Contracts: Rent Extraction and 

Opportunity Costs" 

Discussant: Joshua Gans, University of Melbourne 

II.C. Access Pricing Models II 


Chair: Roger Alexander, Senbazuru Group 

F2A2 

Nicholas Economides, New York University Stern 


"Competition Policy in Network Industries: An 

Introduction" 

Discussant: David Besanko, Northwestern 


F2C1 

Ralf Dewenter, University of the Federal Armed 

Forces, Hamburg 

"Mobile Termination with Asymmetric Networks" 

(with Justus Haucap, University of the Federal 

Armed Forces, Hamburg) 

Discussant: Roger Alexander, Senbazuru Group 

F2A3 

Michael Whinston, Northwestern University 

"Antitrust in Innovative Industries" (with Ilya Segal, 

Stanford University) 

Discussant: Arun Sundararajan, New York 

University Stern School of Business 

F2C2 

Roberto Roson, Universita Ca Foscari di Venezia 

"Competition Between Payment Networks" (with 

Sujit Chakravorti, Universita Ca Foscari di Venezia) 

Discussant: Laura Meriluto, University of 

Canterbury 

26

II.D. Price Discrimination and Bundling 


Chair: Patrick DeGraba, U.S. Federal Trade 

Commission 

F2D1 

F2D2 

F2D3 

David Evans, LECG 

"The Basic Economics of Most Bundling and Tying" 

(with Michael Salinger, Boston University School of 

Management) 

Discussant: Patrick DeGraba, U.S. Federal Trade 

Commission 

Roger Betancourt, University of Maryland 

"Multi-Product Retailing" 

Discussant: David Malueg, Tulane University 

David Malueg, Tulane University 

"Bounding the Relative Profitability of Price 

Discrimination" (with Christopher Snyder, George 

Washington University and University of Chicago) 

Discussant: 

II.E. Structural Models with Multiple Equilibria 


Chair: Brian McManus, Washington University Olin 


F2E1 

F2E2 

F2E3 

Mark Manuszak, Carnegie Mellon University 

"Endogenous Market Structure with Discrete Product 

Differentiation and Multiple Equilibria: An Empirical 

Analysis of Competition Between Bansk and Thrifts" 

(with Andrew Cohen, Federal Reserve Board of 

Governors) 

Discussant: Mike Mazzeo, Northwestern University 


Jeremy Fox, University of Chicago 

"Estimating Payoff Functions from Stable Matches" 

(with Patrick Bajari, Duke University) 

Discussant: Andrew Sweeting, MIT 

Andrew Sweeting, MIT 

"Coordination Games, Multiple Equilibria, and the 

Timing of Radio Commercials" 

Discussant: Brian McManus, Washington University 

Olin School of Business 

II.F. Adoption of Internet Techology 


Chair: Avi Goldfarb, University of Toronto Rotman 


F2F1 

F2F2 

F2F3 

F2F4 

Avi Goldfarb, University of Toronto Rotman School 

of Management 

"The (Teaching) Role of Universities in the Diffusion 

of the Internet" 

Discussant: Jihui (Susan) Chen, Indiana University 

Kelley School of Business 

Ron Borzekowski, Federal Reserve Board of 

Governors 

"In Through the Out Door: The Role of Outsourcing 

in the Adoption of Internet Technology by Credit 

Unions" 

Discussant: Yoonhee Tina Chang, University of East 

Anglia 

Yoonhee Tina Chang, University of East Anglia 

"Dynamics of Banking Technology Adoption: An 

Application to Internet Banking" 

Discussant: Maria Arbatskaya, Emory University 

Shane Greenstein, Northwestern University Kellogg 


"How Did Location Affect the Adoption of the 

Commercial Internet? Global Village, Urban Density 

and Industry Composition" (with Chris Forman, 

Carnegie Mellon University, and Avi Goldfarb, 

University of Toronto Rotman School of 

Management) 

Discussant: Patrick Scholten, Bentley College 

II.G. Empirical Models of Inventory and Investment 


Chair: Andrew Kleit, Pennsylvania State University 

F2G1 

F2G2 

Kenneth Corts, University of Toronto Rotman School 

of Management 

"Stacking the Deck: Idling and Reactivation of 

Capacity in Offshore Drilling" 

Discussant: Zhongmin Wang, Monash University 

Kevin Forbes, Catholic University 

"Natural Gas Prices, Price Volatility, and Investment 

in the Upstream Natural Gas Industry" (with Ernest 

Zampelli, Catholic University) 

Discussant: Andrew Kleit, Pennsylvania State 

University 

F2G3 

Eugene Choo, University of Toronto 

"Learning About Product Quality from Inventory 

Dynamics" (with Johannes Van Biesebroeck, 

University of Toronto) 

Discussant: Blandina Oliveira, Polytechnic Institute 

of Leiria 

27

II.H. Demand Estimation 

Friday, 3:30 a.m.-5:30 p.m., Wieboldt 203 

Chair: Elizabeth Klee, Federal Reserve Board of 

Governors 

F2H1 

F2H2 

Massimiliano Piacenza, Ceris-CNR 

"Taste or Reputation: What Drives Market Prices in 

the Wine Industry? Estimation of a Hedonic Model 

for Italian Premium Wines" (with Luigi Benfratello, 

University of Turin, and Stefano Sacchetto, Bocconi 

University) 

Discussant: Shinn-Shyr Wang, University of 

Wisconsin 

Elizabeth Klee, Federal Reserve Board of Governors 

"The Transaction Demand for Money: A Discrete 

Choice Approach" 

Discussant: Monica Hartmann, University of St. 

Thomas 

II.J. Panel Studies of Manufacturing in Middle 

Income Countries 


Chair: Tony Cockerill, University of Durham 

Business School 

F2J1 

F2J2 

Seyit Cilasun, Atilim University 

"Entry Behavior in Turkish Manufacturing Industries: 

A Dynamic Panel Data Analysis" (with Burak 

Gunalp, Hacettepe University) 

Discussant: Jorge Tovar, University of California, 

Berkeley 

Johannes Fedderke, University of the Witwatersrand 

"Mark-up Pricing in South African Industry, 1970- 

1997: Applying Dynamic Heterogeneous Panel 

Estimators to a Middle Income Country Context" 

Discussant: Tony Cockerill, University of Durham 


F2H3 

F2H4 

Margaret Slade, University of Warwick 

"The Role of Economic Space in Decision Making" 

Discussant: Andrew Eckert, University of Alberta 

Shinn-Shyr Wang, University of Wisconsin 

"An Empirical Analysis of Strategic Pricing and 

Advertising for Differentiated Products" (with Tirtha 

Dhar, University of British Columbia Sauder School 

of Business, and Kyle Stiegert, University of 

Wisconsin) 

Discussant: Massimiliano Piacenza, Ceris-CNR 

F2J3 

Todor Gradev, Trinity College Dublin 

"Industry Dynamics and Productivity Growth in 

Bulgarian Manufacturing: Evidence from Firm Level 

Data (1995-2001)" 

Discussant: Mustapha Sadni-Jallab, University 

Lumiere Lyon 

II.K. Multinational Enterprises 


Chair: Enrico Santarelli, University of Bologna 

II.I. Models of the Software Market 


Chair: David Waterman, Indiana University 

F2I1 

F2I2 

Juergen Bitzer, Free University Berlin 

"Competition and Innovation in a Technology Setting 

Software Duopoly" (with Philipp Schroeder, Aarhus 


Discussant: Ibrahiim Bayaan, Emory University 

Sougata Poddar, National University of Singapore 

"On Software Piracy When Piracy Is Costly" 

Discussant: David Blackburn, Harvard University 

F2K1 

F2K3 

Nidhiya Menon, Brandeis University 

"Investment Location Decisions Under Regulatory 

and Market Constraints: An Analysis of Foreign and 

Domestic Investment in India" (with Paroma Sanyal, 

Brandeis University) 

Ralf Martin, London School of Economics) 

"Multinationals and US Productivity Leadership: 

Evidence from Great Britain" (with Chiara Criscuolo, 

University College London) 

Discussant: Olivier Bertrand, University of Paris 

F2I3 

F2I4 

Fabio Manenti, Universita di Padova 

"Open Source vs. Closed Source Software: Public 

Policies in the Software Market" (with Stefano 

Comino, Universita di Padova) 

Discussant: David Waterman, Indiana University 

Richard Schmidtke, University of Munich 

"Private Provision of a Complementary Public Good" 

Discussant: Sougata Poddar, National University of 

Singapore 

28

II.L. Pharmaceuticals 


Chair: Margaret Kyle, Carnegie Mellon University 

F2L2 

F2L3 

F2L4 

Alan Marco, Vassar College 

"Size and Duration Effects of Post-Patent 

Pharmaceutical Pricing: Evidence from Patent Data" 

Discussant: Margaret Kyle, Carnegie Mellon 

University 

Paris Cleanthous, New York University Stern School 

of Business 

"Informative Advertising and Learning in U.S. 

Pharmaceuticals" 

Discussant: Jeff Furman, Boston University 

Aidan Hollis, University of Calgary 

"How Do Brands' 'Own Generics' Affect 

Pharmaceutical Prices?" 

