Economic Analysis of Vertical Restraints and Integration in Multi-sided Markets

• Project/Area Number: 16K03667
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Economic policy
• Research Institution: Hosei University
• Principal Investigator: OKI Ryoko 法政大学, 経営学部, 准教授 (20612493)
• Co-Investigator(Kenkyū-buntansha): 石原 章史 政策研究大学院大学, 政策研究科, 准教授 (80643668)
• Project Period (FY): 2016-04-01 – 2019-03-31
• Project Status: Completed (Fiscal Year 2018)
• Budget Amount: ¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000); Fiscal Year 2018: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000); Fiscal Year 2017: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000); Fiscal Year 2016: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
• Keywords: プラットフォーム / 競争政策 / 垂直的取引制限 / 二面性市場 / 排他的取引 / 経済政策 / 産業組織論

Outline of Final Research Achievements

We consider multi-sided platform competition as allowing participants (consumers and upstream firms) to multi-home. We established a basic model which is tractable and can be applied to further theoretical and empirical research. We focus on the mechanism of vertical restrains and vertical integration between upstream firms and platforms in such markets.
Our results sharply contrast with the results of existing literature in which all participants are assumed to single-home or multi-home.
We also apply our theoretical results to the real world examples, which include pay-TV market and video game market. These case studies based on our theoretical model help us to obtain policy implications.

Academic Significance and Societal Importance of the Research Achievements

近年の技術革新に伴う取引のデジタル化は、多くの売り手や買い手が従来よりも低いコストで複数のプラットフォームに参加することを可能にした。その結果、多くの市場において、参加者のプラットフォーム選択は柔軟になり、参加者がマルチホーミングする状況が多く観察されるようになってきた。その一方で、既存の経済理論モデルでは、内生的なマルチホーミングが考慮されてこなかった。本研究で構築した理論モデルは、より現実に近い状況を説明することが可能になり、また、既存理論モデルとは異なる競争メカニズムがあることも明らかになった。これにより、より現実に即した政策的インプリケーションを導くことが可能になった。

Research Products

• [Journal Article] オンラインプラットフォームと競争 (2018)
  • Author(s): 大木良子
  • Journal Title: 季刊 Nextcom Volume: 33 Pages: 12-21
  • Open Access
• [Journal Article] Dark Sides of Patent Pools with Independent Licensing' (2018)
  • Author(s): Akifumi Ishihara and Noriyuki Yanagawa
  • Journal Title: International Journal of Industrial Organization Volume: 57 Pages: 1-34
  • DOI: 10.1016/j.ijindorg.2017.12.005
  • Peer Reviewed / Open Access
• [Journal Article] Transparency and Performance Evaluation in Sequential Agency (2017)
  • Author(s): Susumu Cato and Akifumi Ishihara
  • Journal Title: Journal of Law, Economics, & Organization Volume: 33 Issue: 3 Pages: 475-506
  • DOI: 10.1093/jleo/ewx008
  • Peer Reviewed
• [Journal Article] Minor Candidates as Kingmakers (2017)
  • Author(s): