## 经济代写|产业经济学代写Industrial Economics代考|ECON7001

2022年9月22日

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## 经济代写|产业经济学代写Industrial Economics代考|Price differences across national markets

The presence of car price differences across the various countries in the EC has become well documented since the early 1980 s. One of the first studies was done by BEUC (1981), the European Bureau of Consumers Unions. BEUC showed that prices of identical car models may vary by over 90 per cent across countries. These findings were confirmed in subsequent studies: $\operatorname{BEUC}(1986,1989,1992)$, Monopolies and Mergers Commission (1992), and Commission of the European Communities (1992). For each car model available in the five studied European countries, figure $10.1$ plots the average pretax price over the five countries (in ECUs) against the maximum percentage price difference and the standard deviation of the price differences. This plot illustrates the presence of large price differences for identical models across countries in 1990. To analyse whether there are also systematic price differences across markets, a ‘hedonic’ price index may be constructed. This is a price index that adjusts for ‘quality’ differences as measured by the observed physical characteristics. Griliches (1971), for example, constructed such an index to study quality-adjusted price changes over time in the American car market. More related to the present study, Mertens and Ginsburgh (1985), Ginsburgh and Vanhamme (1989) and Mertens (1990) have constructed hedonic price indices to compare the quality adjusted car price level across several European countries.

To construct a hedonic price index, assume that the price of a car $j$ in market $m, p_{j m}$ is a function of its observed physical characteristics, a vector $w_{j m}$. Conforming to previous studies, assume the following functional form:
$$p_{j m} /\left(1+t_m\right)=\exp \left(w_{j m} \gamma+\omega_m+\omega_{j m}\right)$$ where $\omega_{j m}$ is an econometric error term. The term $\omega_m$ is a fixed effect capturing the market-specific part of car prices that cannot be attributed to the observed physical characteristics, $w_{j m}$. Equation (1) is estimated as a simple ordinary least-squares regression. The price $p_{j m} /\left(1+t_m\right)$ of car $j$ in market $m$ is the consumer list price before taxes, converted into ECUs. The vector of physical characteristics, $w_{j m}$, consists of the technical characteristics: horsepower, weight, width and height, and a set of countryof-origin dummy variables identifying French, German, Italian, UK, US, and Japanese cars from ‘other’ (mainly East European) cars. The variables are discussed in more detail in the data section below.

The market-specific fixed effects, the $\omega_m$, are estimated using dummy variables with Belgium as the reference country. The $\omega_m$ are then used to construct the hedonic price index, where the index number for market $m, p_m$, is given by the formula, $p_m=\exp \left(\omega_m\right)$. The obtained hedonic price index is presented in table 10.1. It shows that pretax prices in 1990 for cars with identical physical characteristics differ systematically across countries. They are significantly higher in Germany, and especially so in Italy and the United Kingdom, than in Belgium and France.

## 经济代写|产业经济学代写Industrial Economics代考|Geographical market segmentation

The observed cross-country price differences may follow either from systematic differences in the marginal cost of operating in the various markets or from systematic differences in markups, i.e., international price discrimination. A necessary condition for the presence of international price discrimination is the presence of arbitrage costs leading to geographical market segmentation. In the absence of arbitrage costs, consumers would exploit all cross-country differences in markups and buy cars in one country to resell them in another. Several factors do, in fact, contribute to substantial arbitrage costs associated with crossborder trade, leading to geographical market segmentation.

The distribution of cars in the EC falls under Regulation 123/85, which is a block exemption from Article 85(1) of the Treaty of Rome. This regulation was in force from 1985 to 1995 and has recently been extended for another ten years. It authorizes a selective and exclusive distribution system for new cars sold within the EC. This system aims to restrict sales of new cars in the EC to dealers chosen by the manufacturers. As a result, it becomes very difficult for independent wholesalers to buy cars in bulk in one country and resell them in another. ${ }^3$ Although Regulation 123/85 only authorizes the selective and exclusive distribution of cars on the condition that there are no ‘excessive’ price differences across the markets, ${ }^4$ this condition has never been enforced in practice. Furthermore, while final consumers in principle have the freedom to purchase their own cars abroad, they encounter considerable legal, administrative, and other obstacles in cross-border purchases. One such obstacle is the requirement of national approval of the imported model. Differences in national standards for safety and environmental reasons often make costly modifications or certification fees necessary. ${ }^5$ Another obstacle, for the United Kingdom, is the need for right-hand-drive cars. A detailed discussion of various other (administrative) consumer obstacles is provided by BEUC (1992). This discussion then indicates that there are indeed various crossborder arbitrage costs, leading to geographical market segmentation.

# 产业经济学代考

## 经济代写|产业经济学代写工业经济学代考|跨国家市场的价格差异

$$p_{j m} /\left(1+t_m\right)=\exp \left(w_{j m} \gamma+\omega_m+\omega_{j m}\right)$$其中$\omega_{j m}$是一个计量经济学误差项。术语$\omega_m$是一个固定的效应，捕捉了汽车价格中市场特定的部分，而不能归因于观察到的物理特征，$w_{j m}$。式(1)估计为一个简单的普通最小二乘回归。$m$市场上汽车$j$的价格$p_{j m} /\left(1+t_m\right)$是换算成ecu的税前消费者标价。物理特性向量$w_{j m}$由技术特性组成:马力、重量、宽度和高度，以及一组原产国虚拟变量，将法国、德国、意大利、英国、美国和日本汽车与“其他”(主要是东欧)汽车区分开来。下面的数据部分将对变量进行更详细的讨论

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## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。