Discussant: Pierre Azoulay, Columbia University 

II.N. Empirical Studies of Alternative Quality 

Certification Strategies 


Chair: Phillip Leslie, Stanford University Graduate 


F2N1 

F2N2 

Jonathan Reuter, University of Oregon Lundquist 

College of Business, and Eric Zitzewitz, Stanford 

University Graduate School of Business 

"Do Ads Influence Editors? Advertising and Content 

Biases in the Financial Media" 

Discussant: S. Abraham Ravid, Yale University and 

Rutgers University 

Jeffrey Livingston, Bentley College 

"Do Bidders in Internet Auctions Trust Sellers? A 

Structural Model of Bidder Behavior on eBay" 

(with William Evans, University of Maryland) 

Discussant: Phillip Leslie, Stanford University 

Graduate School of Business 

II.M. Empirical Studies of Vertical Contracts 


Chair: Francine Lafontaine University of Michigan 


F2M1 

Katherine Ho, Harvard University 

"Selective Contracting in the Medical Care Market: 

Why Would a Health Plan Exclude a Hospital?" 

Discussant: Kristina Lybecker, Drexel University 

F2N3 

Ginger Jin, University of Maryland 

"Evolution of Professional Certification Markets: 

Evidence from the Field" (with John List, University 

of Maryland, and Andrew Kato, University of 

Maryland) 

Discussant: Randal Watson, University of Texas at 

Austin 

F2M2 

F2M3 

F2M4 

Ricard Gil, University of Chicago 

"Decisions Rights Allocation in the Movie Industry: 

Understanding Vertical Integration" 

Discussant: Darren Filson, Claremont Graduate 

University 

Kristina Terkun, Clemson University 

"Franchise Conflict: The Tide of Antipopes in the 

Aftermath of the Eastern Schism" 

Discussant: Francine Lafontaine, University of 

Michigan Business School 

Stefan Buehler, University of Zurich 

"Estimating Vertical Foreclosure in U.S. Gasoline 

Supply" (with Zava Aydemir, NERA) 

Discussant: Arturs Kalnins, University of Southern 

California Marshall School of Business 

29

II.O. Competition and Pricing in the Banking Industry 


Chair: Timothy Hannan, Federal Reserve Board of 

Governors 

F2O1 

F2O2 

F2O3 

F2O4 

George Pennacchi, University of Illinois 

"Harming Depositors and Helping Borrowers: The 

Disparate Impact of Bank Consolidation" (with 

Kwangwoo Park, Chung-Ang University) 

Discussant: Astrid Dick, Federal Reserve Board of 

Governors 

Matthew Shum, Johns Hopkins University 

"Do Mergers Improve Information? Evidence from 

the Loan Market" (with Fabio Panetta, Banca 

d?Italia, and Fabiano Schivardi, Banca d?Italia) 

Discussant: Elizabeth Klee, Federal Reserve Board 

of Governors 

Robin Prager, Federal Reserve Board of Governors 

"Multimarket Bank Pricing: An Empirical 

Investigation of Deposit Interest Rates" (with 

Timothy Hannan, Federal Reserve Board of 

Governors) 

Discussant: Marcello Pagnini, Bank of Italy 

Kenneth Brevoort, Federal Reserve Board of 

Governors) 

"Who Competes with Whom? The Case of 

Depository Institutions" (with Robert Adams, Federal 

Reserve Board of Governors, and Elizabeth Kiser, 

Federal Reserve Board of Governors) 

Discussant: Ayako Yasuda, University of 

Pennsylvania 

II.Q. Patents and R&D 


Chair: Corinne Langinier, Iowa State University 

F2Q1 

F2Q2 

F2Q3 

F2Q4 

Corinne Langinier, Iowa State University 

"Pool of Basic Patents and Follow-up Innovations" 

Discussant: Jorge Andres Ferrando Yanez, LEI- 

CREST, ENPC 

Wolfgang Gick, Dartmouth College 

"Seeking Protection Versus Signaling Information: 

The Two Choices of Firms When Deciding Where to 

Patent" 

Discussant: Corinne Langinier, Iowa State 

University 

Yann Meniere, Ecole des Mines de Paris 

"Blocking Patents in Oligopoly" (with Sarah Parlane, 

University College Dublin) 

Discussant: Wolfgang Gick, Dartmouth College 

Scott Stern, Northwestern University Kellogg School 

of Management 

"The Impact of Uncertain IP Rights on the Market for 

Ideas: Evidence from Patent Grant Delays" (with 

Joshua Gans, University of Melbourne, and David 

Hsu, University of Pennsylvania Wharton School) 

Discussant: Jennifer Reinganum, Vanderbilt 

University 

III.A. Optimal Policies Against Cartels 

Saturday, 9:30-11:00 a.m., Wieboldt 147 

Chair: Nicholas Economides, New York University 

Stern School of Business 

II.P. Torts: Theory and Evidence 


Chair: Sam Peltzman, University of Chicago 

F2P1 

F2P2 

F2P3 

Jennifer Reinganum, Vanderbilt University 

"Markets, Torts and Social Inefficiency" (with 

Andrew Daughety, Vanderbilt University) 

Discussant: Huseyin Yildirim, Duke University 

Daniel Flores-Guri, Skidmore College 

"Do CAFE Standards Kill People?" 

Discussant: Sam Peltzman, University of Chicago 

Yong-Kyun Bae, SUNY Stony Brook 

"The Effects of Vehicle Recalls on Safety in the 

U.S." 

Discussant: Ioana Marinescu, London School of 

Economics 

S3A1 

S3A2 

S3A3 

Giancarlo Spagnolo, University of Mannheim 

"Divide et Impera: Optimal Deterrence Mechanisms 

Against Cartels and Organized Crime" 

Discussant: Andrew Daughety, Vanderbilt 

University 

Stephen Martin, Purdue University Krannert School 

of Management 

"Competition Policy, Collusion, and Tacit Collusion" 

Discussant: Nicholas Economides, New York 

University Stern School of Business 

Joseph Harrington, Johns Hopkins University 

"Cartel Formation in the Midst of Buyer Detection" 

Discussant: Emmanuel Dechenaux, Purdue 

University Krannert School of Management 

30

III.B. Dynamic Agency 


Chair: Huseyin Yildirim, Duke University 

S3B1 

Thomas Jeitschko (Michigan State University) 

"Entry Deterrence Under Agency Constraints" 

(with Neelam Jain, Northern Illinois University, and 

Leonard Mirman, University of Virginia) 

Discussant: Nils Haunschild (University of 

Hamburg) 

III.D. Pricing Theory 


Chair: Glenn Woroch, University of California, 

Berkeley 

S3D1 

G. Martin Paredes, New York University 

"Competitive Price Discrimination and Obsolescence 

in Durable Goods Markets" 

Discussant: Switgard Feuerstein, Heidelberg 

University 

S3B2 

Huseyin Yildirim, Duke University 

"Piecewise Procurement of a Large-Scale Project" 

Discussant: Anastasia Kartasheva (University of 

Toulouse) 

S3D2 

Glenn Woroch, University of California, Berkeley 

"One-Part and Two-Part Price Competition for 

Exclusive Customers" (with James Reitzes, Brattle 

Group) 

S3B3 

Flavio Toxvaerd, Hebrew University of Jerusalem 

"A Theory of Optimal Deadlines" 

Discussant: Rick Harbaugh, Indiana University 

III.C. Intermediation 


Chair: Tunay Tunca, Stanford University 

S3C1 

S3C2 

S3C3 

Kai Sulzle, Institute for Economics Research, 

Munich 

"Duopolistic Competion Between Independent and 

Biased B2D Marketplaces" 

Discussant: Jos Jansen, WZ Berlin 

Tunay Tunca, Stanford University 

"Liquidity in Industrial Exchanges" (with Haim 

Mendelson, Stanford University) 

Discussant: John Beath, University of St. Andrews 

Simon Loertscher, University of Bern 

"Competition Between Market-Making 

Intermediaries" 

Discussant: Subhadip Chakrabarti, Virginia Tech 

S3D3 

Switgard Feuerstein, University of Heidelberg 

"Ad Valorem and Per Unit Taxation in Oligopolies 

with Quality Competition" 

Discussant: Glenn Woroch, University of California, 

Berkeley 

III.E. Dynamic Strategic Models with Demand-Side 

Network Effects 


Chair: Robert Hall, Stanford University Hoover 

Institution 

S3E2 

S3E3 

Robert Hall, Stanford University Hoover Institution 

"Potential Competition and the Prices of Network 

Goods: Desktop Software" (with Jimmy Royer, 

Universite Laval, and March Van Audenrode, 

Universite Laval) 

Discussant: Amil Petrin, University of Chicago 


Daniel McFadden, University of California, Berkeley 

"The Browser War: Econometric Analysis of 

Markov-Perfect Equilibrium in Markets with 

Network Effects" (with Mark Jenkins, Brattle Group, 

Paul Liu, Brattle Group, and Rosa Matzkin, 

Northwestern University) 

Discussant: Chad Syverson, University of Chicago 

31

III.F. The Strategic Role of Timing in Markets for 

Innovations 


Chair: Marie Thursby, Georgia Institute of 

Technology 

S3F1 

S3F2 

S3F3 

Sidartha Gordon, Northwestern University Kellogg 


"Publishing to Deter in R&D Competition" 

