skip to content
License price paths : I. Theory. : II. Evidence from Hong Kong Preview this item
ClosePreview this item
Checking...

License price paths : I. Theory. : II. Evidence from Hong Kong

Author: Kala Krishna; Ling Hui Tan; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, [1992]
Series: Working paper series (National Bureau of Economic Research), working paper no. 4237.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Abstract: In the first of the two companion papers, we show that the dynamic aspects of the license utilization decision in an uncertain environment, together with the usual policy of rewarding high license utilization with future license allocations. creates four components of the license price. These are the scarcity, asset, option, and renewal value components. Each of these components are identified and explored  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Additional Physical Format: Print version:
Krishna, Kala.
License price paths.
Cambridge, Mass. : National Bureau of Economic Research, [1992]
(OCoLC)27410697
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Kala Krishna; Ling Hui Tan; National Bureau of Economic Research.
OCLC Number: 647521150
Reproduction Notes: Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010. MiAaHDL
Description: 1 online resource (27, 20, [6] pages) : illustrations.
Details: Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Series Title: Working paper series (National Bureau of Economic Research), working paper no. 4237.
Responsibility: Kala Krishna, Ling Hui Tan.

Abstract:

Abstract: In the first of the two companion papers, we show that the dynamic aspects of the license utilization decision in an uncertain environment, together with the usual policy of rewarding high license utilization with future license allocations. creates four components of the license price. These are the scarcity, asset, option, and renewal value components. Each of these components are identified and explored in the context of the existing literature. The effect of imperfections in the license market on license price paths is also explored. In the second paper, we use monthly data on license prices and utilization to test for the presence of imperfect competition in the market for apparel quota licenses in Hong Kong. A competitive structural model which respects the dynamic aspects of the problem is developed and estimated. We argue that concentration could affect the supply side as well as the demand side by affecting the cost associated with the search. The regressions indicate that concentration of license holdings affect the supply of licenses as predicted by models of imperfect competition. Since the implementation scheme encourages full utilization, imperfect competition affects the supply path of licenses rather than total supply. Concentration does not affect the demand side. which means that search costs are not an important consideration.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/647521150> # License price paths : I. Theory. : II. Evidence from Hong Kong
    a schema:MediaObject, schema:CreativeWork, schema:Book ;
   library:oclcnum "647521150" ;
   library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/29624171#Place/cambridge_mass> ; # Cambridge, Mass.
   library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
   schema:about <http://id.worldcat.org/fast/1148844> ; # Textile industry--Econometric models
   schema:about <http://id.worldcat.org/fast/1260796> ; # China--Hong Kong
   schema:about <http://experiment.worldcat.org/entity/work/data/29624171#Topic/import_quotas_united_states_econometric_models> ; # Import quotas--United States--Econometric models
   schema:about <http://experiment.worldcat.org/entity/work/data/29624171#Topic/textile_industry_china_hong_kong_econometric_models> ; # Textile industry--China--Hong Kong--Econometric models
   schema:about <http://id.worldcat.org/fast/968185> ; # Import quotas--Econometric models
   schema:about <http://experiment.worldcat.org/entity/work/data/29624171#Topic/licenses_china_hong_kong_econometric_models> ; # Licenses--China--Hong Kong--Econometric models
   schema:about <http://id.worldcat.org/fast/1204155> ; # United States
   schema:bookFormat schema:EBook ;
   schema:contributor <http://viaf.org/viaf/50413703> ; # Ling Hui Tan
   schema:contributor <http://viaf.org/viaf/135446122> ; # National Bureau of Economic Research.
   schema:creator <http://viaf.org/viaf/265909228> ; # Kala Krishna
   schema:datePublished "1992" ;
