Price Discrimination and Competition in Many-to-Many Matching Markets

多对多匹配市场中的价格歧视和竞争

• 批准号: 1156077
• 负责人: Alessandro Pavan
• 金额: $ 26.68万
• 依托单位: Northwestern University
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2012
• 资助国家: 美国
• 起止时间: 2012-03-15 至 2016-02-29
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=1156077&HistoricalAwards=false
• 关键词: Price; Discrimination; Competition; Many; Matching

This project develops a new theoretical framework for studying many-to-many matching markets, that is, markets where the product sold by a platform firm is access to other agents. The research team first investigates how platforms can engage in second-degree price discrimination to sort agents into multiple (possibly non-exclusive) networks. Despite the fact that these practices are common in many-to-many matching markets such as the provision of health care, cable TV, internet services, and online advertising, the theoretical analysis of such practices is limited. They use a mechanism design approach. This allows them to shed light on the platforms' profit-maximizing practices and on the allocations that they induce, without imposing ad-hoc restrictions on the network architecture (e.g., single-homing) and on the pricing strategies (e.g., two-part tariffs). The starting point of the analysis is the recognition of the fact that agents in such markets typically have private information both about their willingness to pay to reach other agents as well as about idiosyncratic characteristics that determine their attractiveness for those agents they are matched to. For example, in the contest of health care, patients have private information both about their willingness to pay to join different physician networks, as well as about various idiosyncratic characteristics (health status, life style, risks) that determine the profits that the physicians expect from having such patients in the network. The analysis sheds light on (i) the distortions associated with the private and public provision of matching services, (ii) how such distortions depend on the degree of platform competition, (iii) how the government can increase welfare by correcting such inefficiencies using instruments such as subsidies and taxes (and, in some cases, imposing universal service obligations), but also (iv) what network structures are more likely to emerge under private and public provision (e.g., single-homing vs multi-homing), (v) the effects on profits, network structure, and welfare of various shocks that alter the distribution of valuations and/or the attractiveness of the two sides. The team also studies how the dispersion of information affects the equilibrium prices and the network allocations in two-sided markets where multiple platforms compete to attract users on each side. The researchers develop a model where agents are allowed to have horizontally differentiated preferences for the services of the competing platforms as well as private information both about their utility from joining the platforms and about the distribution of preferences and information in the cross-section of the population. This richness is meant to shed light on how the familiar effects that emerge in two-sided markets due to network externalities interact with the novel (and unexplored) effects coming from the dispersion of information. The analysis uses techniques from the literature on "global games" to obtain the convenience of equilibrium uniqueness while at the same time permitting the outcome of such equilibrium to depend on the endogenous pricing strategies of the competing platforms. Understanding the role that the dispersion of information plays in such markets is instrumental, for example, to understanding the effects of platforms' advertising campaigns on network structure, profits, consumer surplus, and welfare. The proposed activity is expected to be relevant both for the various branches of economic theory interested in matching problems (two-sided markets, health care economics, school assignment problem, network economics), but also for practitioners in such markets who can use the theoretical analysis for experimental and empirical work. The results will be useful for competition policy, policy to promote the adoption of new technologies, and health care policy.

该项目开发了一个新的理论框架，用于研究多对多匹配市场，即平台公司销售的产品可以进入其他代理商的市场。 研究团队首先调查了平台如何进行二级价格歧视，将代理商分为多个（可能是非排他性的）网络。尽管这些做法在多对多匹配市场中很常见，如提供医疗保健、有线电视、互联网服务和在线广告，但对这些做法的理论分析是有限的。他们采用了一种机制设计方法。这使得他们能够揭示平台的利润最大化实践及其诱导的分配，而不会对网络架构施加特别限制（例如，单归属）和定价策略（例如，两部分关税）。 分析的出发点是认识到这样一个事实，即在这样的市场中的代理商通常有私人信息，他们愿意支付达到其他代理商，以及关于特质的特点，确定他们的吸引力，他们是匹配的。例如，在医疗保健的竞争中，患者既有关于他们愿意付费加入不同医生网络的私人信息，也有关于各种特质特征（健康状况、生活方式、风险）的私人信息，这些特质特征决定了医生希望从网络中的患者中获得的利润。 该分析揭示了（i）与私人和公共提供匹配服务相关的扭曲，（ii）此类扭曲如何取决于平台竞争的程度，（iii）政府如何通过使用工具纠正此类低效率来增加福利补贴和税收（以及在某些情况下，规定普遍服务义务），而且（iv）在私人和公共提供下更有可能出现哪些网络结构（例如，单宿主与多宿主），（v）对利润的影响，网络结构，以及改变估值分布和/或双方吸引力的各种冲击的福利。 该团队还研究了信息的分散如何影响双边市场中的均衡价格和网络分配，在双边市场中，多个平台竞争吸引每一方的用户。研究人员开发了一个模型，允许代理人对竞争平台的服务具有水平差异化的偏好，以及关于他们加入平台的效用以及关于偏好和信息在人群中的分布的私人信息。这种丰富性旨在阐明双边市场中由于网络外部性而出现的熟悉效应如何与信息分散所产生的新（和未探索的）效应相互作用。分析使用的技术从文献中的“全球游戏”，以获得均衡的唯一性的便利，而在同一时间允许这种均衡的结果取决于内生的竞争平台的定价策略。理解信息传播在这些市场中的作用有助于理解平台广告活动对网络结构、利润、消费者剩余和福利的影响。 拟议的活动预计将是相关的经济理论的各个分支感兴趣的匹配问题（双边市场，医疗保健经济学，学校分配问题，网络经济学），但也为从业者在这样的市场谁可以使用的理论分析实验和实证工作。研究结果将对竞争政策、促进采用新技术的政策和医疗保健政策有用。