Discussant: Flavio Toxvaerd, Hebrew University of 

Jerusalem 

Xavier Carpentier, Helsinki School of Economics 

"Efficient Delays In Patent Right Enforecement: 

Cumulative Innovations and the Doctrine of Laches" 

Discussant: Marie Thursby, Georgia Institute of 

Technology 

Marie Thursby, Georgia Institute of Technology 

"Shirking, Shelving, and Risk Sharing; The Role of 

Milestones in University Patent Licensing" (with 

Jerry Thursby, Emory University, and Emmanual 

Dechenaux, Purdue University) 

Discussant: Yann Meniere, Ecole des Mines de Paris 

III.G. Energy and the Environment 


Chair: Catherine Wolfram, University of California, 

Berkeley, Haas School of Business 

III.H. Entry 


Chair: Carlo Scarpa, University of Brescia 

S3H1 

S3H2 

S3H3 

Carlo Scarpa, University of Brescia 

"Entry Without Competition" (with Michele Polo, 

Bocconi University) 

Discussant: Patrick Rey, IDEI, Toulouse 

Gianni Amisaon, University of Brescia and Maria 

Letizia Giorgetti, University of Milan 

"The Dynamics of Firms' Entry and Diversification: 

A Bayesian Approach" 

Discussant: Martino De Stefano, Boston University 

Patrick Paul Walsh, Trinity College Dublin 

"The Role of Market Coverage in Market 

Equilibrium: An Application to Retail Carbonated 

Soft Drinks" (with Franco Mariuzzo, University of 

Venice, and Ciara Whelan, University College 

Dublin) 

Discussant: Gautam Gowrisankaran, Washington 

University St. Louis 

III.I. The Market for Journals and Other Information 

Goods 


Chair: Lars Stole, University of Chicago Graduate 


S3G1 

S3G2 

Stephen Holland, UNC-Greensboro 

"Is Real-Time Pricing Green?" (with Erin Mansur, 

Yale School of Management) 

Discussant: Kevin Forbes, Catholic University 

Catherine Wolfram, University of California, 

Berkeley, Hass School of Business 

"The Impact of Grandfathering Regulations: 

Evidence from New Source Review" (with James 

Bushnell, University of California Energy Institute) 

Discussant: Paroma Sanyal, Brandeis University 

S3I1 

S3I2 

Arun Sundararajan, New York University Stern 


"Nonlinear Pricing of Information Goods" 

Discussant: Lars Stole, University of Chicago 


Mark McCabe, Georgia Institute of Technology 

"Open Access Journals" (with Christopher Snyder, 

George Washington University and University of 

Chicago) 

Discussant: Simon Loertscher, University of Bern 

S3G3 

Ujjayant Chakrovorty, Emory University 

"Boutique Fuels and Market Power" (with Celine 

Nauges, University of Toulouse) 

Discussant: George Deltas, University of Illinois 

S3I3 

Doh-Shin Jeon, Universitat Pompeu Fabra 

"Bundling Electronic Journals and Competition 

among Publishers" (with Domenico Menicucci, 

Universita di Firenze) 

Discussant: Kai Sulzle, Institute for Economics 

Research, Munich 

32

III.J. Refining Gibrat's Law 


Chair: Angelo Secchi, S. Anna School of Advanced 

Studies 

S3J1 

S3J2 

S3J3 

Blandina Oliveira, Polytechnic Institute of Leiria 

"Empirical Evidence on Determinants of Firm 

Growth: Are the Services Different? (with Adelino 

Fortunato, University of Coimbra) 

Discussant: Thitima Puttitanun, San Diego State 

University 

Angelo Secchi, S. Anna School of Advanced Studies 

"Growth and Diversification Patterns of the 

Worldwide Pharmaceutical Industry" (with Giulio 

Bottazzi, S. Anna School of Advanced Studies) 

Discussant: Catherine Matraves, Michigan State 

University 

Alessandra Luzzi, S. Anna School of Advanced 

Studies 

"Do Liquidity Constraints Matter in Explaining Firm 

Size and Growth? An Empirical Investigation of the 

Italian Manufacturing Industry" (with G. Fagiolo, S. 

Anna School of Advanced Studies) 

Discussant: Gianni Amisaon, University of Brescia 

III.L. Airline Economics II 


Chair: Darin Lee, LECG 

S3L1 

S3L2 

S3L3 

Nicholas Rupp, East Carolina University 

"How Do Airlines Allocate Scarce Resources? 

Evidence from Flight Operation Decisions" 

Discussant: Jan Brueckner, University of Illinois 

Gary Fournier, Florida State University 

"Price Effects of Reciprocal Multi-Market Contacts 

Among Airline Carriers" (with Tom Zuehlke, Florida 

State University) 

Discussant: Darin Lee, LECG 

Harumi Ito, Brown University 

"The Impact of Domestic Codesharing in the Airline 

Industry: Evidence from the U.S." (with Darin Lee, 

LECG) 

Discussant: Anming Zhang, University of British 

Columbia Sauder School of Business 

III.M. Bounded Rationality in I.O. 


Chair: David Laibson, Harvard University 

III.K. International Trade Models 


Chair: Robert Feinberg, American University 

S3K1 

S3K2 

S3K3 

Martino De Stefano, Boston University 

"Strategic Trade Policy with Differentiated Products" 

(with Marc Rysman, Boston University) 

Discussant: Robert Feinberg, American University 

Lars Sorgard, Norwegian School of Economics 

"National versus International Mergers in Unionised 

Oligopoly" (with Odd Straume, University of Bergen, 

Kjell Lommerud, University of Bergen) 

Discussant: Peter Mollgaard, Copenhagen Business 

School 

Pia Weiss, Chemnitz University of Technology 

"Competitive Disadvantage Through Non-Existing 

Software Patents" 

Discussant: Hans Jarle Kind, Norwegian School of 

Economics 

S3M1 

S3M2 

S3M3 

David Laibson, Harvard University 

"Some Industrial Organization With Boundedly 

Rational Consumers" (with Xavier Gabaix, MIT) 

Discussant: Kenneth Corts, University of Toronto 


Kjell Brekke, Ragnar Frisch Centre for Economic 

Research 

"Advertising in Markets with Increasing Returns to 

Adoption" (with Mari Rege, Case Western Reserve 

University) 

Discussant: Paris Cleanthous, New York University 


Jon Sturluson, University of Iceland 

"Does Your Opponent's Experience Matter? 

Experimental Evidence from a Quanitity 

Precommitment Game" 

(with Chloe Le Coq, Stockholm School of 

Economics) 

Discussant: David Laibson, Harvard University 

33

III.N. Empirical Studies of Auctions I 


Chair: Patrick Bajari, Duke University 

III.P. Measurement Issues in Antitrust 


Chair: Luke Froeb, U.S. Federal Trade Commission 

S3N1 

S3N2 

S3N3 

Patrick Bajari, Duke University 

"Auctions Versus Negotiations in Procurement: An 

Empirical Analysis" (with Robert McMillan, 

Stanford University, and Steven Tadelis, Stanford 

University) 

Discussant: Svetlana Pevnitskaya, Ohio State 

University 

Jonathan Levin, Stanford University 

"Comparing Auction Methods with Asymmetric 

Bidders: Theory and Evidence from Timber 

Auctions" (with Susan Athey, Stanford University, 

and Enrique Seira, Stanford University) 

Discussant: Elena Krasnokutskaya, University of 

Pennsylvania 

Samita Sareen, Bank of Canada 

"Order Flow and the Formation of Dealer Bids: An 

Analysis of Information and Strategic Behavior in the 

Government of Canada Securities Auctions" (with 

Ali Hortacsu, University of Chicago) 

Discussant: Leonardo Rezende, University of Illinois 

S3P1 

S3P2 

S3P3 

Peter Mollgaard, Copenhagen Business School 

"Sequential Versus Simultaneous Market 

Delineation: The Relevant Antitrust Market for 

Salmon" (with Niels Haldrup, University of Aarhus, 

and Claus Kastberg Nielsen, Copenhagen Economics 

ApS) 

Discussant: Wallace Mullin, George Washington 

University 

Jeroen Hinloopen, University of Amsterdam 

"Measuring Competition" 

Discussant: Luke Froeb, U.S. Federal Trade 

Commission 

Robert Masson, Cornell University 

"Oligopolistic 'Agreement' and/or 'Superiority'? New 

Findings from New Methodologies and Data" (with 

George Jakubson, Cornell University, Kap-Young 

Jeong, Yonsei University, and DongHun Kim, 

Cornell University) 

Discussant: David Schmidt, U.S. Federal Trade 

Commission 

III.O. Entry in Financial Markets 


Chair: Robin Prager, Federal Reserve Board of Governors 

III.Q. Valuing Patents 

Saturday, 9:30-11:00 p.m., Wieboldt 307 

Chair: Dirk Czarnitzki, ZEW, Mannheim, Germany 

S3O1 

Marcello Pagnini, Bank of Italy 

"Entry Decisions in Local Banking Markets: Does 

Potential Entrants' Heterogeneity Play a Role?" 

