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improve crossref spacing
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stanmart committed Oct 6, 2024
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2 changes: 1 addition & 1 deletion src/figures/equilibrium_presentation.py
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Expand Up @@ -17,7 +17,7 @@
"benchmark": "pi_P_bench",
"bargaining": "pi_P",
"pure_retail": "pi_P_noF",
"y_label": "$pi_P$",
"y_label": "$\\pi_P$",
},
"fringe-number": {
"benchmark": "N_F_bench",
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78 changes: 38 additions & 40 deletions src/presentation/defense.qmd
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Expand Up @@ -43,7 +43,7 @@ format:
:::

::: {.fragment}
- The **one indispensable / many smaller plyers** is an economically important special case
- The **one indispensable / many smaller players** is an economically important special case
:::


Expand Down Expand Up @@ -124,7 +124,7 @@ $\{P, A_1, A_2\}$ | 6

::: {.notes}
- Two ingredients: players (left) and characteristic function (right)
- We don't care about strategies, only about value achieved by coalitions
- We don't care about strategies, only about the value achieved by coalitions
:::


Expand Down Expand Up @@ -201,13 +201,13 @@ Same idea as with the Nash bargaining solution
- Axiomatic reasoning
- The Shapley-value is the only sharing rule that satisfies a **nice set of axioms**: efficiency, symmetry, linearity, dummy player axiom [@shapley1953additive]
- **Bargaining foundations**
- The value arises as the subgame-perfect equilibrium of various alternating-offer bargaining games [e.g. @gul1989bargaining; @winter1994demand; @hart1996bargaining; @stole1996intra; @inderst2003bargaining]
- The value arises as the subgame-perfect equilibrium of various alternating-offer bargaining games [e.g., @gul1989bargaining; @winter1994demand; @hart1996bargaining; @stole1996intra; @inderst2003bargaining]
- A **tractable and sensible-looking** gain-sharing rule
- Comparative statics show that it behaves as one would expect

::: {.notes}
- You don't need to think about cooperative game theory in the following part
- Think of it as a convenient gain sharing rule with some (cooperative and non-cooperative) micro-foundations
- Think of it as a convenient gain-sharing rule with some (cooperative and non-cooperative) micro-foundations
:::

<!-- CHAPTER 1 -->
Expand Down Expand Up @@ -238,7 +238,7 @@ The value of being indispensable
:::


## Relted literature
## Related literature

::: {.fragment}
- **Oceanic games** (theoretical)
Expand Down Expand Up @@ -282,7 +282,7 @@ $$
- Describes situations, such as
- platforms
- vertical relationships
- generally any setting with an important large players and many identical small ones
- generally, any setting with an important large player and many identical small ones
:::


Expand Down Expand Up @@ -783,15 +783,15 @@ Hybrid platforms and bargaining power
- Hybrid platforms are
- Getting more and more common
- Seemingly obvious concerns and high-profile competition policy cases
- Despite this, relatively little reserach
- Despite this, relatively little research
:::
::: {.fragment}
- Bargaining between participants is not well understood in the platform setting
- Authors generally assume take-it-or-leave-it offers
:::

::: {.highlight-block .fragment}
Examine the bargaining power implications of hybrid platforms and its welfare consequences
Examine the bargaining power implications of hybrid platforms and their welfare consequences
:::


Expand All @@ -800,8 +800,8 @@ Examine the bargaining power implications of hybrid platforms and its welfare co
::: {.fragment}
- **Shapley-value** based bargaining rule
- Analytically more **tractable**
- Has **bargaining microfoundations** [e.g. @hart1996bargaining; @stole1996intra]
- Has precedents in the IO literature [e.g. @hart1990property; @montez2007downstream]
- Has **bargaining microfoundations** [e.g., @hart1996bargaining; @stole1996intra]
- Has precedents in the IO literature [e.g., @hart1990property; @montez2007downstream]
:::
::: {.fragment}
- **Abstract away all frictions**
Expand All @@ -810,7 +810,7 @@ Examine the bargaining power implications of hybrid platforms and its welfare co
:::
::: {.fragment}
- Consider a **continuum of small players** case for tractability
- Good approximation of the finite player case even for not too many players
- Good approximation of the finite player case, even for not too many players
:::


Expand Down Expand Up @@ -938,7 +938,7 @@ The optimal price is an additive markup over marginal costs:
:::


## Free enetry
## Free entry

::: {.fragment}
- Potential entrants decide to enter if they can cover the
Expand All @@ -963,15 +963,15 @@ $$
## Benchmark model