   schema:description "Abstract: In the first of the two companion papers, we show that the dynamic aspects of the license utilization decision in an uncertain environment, together with the usual policy of rewarding high license utilization with future license allocations. creates four components of the license price. These are the scarcity, asset, option, and renewal value components. Each of these components are identified and explored in the context of the existing literature. The effect of imperfections in the license market on license price paths is also explored. In the second paper, we use monthly data on license prices and utilization to test for the presence of imperfect competition in the market for apparel quota licenses in Hong Kong. A competitive structural model which respects the dynamic aspects of the problem is developed and estimated. We argue that concentration could affect the supply side as well as the demand side by affecting the cost associated with the search. The regressions indicate that concentration of license holdings affect the supply of licenses as predicted by models of imperfect competition. Since the implementation scheme encourages full utilization, imperfect competition affects the supply path of licenses rather than total supply. Concentration does not affect the demand side. which means that search costs are not an important consideration."@en ;
   schema:exampleOfWork <http://worldcat.org/entity/work/id/29624171> ;
   schema:inLanguage "en" ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/29624171#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/29624171#Series/nber_working_paper_series> ; # NBER working paper series ;
   schema:isSimilarTo <http://www.worldcat.org/oclc/27410697> ;
   schema:name "License price paths : I. Theory. : II. Evidence from Hong Kong"@en ;
   schema:productID "647521150" ;
   schema:publication <http://www.worldcat.org/title/-/oclc/647521150#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_1992> ;
   schema:publisher <http://experiment.worldcat.org/entity/work/data/29624171#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
   schema:url <http://catalog.hathitrust.org/api/volumes/oclc/27410697.html> ;
   schema:url <http://papers.nber.org/> ;
   wdrs:describedby <http://www.worldcat.org/title/-/oclc/647521150> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/29624171#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
   schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/29624171#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
   schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/29624171#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/647521150> ; # License price paths : I. Theory. : II. Evidence from Hong Kong
   schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/29624171#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/647521150> ; # License price paths : I. Theory. : II. Evidence from Hong Kong
   schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/29624171#Topic/import_quotas_united_states_econometric_models> # Import quotas--United States--Econometric models
    a schema:Intangible ;
   schema:hasPart <http://id.loc.gov/authorities/subjects/sh2008104316> ;
   schema:name "Import quotas--United States--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/29624171#Topic/licenses_china_hong_kong_econometric_models> # Licenses--China--Hong Kong--Econometric models
    a schema:Intangible ;
   schema:hasPart <http://id.loc.gov/authorities/subjects/sh85076763> ;
   schema:name "Licenses--China--Hong Kong--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/29624171#Topic/textile_industry_china_hong_kong_econometric_models> # Textile industry--China--Hong Kong--Econometric models
    a schema:Intangible ;
   schema:hasPart <http://id.loc.gov/authorities/subjects/sh2010116198> ;
   schema:name "Textile industry--China--Hong Kong--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/1148844> # Textile industry--Econometric models
    a schema:Intangible ;
   schema:name "Textile industry--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/1204155> # United States
    a schema:Place ;
   schema:name "United States" ;
    .

<http://id.worldcat.org/fast/1260796> # China--Hong Kong
    a schema:Place ;
   schema:name "China--Hong Kong" ;
    .

<http://id.worldcat.org/fast/968185> # Import quotas--Econometric models
    a schema:Intangible ;
   schema:name "Import quotas--Econometric models"@en ;
    .

<http://viaf.org/viaf/135446122> # National Bureau of Economic Research.
    a schema:Organization ;
   schema:name "National Bureau of Economic Research." ;
    .

<http://viaf.org/viaf/265909228> # Kala Krishna
    a schema:Person ;
   schema:familyName "Krishna" ;
   schema:givenName "Kala" ;
   schema:name "Kala Krishna" ;
    .

<http://viaf.org/viaf/50413703> # Ling Hui Tan
    a schema:Person ;
   schema:familyName "Tan" ;
   schema:givenName "Ling Hui" ;
   schema:name "Ling Hui Tan" ;
    .

<http://www.worldcat.org/oclc/27410697>
    a schema:CreativeWork ;
   rdfs:label "License price paths." ;
   schema:description "Print version:" ;
   schema:isSimilarTo <http://www.worldcat.org/oclc/647521150> ; # License price paths : I. Theory. : II. Evidence from Hong Kong
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.