(with Roberto Felici, Bank of Italy) 

Discussant: Todor Gradev, Trinity College Dublin 

S3Q1 

Robert Hunt, Federal Reserve Bank of Philadelphia 

"An Empirical Look at Software Patents" (with 

James Bessen, Research on Innovation and MIT) 

Discussant: Andreas Fier, ZEW, Mannheim, 

Germany 

S3O2 

S3O3 

Astrid Dick, Federal Reserve Board of Governors 

"Entry into Banking Markets and the First-Mover 

Advantage" (with Allen Berger, Federal Reserve 

Board of Governors) 

Discussant: Matthew Shum, Johns Hopkins 

University 

Michelle Danis, Office of Federal Housing Enterprise 

Oversight 

"A Discrete Choice Approach to Measuring 

Competition in Equity Option Markets" 

Discussant: Robin Prager, Federal Reserve Board of 

Governors 

S3Q2 

S3Q3 

Yi Deng, Southern Methodist University 

"A Dynamic Stochastic Analysis of International 

Patent Application and Renewal Processes" 

Discussant: 

Dirk Czarnitzki, ZEW, Mannheim, Germany 

"Comparing the Market Valuation of Innovative 

Assets in U.S. and German Firms" (with Bronwyn 

Hall, University of California Berkeley) 

Discussant: Suzanne Majewski, Harvard Law School 

34

IV.A. Law and Economics 

Saturday, 11:30 a.m.-1:00 p.m., Wieboldt 147 

Chair: Andrew Daughety, Vanderbilt University 

S4A1 

S4A2 

S4A3 

Andrew Daughety, Vanderbilt University 

"Secrecy and Safety" (with Jennifer Reinganum, 

Vanderbilt University) 

Discussant: Sidartha Gordon, Northwestern 


Eloic Peyrache, HEC School of Management, Paris 

"Reputation of a Potentially Collusive Auditor" 

(with Lucia Quesada, University of Wisconsin) 

Discussant: Heski Bar-Issac, New York University 


Wallace Mullin, George Washington University 

"Deterring Corporate Crime: Targeting and Insuring 

Corporate Agents" (with Christopher Snyder, George 

Washington University) 

IV.B. Models of Firm Dynamics 


Chair: Michael Salinger, Boston University School of 

Mangement 

S4B1 

S4B2 

Mika Kato, New School University 

"A Theory of Twin Peaks" 

Discussant: Pia Weiss, Chemnitz University of 

Technology 

Michael Salinger, Boston University School of 

Mangement 

"A Statistical Physics Implementation of Coase's 

Theory of the Firm" (with Sergey Buldyrev, Boston 

University Department of Physics, H. Eugene 

Stanley, Boston University Department of Physics) 

Discussant: Ulrich Doraszelski, Hoover Institution, 

Stanford University 

IV.C. Auction Theory I 


Chair: Eric Rasmusen, Indiana University Kelley 


S4C1 

S4C2 

Gopal Das Varma, Duke University Fuqua School of 

Business 

"Asymmetric Equilibria in the Open Ascending-Price 

Auction with Shared Allocative Externalities" 

Discussant: Jingfeng Lu, University of Southern 

California 

Joseph Tao-yi Wang, UCLA 

"Is Last Minute Bidding Bad?" 

Discussant: Eric Rasmusen, Indiana University 

Kelley School of Business 

IV.D. Competition and Strategy 


Chair: James Dana, Northwestern University Kellogg 


S4D2 

S4D3 

Qiang Gong, Northwestern University Kellogg 


"Optimal Buy-Back Contracts With Asymmetric 

Information" 

Discussant: Qihong Liu, University of 

Massachusetts 

Matt Clements, University of Texas 

"The Moral Hazard of Customer Loyalty Programs" 

Discussant: 

S4B3 

Mauro Gallegati, Universita' Politecnica delle 

Marche 

"Financial Fragility, Patterns of Firms' Entry and Exit 

and Aggregate Dynamics" (with Domenico Delli 

Gatti, Gianfranco Giulioni, and Antonio Palestrini) 

Discussant: Mika Kato, New School University 

35

IV.E. Competitive Outcomes in Oligopoly Markets 


Chair: Mike Mazzeo, Northwestern University 


S4E1 

S4E2 

S4E3 

Randal Watson, University of Texas at Austin 

"Product Variety and Competition in the Retail 

Market for Eyeglasses" 

Discussant: V. Brian Viard, Stanford University 


Brian McManus, Washington University Olin School 

of Business 

"Competition, Insurance, and Quality in the Market 

for Advanced Infertility Treatment" (with Bart 

Hamilton, Washington University Olin School of 

Business) 

Discussant: Melayne McInnes, University of South 

Carolina 

Andrew Cohen, Federal Reserve Board of Governors 

"Competition and Deposit Rates: The Effects of 

Banks, Thrifts, and Credit Unions" (with Mike 

Mazzeo, Northwestern University Kellogg School of 

Business) 

Discussant: Lanier Benkard, Stanford University 


IV.F. Electricity Markets I 


Chair: Erin Mansur, Yale School of Management 

S4F1 

S4F2 

Eric Ralph, EKonomics LLC 

"Supply Function Equilibria in Electricity Generation 

and Transmission" (with Xinmin Hu, CSIRO 

Manufacturing and Infastructure Technology, Danny 

Ralph, University of Cambridge, Peter Bardsley, 

University of Melbourne, and Michael Ferris, 

University of Wisconsin) 

Discussant: Chloe Le Coq, Stockholm School of 

Economics 

Timothy Brennan, University of Maryland Baltimore 

County 

"Preventing Monopoly or Discouraging Competition? 

The Perils of Price-Cost Tests for Market Power in 

Electricity" 

Discussant: Erin Mansur, Yale School of 

Management 

IV.G. New Data and Techniques in Demand 

Estimation 


Chair: Christopher Adams, U. S. Federal Trade 

Commission 

S4G1 

S4G2 

S4G3 

Michael Sandfort, U. S. Department of Justice 

"Merger Simulation in an Asymmetric Procurement 

Auction with Censored Bid Data" 

Discussant: Cory Capps, Northwestern University 


George Deltas, University of Illinois 

"Demand Estimation Using Binary Regression 

Quantiles" (with Gregory Kordas, University of 

Pennsylvania) 

Discussant: Daniel Hoskin, U. S. Federal Trade 

Commission 

Christopher Adams, U. S. Federal Trade Commission 

"Digital Demand: The Demand for Digital Cameras 

on eBay" (with William Vogt, Carnegie Mellon 

University) 

Discussant: Unjy Song, University of Wisconsin 

IV.H. Media Markets: The Impact of New Technology 


Chair: Juergen Bitzer, Free University Berlin 

S4H1 

S4H2 

S4H3 

David Waterman, Indiana University 

"The Effects of Techological Change on the Quality 

and Variety of Information Products" 

Discussant: Fabio Manenti, Universita di Padova 

Ibrahiim Bayaan, Emory University 

"Technology and the Music Industry: Effects on 

Profits, Variety, and Welfare" 

Discussant: Juergen Bitzer, Free University Berlin 

David Blackburn, Harvard University 

"The Distribution Effects of File Sharing: The 

Recorded Music Industry" 

Discussant: Richard Schmidtke, University of 

Munich 

S4F3 

Chloe Le Coq, Stockholm School of Economics 

"Long-Term Supply Contracts and Collusion in the 

Electricity Market" 

Discussant: Ujjayant Chakrovorty, Emory University 

36

IV.I. Recent Trends in Productivity 


Chair: Thomas Hubbard, University of Chicago 


S4I1 

S4I2 

Kenneth Boyer, Michigan State University 

"Productivity and Cost Trends in the Trucking 

Industry, 1977-1997" (with Steven Burks, University 

of Minnesota-Morris) 

Discussant: Thomas Hubbard, University of Chicago 


James MacDonald, U.S. Department of Agriculture 

"Scale Econimies, Product Innovation, and 

Consolidation in a Mature Industry: The Case of 

Beefpacking" (with Michael Ollinger, U.S. 

Department of Agriculture) 

Discussant: David Saal, Aston Business School 

IV.K. Airline Economics II 


Chair: Nicholas Rupp, East Carolina University 

S4K1 

S4K2 

Anming Zhang, University of British Columbia 

Sauder School of Business 

"Alternative Forms of Economic Regulation and 

Their Efficiency Implications for Airports" (with Tae 

Hoon Oum, University of British Columbia Sauder 

School of Business, and Yimin Zhang, City 

University of Hong Kong) 

Discussant: Nicholas Rupp, East Carolina University 

Jan Brueckner, University of Illinois 

"European Airline Mergers, Alliance Consolidation, 

and Consumer Welfare" (with Eric Pels, Vrije 

Universiteit) 

Discussant: Harumi Ito, Brown University 

S4I3 

Wesley Wilson, University of Oregon 

"Industry Costs and Consolidation: Effeciency Gains 

and Mergers in the Railroad Industy" (with John 

Bitzan, North Dakota State University) 

Discussant: Kenneth Boyer, Michigan State 

University 

S4K3 

Darin Lee, LECG 

"Incumbent Responses to Low Cost Entry: Evidence 

from the U.S. Airline Industry" (with Harumi Ito, 

Brown University) 

Discussant: Gary Fournier (Florida State University) 

IVJ. Trade Liberalization, Reallocation and 

Productivity Growth 


Chair: Frederic Warzynski, Aarhus School of 

Business 

S4J1 

S4J2 

Jozef Konings, Katholieke Universiteit Leuven 

"Creative Destruction and Productivity Growth in an 

Emerging Economy: Evidence from Slovenian 

Manufacturing" 