::: {.fragment .highlight-block .smaller}
**Theorem. 2.1**
**Theorem. 2.1.**
The optimal entry fee is given by

$$K_F^{opt} = \sqrt{\mu I_F V_F} - I_F$$
:::

::: {.fragment .highlight-block .smaller}
**Theorem. 2.2**
In the benchmark model under hybrid regime,
**Theorem. 2.2.**
In the benchmark model, under the hybrid regime,

- The equilibrium number of fringe firms is decreasing in the platform's product variety: $\frac{\mathrm{d} N_F}{\mathrm{d} N_P} = -\frac{V_P}{V_F} < 0$.
- The equilibrium size of the aggregate and consumer surplus are independent of the platform's product variety: $\frac{\mathrm{d} A}{\mathrm{d} N_P} = \frac{\mathrm{d} CS}{\mathrm{d} N_P} = 0$.
Expand Down Expand Up @@ -1069,7 +1069,7 @@ $$

::: {.fragment .highlight-block .smaller}
**Theorem 2.3.**
In the bargaining model under hybrid regime
In the bargaining model, under the hybrid regime

- The equilibrium number of fringe firms is decreasing *fast* in the platform's product variety: $\frac{\mathrm{d} N_F}{\mathrm{d} N_P} < -\frac{V_P}{V_F}$.
- The equilibrium size of the aggregate and consumer surplus are decreasing in the platform's product variety: $\frac{\mathrm{d} A}{\mathrm{d} N_P}, \frac{\mathrm{d} CS}{\mathrm{d} N_P} < 0$.
Expand All @@ -1089,7 +1089,7 @@ Other case: @sec-alternative-param

Platform's choice of product variety: @sec-appendix-platform-choice

Extensiions: @sec-application-extensions
Extensions: @sec-application-extensions
:::


Expand All @@ -1106,15 +1106,15 @@ Other case: @sec-alternative-param

Platform's choice of product variety: @sec-appendix-platform-choice

Extensiions: @sec-application-extensions
Extensions: @sec-application-extensions
:::


## Conclusion

::: {.fragment}
- Tractable model of **hybrid platforms** in which **bargaining** plays a key role
- Applicable to other settings, too (e.g. vertical markets, franchises)
- Applicable to other settings, too (e.g., vertical markets, franchises)
:::

::: {.fragment}
Expand All @@ -1125,7 +1125,7 @@ Extensiions: @sec-application-extensions

::: {.fragment}
- **Policy implications** for such markets
- Apple, Google, etc. having their own apps
- Apple, Google, etc., having their own apps
- Microsoft acquiring Activision/Blizzard
:::

Expand All @@ -1150,22 +1150,22 @@ Characterizing multiplayer free-form bargaining
- The **one indispensable player / multiple small players** setting has real-world relevance
- Wage bargaining
- An inventor with an idea and multiple investors
- A band, where one member owns the PA system
- A band where one member owns the PA system
:::

::: {.notes}
- Need some asymmetry for interesting bargaining outcomes
- One player being indispensable is
- Natural
- Maximally asymmetrix → stronger effect
- Maximally asymmetric → stronger effect
:::


## Research question

::: {.fragment}
- Problem: non-cooperative game theory cannot provide predictions without structure
- E.g. timing of the game, who makes the offers
- E.g., timing of the game, who makes the offers
- NCGT solution is alternating offer games, but a lot depends on minor details [@hart1996bargaining]
:::

Expand Down Expand Up @@ -1195,7 +1195,7 @@ Characterizing multiplayer free-form bargaining
:::

::: {.fragment}
- We test, whether:
- We test whether:
- Outcomes vary as we would expect, based on bargaining power
- Certain CGT solution concepts provide good predictions
:::
Expand All @@ -1211,29 +1211,29 @@ Characterizing multiplayer free-form bargaining
:::: {.smaller}
::: {.fragment}
- Early unstructured bargaining papers (1950s-1990s):
- E.g. @Kalischetal1952, @Maschler1965, @NydeggerOwen1974, @RapoportKahan1976, **@MurnighanRoth1977**, @MurnighanRoth1978, @Micheneretal1979, @MichenerPotter1981, **@LeopoldWildburger1992**
- Face to face bargaining, different experimental standards
- e.g., @Kalischetal1952, @Maschler1965, @NydeggerOwen1974, @RapoportKahan1976, **@MurnighanRoth1977**, @MurnighanRoth1978, @Micheneretal1979, @MichenerPotter1981, **@LeopoldWildburger1992**
- Face-to-face bargaining, different experimental standards
:::
::: {.fragment}
- Free-form bargaining
- E.g. @Galeottietal2018, @HossainLyonsSiow2020, **@NavarroVeszteg2020**
- e.g., @Galeottietal2018, @HossainLyonsSiow2020, **@NavarroVeszteg2020**
- Almost always bilateral
:::
::: {.fragment}
- Multi-lateral bargaining
- E.g. @MonteroSeftonZhang2008, @MitsutsuneTakanori2014, @TremewanVanberg2016, @chessa2023experiment, **@ShinodaFunaki2022**
- e.g., @MonteroSeftonZhang2008, @MitsutsuneTakanori2014, @TremewanVanberg2016, @chessa2023experiment, **@ShinodaFunaki2022**
- Structured or semi-structured
:::
::: {.fragment}
- Fairness views in bargaining
- E.g. @LuhanPoulsenRoos2019, @Schwaninger2022, **@ClippelRozen2022**
- e.g., @LuhanPoulsenRoos2019, @Schwaninger2022, **@ClippelRozen2022**
:::
::::

