研討日期	2023年11月27日12:10~ 13:50
研討地點	國立臺灣大學社會科學院710會議室
主講題目 Title of the paper	Upstream market structure and downstream partial ownership
作者 Authors of the paper	Jie Shuai, Mengyuan Xia, Chenhang Zeng
文獻出處 Journal, vol.(issue), pp	Journal of Economics and Management Strategy DOI: 10.1111/jems.12493
主講人	曹古駒助理教授
參加人員	黃鴻、林燕淑、彭正浩、高國峯、施姵全、許至乙、Suttiwan Suwannajoi、王羿傑、Bui Dang-long、周冰瑤、Ayu Sasni Munte、Chisomo Mkwandah、葉定豊、Artah、朱宣宥
	Existing studies on partial ownership usually overlook the effects of vertically related markets. Our paper highlights the importance of the upstream market on downstream firms' incentives to acquire partial ownership and the consequent welfare implications. In the main model, we assume that there are three firms in the downstream market, two of which may form a partial ownership arrangement. We find several results that are in contrast to those in the literature. First, the two firms will engage in partial ownership if the upstream market is an oligopoly (triopoly or duopoly). Second, partial ownership may raise total production, consumer surplus, and social welfare. This happens when the upstream market consists of a duopoly and the two firms involved in partial ownership are supplied by different suppliers. Third, the outsider, commonly known as a free rider in the literature, may become a victim of partial ownership. Our results are robust to several extensions, including a general n‐firm framework, product differentiation, and uniform pricing by upstream firms. We also provide the conditions under which the curvature of the demand function and the convexity of the cost function motivate firms to form partial ownership.