Discussant: Jeremy Fox, University of Chicago 

Patrick Paul Walsh, Trinity College Dublin 

"Employment Responses to Trade Liberalization: 

Ireland's Industrial Development (1972-2000)" 

Discussant: Valerie Smeets, Aarhus School of 

Business and ECARES, Univeriste Libre de 

Bruxelles 

IV.L. Empirical Studies of Auctions II 


Chair: Jonathan Levin, Stanford University 

S4L1 

S4L2 

S4L3 

Svetlana Pevnitskaya, Ohio State University 

"Survival Auctions" (with John Kagel, Ohio State 

University, and Lixin Ye, Ohio State University) 

Discussant: Jonathan Levin, Stanford University 

Elena Krasnokutskaya, University of Pennsylvania 

"The Determinants of Auction Participation in 

Highway Procurement" 

Discussant: Patrick Bajari, Duke University 

Leonardo Rezende, University of Illinois 

"Auction Econometrics by Least Squares" 

Discussant: Samita Sareen, Bank of Canada 

S4J3 

Frederic Warzynski, Aarhus School of Business 

"Testing the Effect of Competition in Schumpeterian 

Growth Models: Evidence from US Manufacturing" 

Discussant: Patrick Paul Walsh, Trinity College 

Dublin 

37

IV.M. Empirical Studies of Insurance Markets 


Chair: Rajeev Dehejia, Columbia University 

IV.O. Interfirm Cooperation in R&D I 


Chair: Luca Lambertini, University of Bologna 

S4M1 

Mark Israel, Northwestern University Kellogg School 

of Management 

"Do People Drive More Safely When Accidents Are 

More Expensive? Identifying Moral Hazard from 

Experience Rating Schemes" 

Discussant: Rajeev Dehejia, Columbia University 

S4O1 

Roberto Cellini, Universita di Catania 

"Dynamic R&D with Spillovers: Competition vs. 

Cooperation" (with Luca Lambertini, University of 

Bologna) 

Discussant: Steffen Brenner, Technical University 

Munich 

S4M2 

S4M3 

Olivia Ceccarini, University of Pennsylvania 

"Testing for the Presence of Moral Hazard On 

Dynamic Insurance Data: Evidence from the 

Portuguese Car Insurance Industry" (with Nuno 

Pereira, University of Pennsylvania Wharton School) 

Discussant: John Hause, SUNY Stony Brook 

Pau Olivella, Universitat Autonoma de Barcelona 

"Testing for Adverse Selection in a NHS" (with 

Marcos Vera-Hernandez (Institute of Fiscal Studies) 

Discussant: Winand Emons, University of Bern 

S4O2 

S4O3 

Leslie Neubecker, University of Tuebingen 

"Does Cooperation in Manufacturing Foster Tacit 

Collusion?" 

Discussant: Luca Lambertini, University of Bologna 

Cristian Dezso, New York University Stern School of 

Business 

"Technology Licensing and Techology Alliances" 

(with Luis Cabral, New York University Stern 


Discussant: Nanyun Zhang, Michigan State 

University 

IV.N. Political Economy of Antitrust 


Chair: Vivek Ghosal, Georgia Institute of Technology 

S4N1 

Joseph Clougherty, WZB and Humboldt University 

"Export Orientation and Domestic Merger Policy: 

Theory and Some Evidence" (with Anming Zhang, 

School of Business, University of British Columbia) 

Discussant: John Panzar, Northwestern University 

V.A. Merger Policy 


Chair: Jeroen Hinloopen, University of Amsterdam 

S5A1 

Aldo Gonzalez, University of Toulouse 

"Antitrust Enforcement and the Design of Disclosure 

Rules: An Application to Merger Control" 

Discussant: Jakub Kastl, Northwestern University 

S4N2 

Johan Stennek, Research Institute for Industrial 

Economics, Stockholm 

"Why Event Studies Do Not Detect the Competitive 

Effects of Mergers" (with Sven-Olof Fridolfsson 

(Research Institute for Industrial Economics, 

Stockholm) 

Discussant: Stephen Martin, Purdue University 

Krannert School of Management 

S5A2 

Sencer Ecer, LECG 

"A Rational Expectations Critique of Merger Policy 

Analysis" 

Discussant: Jeroen Hinloopen, University of 

Amsterdam 

S4N3 

Vivek Ghosal, Georgia Institute of Technology 

"Ideology and Antitrust: Evidence from the U. S. 

Department of Justice's Enforcement Activity" 

Discussant: John Kwoka, Northeastern University 

38

V.B. The Interface between Corporate Finance and 

Theoretical I.O. 


Chair: Thomas Jeitschko, Michigan State University 

V.D. Buyer Power 


Chair: Greg Shaffer, University of Rochester Simon 


S5B1 

S5B3 

Nils Haunschild, University of Hamburg 

"Output and Financing under Imperfect Competition" 

Discussant: Nisvan Erkal, University of Melbourne 

Brett Gordon, Carnegie Mellon University Graduate 

School of Industrial Admistration 

"The Seven Percent Illusion" 

Discussant: Thomas Jeitschko, Michigan State 

University 

S5D1 

S5D2 

James Dana, Northwestern University Kellogg 


"Buyer Groups as Strategic Commitments" 

Discussant: Daniel O'Brien, U.S. Federal Trade 

Commission 

Marco Haan, University of Groningen 

"Consumer Boycotts" 

Discussant: G. Martin Paredes, New York 

University 

V.C. Auction Theory II 


Chair: Eric Rasmusen, Indiana University Kelley 


S5C1 

S5C2 

S5C3 

Eric Rasmusen, Indiana University Kelley School of 

Business 

"Getting Carried Away in Auctions as Imperfect 

Value Discovery" 

Discussant: Rene Kirkegaard, University of Aarhus 

Rene Kirkegaard, University of Aarhus 

"Auctions Vs. Negotiations Revisited" 

Discussant: Gopal Das Varma, Duke University 

Fuqua School of Business 

Jingfeng Lu, University of Southern California 

"Auction Design with Opportunity Cost" 

Discussant: Joseph Tao-yi Wang, UCLA 

S5D3 

Dong Chen, Indiana University Kelley School of 

Business 

"Foreclosing the Upstream Monopolist in a Market 

with Network Externalities" 

Discussant: Greg Shaffer, University of Rochester 

Simon School of Business 

V.E. Empirical Entry Models 


Chair: James Prieger, University of California, Davis 

S5E1 

S5E2 

Chuck Moul, Washington University St. Louis 

"The Impact of Local Tax Differences on the 

Location of Retail Gasoline Stations" (with Mark 

Manuszak, Carnegie-Mellon University) 

Discussant: James Prieger, University of California, 

Davis 

Andrew Eckert, University of Alberta 

"Rationalization of Retail Gasoline Networks in 

Canada" (with Douglas West, University of Alberta) 

Discussant: Janice Hauge, University of North Texas 

S5E3 

Emek Basker, University of Missouri 

"Selling a Cheaper Mousetrap: Wal-Mart's Effect on 

Retail Prices" 

Discussant: Alan Marco, Vassar College 

39

V.F. Information Sharing in Oligopoly 


Chair: John Beath, University of St. Andrews 

V.H. Cartels 


Chair: Vivek Ghosal, Georgia Institute of Technology 

S5F1 

S5F2 

S5F3 

John Beath, University of St. Andrews 

"Sharing Information in Joint Ventures and the 

Organization of R&D" 

Discussant: Maarten Pieter Schinkel, University of 

Amsterdam 

Qihong Liu, University of Massachusetts 

"Customer Information Sharing Among Rival Firms" 

(with Konstantinos Serfes) 

Discussant: Sencer Ecer, LECG 

Jos Jansen, WZ Berlin 

"Partial Information Sharing in Cournot Oligopoly" 

Discussant: Aldo Gonzalez, University of Toulouse 

V.G. Electricity Markets II 


Chair: Catherine Wolfram, University of California, 


S5H1 

S5H2 

S5H3 

Robert Feinberg, American University 

"An Event Study Analysis of Price-Fixing Cases in 

Australia: When Do Investors Respond?" (with 

David Round, University of South Australia) 

Discussant: Johan Stennek, Research Institute for 

Industrial Economics, Stockholm 

Frode Steen, Norwegian School of Economics 

"On the Workings of a Cartel: Evidence from the 

Norwegian Cement Industry" (with Lars-Hendrik 

Roeller, WZB and Humboldt University) 

Discussant: Vivek Ghosal, Georgia Institute of 

Technology 

Nicolas de Roos, University of Sydney 

"Collusion with a Competive Fringe: An Application 

to Vitamin C" 

Discussant: Joseph Clougherty, WZB and Humboldt 

University 

S5G1 

S5G2 

S5G3 

Andrew Kleit, Pennsylvania State University 

"Assessing Geographic Market Integration in 

Electricity: Did Restructuring Help?" (with James 

Reitzes, The Brattle Group) 

Discussant: Catherine Wolfram, University of 

California, Berkeley, Haas School of Business 

Paroma Sanyal, Brandeis University 

"Deregulation, Restructuring and Changing R&D 

Paradigms in the Electric Utility Industry" (with 

Linda R. Cohen (University of California, Irvine and 

University of Southern California) 

