An Economist's Guide to Digital Music: Presented at CESifo Economic Studies Conference on Understanding the Digital Economy: Facts and Theory, July 2004
What is the cost of low participation in French timber auctions?
Applied Economics, 2012
ABSTRACT How much is the standing timber from public forests worth? To estimate the value of a ti... more ABSTRACT How much is the standing timber from public forests worth? To estimate the value of a timber lot, we adopt the transaction evidence appraisal approach using data from timber auctions in Lorraine (Eastern France) accounting for the facts that: (i) the seller's reserve prices are secret, (ii) there remain many unsold lots and (iii) the number of bidders varies across auctions. Taking into account the endogenous participation in our hedonic price equation for the highest bid, we estimate that, compared to lots that receive two bids, the highest bid is 22% lower when there is only one bid and 37% higher when there are three or more bids.
Digital products have the property that they can be copied almost costlessly. This makes them can... more Digital products have the property that they can be copied almost costlessly. This makes them candidates for non-commercial copying by final consumers. Because the copy of a copy typically does not deteriorate in quality, copying products can become a wide-spread phenomenon - this can be illustrated by the surge of file-sharing networks. In this paper we provide a critical overview
We use a unique database including detailed measures of competitive pressure at the firm level to... more We use a unique database including detailed measures of competitive pressure at the firm level to assess the effect of product market competition on R&D intensity levels. We find that traditional measures of competitive pressure such as the number of competitors and market position do not significantly influence R&D intensity levels. However we find that the nature and the 'quality' of competition significantly influence R&D intensity.
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Papers by P. Waelbroeck