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Is there a market for work group servers? Evaluating market level demand elasticities using micro and macro models

机译：工作组服务器有市场吗？使用微观和宏观模型评估市场水平的需求弹性

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摘要

This paper contains an empirical analysis demand for “work-group” (or low-end) servers. Servers are at the centre of many US and EU anti-trust debates, including the Hewlett-Packard/Compaq merger and investigations into the activities of Microsoft. One question in these policy decisions is whether a high share of work servers indicates anything about shortrun market power. To investigate price elasticities we use model-level panel data on transaction prices, sales and characteristics of practically every server in the world. We contrast estimates from the traditional “macro” approaches that aggregate across brands and modern “micro” approaches that use brand-level information (including both “distance metric” and logit based approaches). We find that the macro approaches lead to overestimates of consumer price sensitivity. Our preferred micro-based estimates of the market level elasticity of demand for work group servers are around 0.3 to 0.6 (compared to 1 to 1.3 in the macro estimates). Even at the higher range of the estimates, however, we find that demand elasticities are sufficiently low to imply a distinct “anti-trust” market for work group servers and their operating systems. It is unsurprising that firms with large shares of work group servers have come under some antitrust scrutiny.
机译：本文包含对“工作组”（或低端）服务器的经验分析需求。服务器是许多美国和欧盟反托拉斯辩论的中心，包括惠普/康柏的合并以及对微软活动的调查。这些政策决策中的一个问题是，大量的工作服务器是否表明有关短期市场支配力的任何信息。为了调查价格弹性，我们使用有关交易价格，销售和全球几乎每台服务器的特征的模型级面板数据。我们将传统的“宏观”方法（跨品牌）和现代“微观”方法（使用品牌级信息（包括“距离度量”和基于logit的方法）进行汇总）汇总的估算值进行对比。我们发现宏观方法导致对消费者价格敏感性的高估。我们首选的基于微观的工​​作组服务器需求市场弹性的估计约为0.3到0.6（相比之下，宏观估计为1到1.3）。但是，即使在较高的估计范围内，我们发现需求弹性也足够低，以暗示工作组服务器及其操作系统具有独特的“反托拉斯”市场。毫不奇怪的是，拥有大量工作组服务器的公司受到了一些反托拉斯审查。

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    Van Reenen John;

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  • 年度 2004
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  • 原文格式 PDF
  • 正文语种 {"code":"en","name":"English","id":9}
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