Discussant: Steven Puller, Texas A&M University 

M. Soledad Arellano, Universidad de Chile 

"Market Power in Mixed Hydrothermal Electric 

Systems: An Application to Chile's Deregulated 

Industry" 

Discussant: Severin Borenstein, University of 

California, Berkeley Haas School of Business 

V.I. Strategic Contracting, Financing, and Product 

Differentiation: Applications to Motion-Pictures 

Markets 


Chair: Darlene Chisholm, Suffolk University 

S5I1 

S5I2 

Darren Filson, Claremont Graduate University 

"At the Movies: The Economics of Exhibition 

Contracts" (with David Switzer, Washington 

University St. Louis, and Portia Besocke Claremont 

Graduate University) 

Discussant: Darlene Chisholm, Suffolk University 

S. Abraham Ravid, Yale University and Rutgers 

University 

"Are Two Better Than One? An Analysis of 

Financing Alliances in the Film Industry" (with 

Darius Palia, Rutgers University, and Natalia Reisel, 

Rutgers University) 

Discussant: Zaur Rzakhanov, Suffolk University 

S5I3 

Darlene Chisholm, Suffolk University 

"Product Differentiation and Film-Programming 

Choice: Measuring Product Similarity in a Dynamic 

Panel Data Setting" (with Margaret McMillan, Tufts 

University, and George Norman, Tufts University) 

Discussant: F. Andrew Hanssen, Montana State 

University 

40

V.J. Empirical Studies of Firm Dynamics 


Chair: Robert Masson, Cornell University 

S5J1 

S5J2 

S5J3 

Bruce Petersen, Washington University 

"Is it Time to Abandon the Marshallian Shutdown 

Condition?" (with Robert Carpenter, University of 

Maryland Baltimore County) 

Discussant: Robert Masson, Cornell University 

Seth Norton, Wheaton College 

"The Schumpeterian Shock at General Motors in the 

1920's" 

Discussant: John Howard Brown, Georgia Southern 

University 

Johannes Van Biesebroeck, University of Toronto 

"Flexible Manufacturing in the North-American 

Automobile Industry" 

Discussant: James MacDonald, U.S. Department of 

Agriculture 

V.K. Does Exporting Cause Innovation or Vice 

Versa? 


Chair: Jozef Konings, University of Leuven 

V.L. Antitrust Policy for Hospitals 


Chair: David Dranove, Northwestern University 


S5L1 

S5L2 

S5L3 

H. E. Frech, University of California, Santa Barbara, 

James Langenfeld, LECG and R. Forrest McCluer, 

LECG 

"Elzinga-Hogarty Tests and Alternative Approaches 

for Market Share Calculations in Hospital Markets" 

Discussant: David Dranove, Northwestern 


Kristina Lybecker, Drexel University 

"The Objective Function Matters: An Investigation of 

Competition in the Hospital Industry" (with Teresa 

Harrison, Drexel University) 

Discussant: Leemore Dafny, Northwestern 


Luc Anselin, University of Illinois and Lee Mobley, 

Research Triangle Institute 

"Spatial Interaction, Hospital Pricing, and Hospital 

Antitrust" (with H. E. Frech, University of California, 

Santa Barbara) 

Discussant: William Vogt, Carnegie Mellon 

University 

S5K1 

S5K2 

S5K3 

Jan De Loecker, Havard University 

"Do Exports Generate Higher Productivity? Evidence 

from Slovenia" (with Jozef Konings, University 

Leuven) 

Discussant: Frederic Warzynski, Aarhus School of 

Business 

Stefan Lachenmaier, University of Munich 

"Does Innovation Cause Exports? Evidence from 

Exogenous Innovation Impulses and Restraints Using 

German Micro Data" (with Ludger Woessmann, 

University of Munich) 

Discussant: Jozef Konings, University of Leuven 

Mahmut Yasar, Emory University 

"The Relationship Between Exports and Productivity 

at the Plant-Level in the Turkish Apparel and Motor 

Vehicle Parts Industries" (with Carl Nelson, 

University of Illinois) 

Discussant: Susana Iranzo, University of Sydney 

V(M). Contracting Across Borders 

(Saturday, 2:00-3:30 p.m., Wieboldt 309) 

Chair: Francine Lafontaine (University of Michigan 

Business School) 

S5M1 

S5M2 

S5M3 

Francine Lafontaine, University of Michigan 


"Beyond Entry: Examining McDonald's Expansion 

and Growth in International Markets" (with David 

Leibsohn, University of Michigan Business School) 

Discussant: Katherine Ho, Harvard University 

Arturs Kalnins, University of Southern California 

Marshall School of Business 

"Development Schedules and Venture Failure: 

Evidence from International Master Franchising 

Contracts" 

Discussant: Ricard Gil, University of Chicago 

C. Fritz Foley, University of Michigan 

"Do Stronger Intellectual Property Rights Increase 

International Technology Transfer?" (with Lee 

Branstetter, Columbia Business School, and 

Raymond Fisman, Columbia Business School) 

Discussant: Scott Stern, Northwestern University 


41

V.N. Markets with Private Information 


Chair: Mark Israel, Northwestern University Kellogg 


S5N1 

S5N2 

S5N3 

Monica Hartmann, University of St. Thomas 

"Are Lemons Really Hot Potatoes?" 

(with Maxim Engers, University of Virginia, and 

Steven Stern, University of Virginia) 

Discussant: Olivia Ceccarini, University of 

Pennsylvania 

Philippe Marcoul, Iowa State University 

"Fishing for Information" (with Quinn Weninger, 

Iowa University) 

Discussant: Pau Olivella, Universitat Autonoma de 

Barcelona 

Winand Emons, University of Bern 

"The Market for Used Cars: A New Test of the 

Lemons Models" (with George Sheldon, University 

of Basle) 

Discussant: Mark Israel, Northwestern University 


V.P. Empirical Studies of Regulation 


Chair: Simon Wilkie, California Institute of Technology 

S5P1 

S5P2 

S5P3 

Terry Robinson, Machester School of Management 

"The Revealed Preferance of Regulatory Options" 

Discussant: Chris Klein, Middle Tennessee State 

University 

David Saal, Aston Business School 

"Incentive Regulation, Environmental Investment, 

and their Impact on Productivity Growth in the 

English and Welsh Water and Sewerage Industry" 

(with Scott Reid, Stone and Webster Consultants) 

Discussant: Marcelo Torres, University of 

California, Davis 

Sang Lee, Southeastern Louisiana University 

"The Adoption of Privatization Policy in 

Telecommunications: A Duration Analysis of 

Reverse Causality" (with Shakil Quayes, 

Southeastern Louisian University) 

Discussant: Simon Wilkie, California Institute of 

Technology 

V.O. Labor Markets 


Chair: Matthew Shum, Johns Hopkins University 

V.Q. Interfirm Cooperation in R&D II 


Chair: Roberto Cellini, Universita di Catania 

S5O1 

S5O2 

S5O3 

Matthew Shum, Johns Hopkins University 

"Interpreting Intra-firm Wage Differentials in Retail 

Chains Using Tournament Models" 

Discussant: Phillipe Marcoul, Iowa State University 

Christopher Ruebeck, Lafayette College 

"The Large-Firm Wage Premium, the Manager's 

Scope of Responsibility, and Incentive Pay" 

Discussant: Alessandra Luzzi, St. Anna School of 

Advanced Studies 

Niko Matouschek, Northwestern University Kellogg 


"Labor Market Frictions, Job Insecurity, and the 

Flexibility of the Employment Relationship" 

(with Paolo Ramezzana, London School of 

Economics, and Frederic Nicoud, University of 

Geneva) 

Discussant: John McHale, Queen's University 

S5Q1 

S5Q2 

S5Q3 

Luca Lambertini, University of Bologna 

"The Gains from Cooperative R&D with a Concave 

Technolgy and Spillovers" (with Gianpaolo Rossini, 

University of Bologna) 

Discussant: Cristian Dezso, New York University 


Nanyun Zhang, Michigan State University 

"Incomplete Patent Pool and Competing Patent 

Pools" 

Discussant: Roberto Cellini, Universita di Catania 

Steffen Brenner, Technical University Munich 

"Incentives to Join a Patent Pool" 

Discussant: Leslie Neubecker, University of 

Tuebingen 

42

VI.A. Anticompetitive Vertical Practices: Theory 


Chair: Dan Kovenock, Purdue University Krannert 


S6A1 

S6A2 

S6A3 

Joshua Gans, University of Melbourne 

"Vertical Contracting When Competition for Orders 

Precedes Procurement" 

Discussant: Nadav Levy, SUNY Albany 

Jakub Kastl, Northwestern University 

"Vertical Hierarchies as a Collusive Device" 

Discussant: Dan Kovenock, Purdue University 

Krannert School of Management 

Maarten Pieter Schinkel, University of Amsterdam 

"Illinois Walls" (with Jan Tuinstra, University of 

Amsterdam, and Jakob Rueggeberg, University of 

Maastricht) 

Discussant: Charles Thomas, University of 

Rochester Simon School of Business 

VI.B. Information Transmission in the Principal- 

Agent Model 


Chair: Andreas Roider, University of Bonn 

S6B1 

S6B2 

Alessandro Pavan, Northwestern University 

"On the Optimality of Privacy in Sequential 

Contracting" (with Giacomo Calzolari, University of 

Bologna) 