::: {.notes}
- @MurnighanRoth1977: shoes game ($Y=0$); series of papers: information and communication structure are important
- @LeopoldWildburger1992: face to face, very long rounds, convex comb. of N + ES or SV + ES
- @NavarroVeszteg2020: bilateral, chat, tests axioms (rejets scale invariance)
- @NavarroVeszteg2020: bilateral, chat, tests axioms (rejects scale invariance)
- @ShinodaFunaki2022: chat in some treatments, semi-unstructured; how existence of core affects outcomes
- @ClippelRozen2022: outside party assigns payoffs, SV + ES
:::
Expand Down Expand Up @@ -1267,7 +1267,7 @@ How to divide the value between the players?

::: {.notes}
- Both are increasing in Y
- Nucleolus is flat for low Y (no real bargaiing power)
- Nucleolus is flat for low Y (no real bargaining power)
- SV predictions are less extreme
- Core would contain ES for Y < 67
:::
Expand Down Expand Up @@ -1338,7 +1338,7 @@ How to divide the value between the players?
## Testing the axioms {#sec-axioms}

::: {.fragment}
- Axioms charactetrizing the Shapley value and the core
- Axioms characterizing the Shapley value and the core
- Look at observed **behavior**
- **Survey** at the end of the experiment
:::
Expand Down Expand Up @@ -1377,7 +1377,7 @@ Details: @sec-axioms-appendix
- Although **more** in treatments **with high bargaining power disparity**
- Discussion **about the experiment** itself
- Players can clarify the rules for others
- Provides feeddback for the experimenters
- Provides feedback for the experimenters
:::

::::
Expand Down Expand Up @@ -1444,7 +1444,7 @@ $$
:::

::: {.fragment .smaller}
May be multi-valued, e.g.:
It may be multi-valued, e.g.:

| $\pi_P$ | $\pi_{A_1}$ | $\pi_{A_2}$ |
|:--------:|:-----------:|:-----------:|
Expand Down Expand Up @@ -1487,7 +1487,7 @@ $\{P, A_1, A_2\}$ | 6

::: {.column width="50%"}

Maximize smallest excess
Maximize the smallest excess

::: {.r-stack}

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::: {.column width="58%"}

::: {.highlight-block .fragment .smaller}
**Theorem 1.2**
**Theorem 1.2.**

Let $f$ be continuous on $[0, 1]$. Then

Expand Down Expand Up @@ -1647,9 +1647,7 @@ Weighted value: @sec-multiple-big-players
## Heterogeneity – general case {visibility="uncounted" #sec-heterogeneity-general}

::: {.highlight-block .smaller}
**Lemma 1.2**

Assume that
**Lemma 1.2.**. Assume that

- $X_n \xrightarrow[]{d} X$ where $X$ with cdf. $H$.
- The whole probability mass of $X$ is concentrated on the manifold $(a_1(s), \dots a_L(s)), t \in [0, 1]$.
Expand Down Expand Up @@ -1718,7 +1716,7 @@ $$
::: {.smaller}
- Higher platform product variety → lower consumer surplus **when platform is operating in hybrid mode**
- Does it want to have more products?
- Assume that at time 0 the platform can invest in own products at cost $I_P$ per product
- Assume that at time 0, the platform can invest in its own products at cost $I_P$ per product
:::

::: {.fragment .smaller .highlight-block}
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10 changes: 9 additions & 1 deletion src/presentation/include/custom.scss
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Expand Up @@ -27,9 +27,17 @@ a.title-link {

}

.reveal .crossref {
.reveal div.crossref {
text-align: right;
font-size: large;
position: fixed;
bottom: 5px;
right: 0px;
}

.reveal .crossref p {
margin-top: 0px;
margin-bottom: 0.2em;
}

.reveal div.slide-number {
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