The Welfare Effects of Monopoly Innovation

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models are constructed and analyzed in greater details. We discover that, technical innovation carried out by a monopolist could significantly increase the social welfare. We conclude that, in general, the criticism against monopoly innovation based on its increased dead weight loss is less accurate as previously postulated by many studies.

The Profiles of Software Pirates among Tertiary Institutions in Singapore

The study seeks to examine the perception of software piracy as well as to discover its underlying factors among Singapore’s three university communities. Some five hundred responses were gathered from students and staff. By means of cluster analysis and factor analysis, the results identify three clusters of pirate profiles as influenced by factors such as attitudes towards software publishers, general acceptance, convenience, and ethics. The decision tree method links each pirate profile to demographic and computer-related variables. It shows that while age is negatively related to software piracy, computer experience and computer usage demonstrates an ambiguous relationship to software piracy respectively. Further, the undergraduate students tend to be pirates more often than university employees, and the Malays tend to be less frequent pirates as compared to other races. It is hoped that the study will help the relevant policy makers to develop better strategies to protect and to enforce the intellectual property rights among the universities as well as in an increasingly knowledge-based economy such as Singapore.Software Piracy; Software Policy; Protection and Enforcement of Intellectual Property Rights; Cluster Analysis; Factor Analysis.

Credit Card Selection Criteria: Singapore Perspective

This study used factor analysis to examine credit card selection criteria among Singaporeans. The results showed that convenience of use and protection, economics, and flexibility were the main drivers, while the reputation of card was the least important in determining credit card selection in Singapore. Demographic results showed that high-income earners, the better educated, the elderly, married and the professional preferred the convenience-protection factor to the economic-promotional factor. Females were shown to value the promotional factor more, while males preferred the economic factor. The ethnic Malays placed a greater emphasis on the economic factor than did the ethnic Chinese. The results also showed that the number of credit card owned in Singapore is positively related to education, income, age group, and marital status. Those holding a single credit card stressed the economic factor more than those holding many cards. In Singapore, the higher income earners, the better educated, older adults, females, married, and both Chinese and Indians are more receptive to paying their monthly credit card balances in full. The results demonstrated that Singaporeans do not view the credit card selection criteria much differently from respondents from other developing and advanced nations.credit card selection, credit card usage, banking regulation, factor analysis

A Study of Pricing Evolution in the Online Toy Market

We examine the pricing trends in the online toy markets based on a unique set of panel data collected across three years’ span. The analysis was made through panel data regression models with error components and serial correlation, allowing comparisons of prices and price dispersions between the two types of online retailers as well as examinations of dynamics of prices and price dispersions. Our results indicate that both online branch of multichannel retailers (OBMCRS) and dotcoms charge similar prices on average, and over time their prices move in tandem. Although the OBMCR retailers charge significantly different prices, the dotcoms do charge similar prices. Moreover, both retailer types demonstrate different magnitudes of price dispersion that move at different rates over time. Although the price dispersion of OBMCRS is higher than that of the dotcoms at the beginning, the gap narrows over time.e-commerce, online pricing strategies, online toy market, price dispersion, pricing trends

Profiles, Use, and Perceptions of Singapore Multiple Credit Cardholders

This study analyzes Singapore’s diverse cardholders in search of variations among demographic groups, credit card profiles, and their perceptions with regards to credit card ownership and use, it then discusses possible reasons governing Singaporeans’ credit card ownership and use. A survey was conducted (n = 636), decision trees were then constructed using Chi-square automatic interaction detection algorithm (CHAID) and SPSS software AnswerTree to examine the association between the number of credit cards (target variable) and the demographic characteristics, perceptions and other credit card related variables. The number of credit cards was found to be significantly influenced by income and gender as well as perceptions that include “credit card leads to overspending”, “savings as payment source”, “unreasonable interest rates”, “credit card as status symbol”. The number of credit cards was also affected by credit card related variables such as missing payments sometimes, frequency of use, entertainment expenditures, and petrol purchase. This research provides an in-depth understanding of Singaporean multiple cardholders, thus it is useful in designing marketing strategies for card-issuers as well as anti-debt strategies for policy-makers in Singapore. Despite the importance of consumer credit, virtually no literature or research exists on the ownership and use of credit cards in Singapore, so this paper intends to close this gap. Further, by combining the demographics, cardholders’ profiles and usage patterns with the respondents’ perceptions concerning credit card ownership and use, our study offers a richer analysis to explain consumer behavior than previous literatures.Credit card ownership, credit card use, credit revolving, credit debts, decision tree, Singapore

Monopoly Innovation and Welfare Effects

Abstract In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models with non-price-taking behavior are constructed and analyzed in greater detail. We discover that technical innovation carried out by a monopolist could significantly increase the social welfare. We conclude that, in general, the criticism against monopoly innovation based on its increased deadweight loss is less accurate than previously postulated by many studies. JEL D50; D6

A Study of Price Evolution in the Online Toy Market

Abstract We study and contrast pricing and price evolution of online only (Dotcom) and online branch of multi-channel retailers (OBMCRs) based on two panel data sets collected from online toy markets. Panel data regression analyses reveal several interesting empirical results: over time, OBMCRs and Dotcoms charge similar prices on average but Dotcoms significantly increase their shipping costs that eventually drive the overall average price of Dotcoms higher than that of OBMCRs. Price dispersions of both types of retailers are persistent. The price dispersion of OBMCRs is higher than that of Dotcoms at the beginning and does not change much over time, but the price dispersion of Dotcoms increases significantly over time, indicating that the latter will eventually be higher than the former. Moreover, the OBMCRs charge significantly different prices, but the Dotcoms charge similar prices. JEL L11, L81, L8

Monopoly Innovation and Welfare Effects

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models are constructed and analyzed in greater detail. We discover that technical innovation carried out by a monopolist could significantly increase the social welfare. We conclude that, in general, the criticism against monopoly innovation based on its increased deadweight loss is less accurate than previously postulated by many studies

A Study of Pricing Evolution in the Online Toy Market

We examine the pricing trends in the online toy markets based on a unique set of panel data collected across three years’ span. The analysis was made through panel data regression models with error components and serial correlation, allowing comparisons of prices and price dispersions between the two types of online retailers as well as examinations of dynamics of prices and price dispersions. Our results indicate that both online branch of multichannel retailers (OBMCRS) and dotcoms charge similar prices on average, and over time their prices move in tandem. Although the OBMCR retailers charge significantly different prices, the dotcoms do charge similar prices. Moreover, both retailer types demonstrate different magnitudes of price dispersion that move at different rates over time. Although the price dispersion of OBMCRS is higher than that of the dotcoms at the beginning, the gap narrows over time

Medical Tourism in Singapore: A Structure-Conduct-Performance Analysis

This study presents a structure-conduct-performance analysis of the 17 Singaporean hospitals that are engaged in the medical tourism industry. Heart bypass surgery would cost an American patient US$70,000 to US$ 133,000 in the United States, but would only cost US$ 16,300 in a high-tech hospital in Singapore using Western-trained surgeons. The price differential is very important to patients traveling from the United States to Singapore