Discussant: Andreas Roider, University of Bonn 

Anastasia Kartasheva, University of Toulouse 

"Awarding Production Rights under Financial 

Constraints" 

VI.C. Telecommunications Policy 


Chair: Timothy Brennan, University of Maryland, 

Baltimore County 

S6C1 

S6C2 

S6C3 

S6C4 

Simon Wilkie, California Institute of Technology 

"Defining Impairment: An Evaluation of Alternative 

Standards for Unbundling Local Phone Company 

Facilities" (with Daniel Shiman, Federal 

Communications Commission) 

Discussant: Timothy Brennan, University of 

Maryland, Baltimore County 

Lukasz Grzybowski, University of Munich 

"The Competitiveness of Mobile 

Telecommunications Industry Across the European 

Union" 

Discussant: Eric Ralph, EKonomics LLC 

Subhadip Chakrabarti, Virginia Tech 

"Intra-backbone and Inter-backbone Peering Among 

Internet Service Providers" (with Narine Badasyan, 

Virginia Tech) 

Discussant: Tunay Tunca, Stanford University 

Jorge Andres Ferrando Yanez, LEI-CREST 

"Skimming the Others' Cream: Competitive Effects 

of an Asymmetric Universal Service Obligation" 

(with Helene Bourguignon, LEI-CREST) 

Discussant: Lukasz Grzybowski, University of 

Munich 

VI.D. The Structure of Wholesale Transactions 


Chair: Christopher Snyder, George Washington 

University and University of Chicago 

S6B3 

Rick Harbaugh, Indiana University 

"Witholding Good (But Not Great) News" (with Ted 

To, U. S. Bureau of Labor Statistics) 

Discussant: Xinya Hua, Northwestern University 


S6D1 

Gabriella Chiesa, University of Bologna 

"Multi-unit Procurement Auctions and the Effects of 

Mergers" 

Discussant: Christopher Snyder, George Washington 

University and University of Chicago 

S6B4 

Marcelo Rezende, University of Chicago 

"Corporate Strategy and Information Disclosure" 

(with Daniel Ferreira, Stockholm School of 

Economics) 

Discussant: Brett Gordon, Carnegie Mellon 

University Graduate School of Industrial 

Admistration 

S6D2 

Christopher Snyder, George Washington University 

and University of Chicago 

"Do Buyer Size Discounts Depend on the Curvature 

of the Surplus Function? Experimental Tests of 

Bargaining Models" (with Hans-Theo Normann, 

University of London, and Bradley Ruffle, Ben- 

Gurion University and Harvard University) 

Discussant: Bart Wilson, George Mason University 

S6D3 

Nadav Levy, SUNY Albany 

"The Organization of Supply: A Vertical Equilibrium 

Analysis" 

Discussant: Roger Betancourt, University of 

Maryland 

43

VI.E. Structural Models 


Chair: Amil Petrin, University of Chicago Graduate 


S6E1 

S6E2 

S6E3 

V. Brian Viard, Stanford University Graduate School 

of Business 

"Quantifying the Benefits of Entry into Local Phone 

Service" (with Nicholas Economides, New York 

University Stern School of Business, and Katja Seim, 

Stanford University Graduate School of Business) 

Discussant: Jeremy Fox, University of Chicago 

Lanier Benkard, Stanford University Graduate 


"Estimating Dynamic Models of Imperfect 

Competition" (with Patrick Bajari, Duke University, 

and Jonathan Levin, Stanford University) 

Discussant: Guenter Hitsch, University of Chicago 


Amil Petrin, University of Chicago Graduate School 

of Business 

"Consistent Policy Analysis When Some 

Heterogeneity is Unobserved" 

Discussant: Timothy Conley, University of Chicago 


VI.F. Do Universities Impact the Industrial 

Organization of Private R&D (and Vice Versa)? 


Chair: Scott Stern, Northwestern University Kellogg 


S6F1 

S6F2 

S6F3 

Jeff Furman, Boston University 

"Knowledge Spillovers, Geographic Location, and 

the Productivity of Pharmaceutical Research" (with 

Margaret Kyle, Carnegie Mellon University, Iain 

Cockburn, Boston University, and Rebecca 

Henderson, MIT Sloan School of Management) 

Discussant: Shane Greenstein, Northwestern 


Marie Thursby, Georgia Institute of Technology 

"Appropriability and the Timing of Innovation: 

Evidence from MIT Inventions" (with Emmanuel 

Dechenaux, Purdue University, Brent Goldfarb, 

University of Maryland, and Scott Shane, Case 

Western Reserve University) 

Discussant: C. Fritz Foley, University of Michigan 

Pierre Azoulay, Columbia University 

"Acquiring Knowledge Across and Within Firm 

Boundaries: Evidence from Clinical Development" 

Discussant: Angelo Secchi, St. Anna School of 

Advanced Studies 

S6F4 

Scott Stern, Northwestern University Kellogg School 

of Management 

"Do Patents Hinder the Free Flow of Scientific 

Knowledge?" (with Fiona Murray, MIT Sloan School 

of Management) 

Discussant: Sunghee Choi, Claremont Graduate 

University 

44

VI.G. Electricity Markets III 


Chair: Severin Borenstein, University of California, 

Berkeley Haas School of Business 

S6G1 

S6G2 

S6G3 

Severin Borenstein, University of California, 

Berkeley Haas School of Business 

"The Long-Run Impact of Real-Time Electricity 

Pricing" 

Discussant: Ali Hortacsu, University of Chicago 

Steven Puller, Texas A&M University 

"Testing Strategic Models of Firm Behavior in 

Restructured Electricity Markets: A Case Study of 

ERCOT" (with Ali Hortacsu, University of Chicago) 

Discussant: Stephen Holland, UNC-Greensboro 

Erin Mansur, Yale University 

"Market Structure and Competition: A Cross-Market 

Analysis of the US Electricity Industry" (with James 

Bushnell, University of California Energy Institute, 

and Celeste Saravia, University of California Energy 

Institute) 

Discussant: M. Soledad Arellano, Universidad de 

Chile 

VI.H. Space, Location and Learning 


Chair: Michael Waterson, University of Warwick 

S6H1 

S6H2 

S6H3 

Timothy Conley, University of Chicago Graduate 


"Learning about a New Technology: Pineapple in 

Ghana" (with Christopher Udry, Yale University) 

Discussant: Otto Toivanen, Helsinki School of 

Economics and U.C. Berkeley 

Arturs Kalnins, Marshall School of Business, 

University of Southern California 

"An Empirical Analysis of Territorial Encroachment 

within Franchised and Company-Owned Branded 

Chains" 

Discussant: Otto Toivanen, Helsinki School of 

Economics and U.C. Berkeley 

Michael Waterson, University of Warwick 

"Market Structure and Microgeography of Entry in 

UK Fast Food" (with Joanne Sault, University of 

Warwick, and Otto Toivanen, Helsinki School of 

Economics and U.C. Berkeley) 

Discussant: Andrew Eckert, University of Alberta 

VI.I. Marketing Theory 


Chair: Dan Richards, Tufts University 

S6I1 

S6I2 

S6I3 

S6I4 

Dan Richards, Tufts University 

"Advertising, Spillovers and Market Concentration" 

(with George Norman, Tufts University, and Lynne 

Pepall, Tufts University) 

Discussant: Anthony Dukes, University of Aarhus 

Hans Jarle Kind, Norwegian School of Economics 

"Competition in Newspaper and TV Industries: 

Advertising or Consumer Payment?" (with Tore 

Nilssen, University of Oslo, and Lars Sorgard, 

Norwegian School of Economics) 

Discussant: David Balan, U.S. Federal Trade 

Commission 

Yongmin Chen, University of Colorado 

"Marketing Innovation" 

Discussant: Doh-Shin Jeon, Universitat Pompeu 

Fabra 

Simon Anderson, University of Virginia 

"Advertising Content" (with Regis Renalt, Universite 

de Cergy-Pontoise) 

Discussant: Yongmin Chen, University of Colorado 

VI.J. Dynamic Investment Models 


Chair: Luca Colombo, Trinity College Dublin 

S6J1 

S6J2 

S6J3 

Ulrich Doraszelski, Hoover Institution, Stanford 

University 

"Foundations of Markov-Perfect Industry Dynamics: 

Existence, Purification, and Multiplicity" (with Mark 

Satterthwaite, Northwestern University Kellogg 

School of Management) 

Discussant: Luca Colombo, Trinity College Dublin 

Sebastien Mitraille, University of Bristol 

"Storage Behaviour of Cournot Duopolists Over the 

Business Cycle" 

Discussant: Xavier Carpentier, Helsinki School of 

Economics 

Luca Colombo, Trinity College Dublin 

"Capital Accumulation and the Intensity of Market 

Competition: A Differential Game" (with Paola 

Labrecciosa, Trinity College Dublin) 

Discussant: Mauro Gallegati, Universita' Politecnica 

delle Marche 

45

VI.K. Empirical International Trade 


Chair: Jan De Loecker, Harvard University 

S6K1 

S6K2 

S6K3 

Tony Cockerill, University of Durham Business 

School 

"European Small Business Networks and the Impact 

of the Euro" 

Discussant: Mahmut Yasar, Emory University 

Jorge Tovar, University of California at Berkeley 

"The Welfare Effects of Trade Liberalization: 

Evidence from the Car Industry in Colombia" 

Discussant: Stefan Lachenmaier, University of 

Munich 

Mustapha Sadni-Jallab, University Lumiere Lyon 

"Antidumping as Anticompetitive Practice: Evidence 

from the United States and the European 

Community" (with Vincent Aussilloux, University of 

Paris 1, and James Kobak, Fordham Law School) 

Discussant: Jan De Loecker, Harvard University 

VI.L. Antitrust Issues in Healthcare 


Chair: Leemore Dafny, Northwestern University 


VI.M. Empirical Studies of Durable Goods 


Chair: Scott Masten, University of Michigan 


S6M1 

S6M2 

S6M3 

S6M4 

Toshiaki Iizuka, Vanderbilt University Owen School 

of Management 

"An Empirical Analysis of Planned Obsolescence" 

Discussant: Hiroshi Ohashi, University of British 

Columbia and University of Tokyo 

Adam Copeland, Federal Reserve Board of 

Governors 

"The Substitutability of New and Used Durable 

Goods" (with John Stevens, Federal Reserve Board) 

Discussant: Minsoo Park, Boston University 

Sofronis Clerides, University of Cyprus 

"Gains from Trade in Used Goods: Evidence from 

Automobiles" 

Discussant: Toshiaki Iizuka, Vanderbilt University 

Owen School of Management 

Loren Smith, University of Virginia 

"A Dynamic Equilibrium Model of the Purchase and 

Sale of Commercial Aircraft" 

Discussant: Scott Masten, University of Michigan 


S6L1 

S6L2 

S6L3 

S6L4 

William Vogt, Carnegie Mellon University 

"Competition Among Hospitals" (with Martin 

Gaynor, Carnegie Mellon University) 

Discussant: Cory Capps, Northwestern University 


David Dranove, Northwestern University Kellogg 


"The Silent Majority Fallacy of the Elzinga-Hogarty 

Criteria: A Critique and New Approach to Analyzing 

Hospital Mergers" (with Cory Capps, Northwestern 

University Kellogg School of Management, Shane 

Greenstein, Northwestern University Kellogg School 

of Management, and Mark Satterthwaite, 

Northwestern University Kellogg School of 

Management) 

Discussant: Jason Barro, Harvard Business School 

Margaret Kyle, Carnegie Mellon University 

"The Effect of Mergers on New Product Launches in 

Pharmaceuticals" 

Discussant: David Ridley, Duke University Fuqua 


Leemore Dafny, Northwestern University Kellogg 


"Evaluating the Impacts of Mergers: A Quasi- 

Experimental Approach" 

Discussant: H. E. Frech, University of California, 

Santa Barbara 

VI.N. Empirical Corporate Finance 


Chair: Eric Zitzewitz, Stanford University Graduate 


S6N1 

S6N2 

S6N3 

S6N4 

Chiara Criscuolo, Univesity College London 

"Are Financial Institutions Good or Bad for 

Productivity? Evidence from the UK" 

Discussant: Abigail Hornstein, New York University 


Anne Gron, Northwestern University Kellogg School 

of Management 

"Market Segmentation and Demand for IPOs" 

Discussant: Claudio Piga, Nottingham University 


Joe Chen, Johns Hopkins University 

"The Market Structure of NASDAQ Dealer Markets 

and Quoting Conventions" 

Discussant: Eric Zitzewitz, Stanford University 


Laura Rondi, CERIS-CNR 

"Ownership Structure, Shareholder Protection and 

Agency Costs: An Empirical Investigation of German 

and Italian Firms in the 1990s" (with Julie Ann 

Elston, University of Central Florida) 

Discussant: Magnus Lundin, Uppsala University 

46

VI.O. Relationships and Pricing in the Financial 

Services Industry 


Chair: Robin Prager, Federal Reserve Board of 

Governors 

VI.P. Does Public Policy Unintentionally Lead to Firm 

Exit? 


Chair: Paul Gertler, University of California, 


S6O1 

S6O2 

S6O3 

S6O4 

Steven Drucker, Stanford University 

"Tying Knots: Lending to Win Equity Underwriting 

Business" (with Manju Puri, Duke University) 

Discussant: Ron Borzekowski, Federal Reserve 

Board of Governors 

Ayako Yasuda, University of Pennsylvania 

"Do Bank-Firm Relationships Affect Bank 

Competition in the Corporate Bond Underwriting 

Market?" 

Discussant: Kenneth Brevoort, Federal Reserve 

Board of Governors 

Greg Nini, Federal Reserve Board of Governors 

"Is the Corporate Loan Market Globally Integrated? 

A Pricing Puzzle" (with Mark Carey, Federal Reserve 

Board of Governors) 

Discussant: George Pennacchi, University of Illinois 

Lily Fang, INSEAD 

"The Impact of Universal Banking on Industrial 

Firms: U.S. Evidence" (with Wei-ling Song, Drexel 

University) 

Discussant: Michele Danis, Office of Federal 

Housing Enterprise Oversight 

S6P1 

S6P2 

S6P3 

S6P4 

James Prieger, University of California, Davis 

"The Impacts of the Americans with Disabilities Act 

on the Entry and Exit of Retail Firms" 

Discussant: Daniel Flores-Guri, Skidmore College 

Ioana Marinescu, London School of Economics 

"Labor Law Enforcement and Workforce 

Management: Are Judges Sensitive to Firms' 

Circumstances?" 

Discussant: Todd Sinai, University of Pennsylvania 

Wharton School of Management 

Jaince Hauge, University of North Texas 

"An Empirical Analysis of Provider Exit in the 

Medicare Managed Care Market" 

Discussant: Yong-Kyun Bae, SUNY Stony Brook 

Melayne McInnes, University of South Carolina 

"The Effects of Medical Malpractice Crisis and 

Insurance Rating on Physician Labor Supply and 

Patient Welfare" (with Gary Fournier, Florida State 

University) 

Discussant: Paul Gertler, University of California, 


VI.Q. Measuring the Effect of Organization Design on 

Innovation 


Chair: Johannes Van Biesebroeck, Univ. of Toronto 

S6Q1 

S6Q2 

S6Q3 

Olivier Bertrand, University of Paris 

"Effects of Domestic and Cross-Border Mergers and 

Acquisitions on R&D Expenditures: An Investigation 

to EU Countries" (with Pluvia Zungia, Univesity of 

Paris) 

Discussant: Yukako Ono, Federal Reserve Bank of 

Chicago 

Avner Ben-Ner, University of Minnesota 

"Adjustments in Organizational Structure: Evidence 

from Panel Data" (with Stephanie Lluis, University 

of Minnesota) 

Discussant: Johannes Van Biesebroeck, University 

of Toronto 

Enrico Santarelli, University of Bologna 

"The Skill Effect of Technological and 

Organizational Change: Evidence and Policy 

Implications" (with Mariacristina Piva, Catholic 

University, Piacenza, and Marco Vivarelli, Catholic 

University, Piacenze) 

Discussant: Eugene Choo, University of Toronto 

47

Index of Participants 

An index of participants was not ready in time for inclusion in this 

program. We recommend you use a computer to search the 

program online at http://www.ios.neu.edu/ 

48

CHARLES RIVER ASSOCIATES 

is pleased to be a sponsor of 

The Industrial Organization Society’s 

second annual 


CHARLES RIVER ASSOCIATES 

is a leading provider of economic and financial analysis, 

expert testimony, and other litigation support services 

worldwide. CRA has academic affiliates at many top-rank 

institutions including Berkeley, Cornell, Georgetown, 

Harvard, the London School of Economics, MIT, Stanford, 

UCLA, and the University of Toronto. 

www.crai.com

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A LIMITED LIABILITY COMPANY 

Chicago Partners, LLC is pleased to be 

a sponsor of the Chicago IIOC 

Chicago Office: 

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140 South Dearborn Street 152 West 57th Street 

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18th Floor 

Chicago, IL 60603 New York, NY 10019 

Phone: (312) 251-5200 Phone: (646) 354-4000 

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Chicago Partners, LLC provides a multi-disciplinary approach to consulting services 

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Chicago Partners' principals are leading scholars at academic institutions such as The 

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Chicago Partners' experts have also served on the Illinois Commerce Commission, 

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EXPERTS: 

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Christopher Culp Roger Hickey Robert Topel 

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Steven Davis Jack MacCrisken Mark Zmijewski 

Robert MacLaverty


Chicago, Illinois 

April 23 rd and 24 th , 2004 

Construction: 

Sidewalks closed 

Conference Site 

Sessions 


Wieboldt Hall 

340 E. Superior St. 

3 Blocks to 

CTA 

Recommended Parking Site 

Lot D, 321 E Eerie St 

Entrance and Exit on Ontario St. 

Conference Hotel 

Luncheon and 

Breakfast Site 

Holiday Inn 

300 E. Ohio St. 

3 Blocks to 

CTA 

Holiday Inn 

Chicago 

City Centre 

Alternative Parking Site: 

Lot C, 222 E Huron St 

Entrance and Exit on both 

Huron St. and Superior St. 

All of the marked building entrances are wheelchair accessible.

International Industrial Organization Conference Wieboldt Hall ...

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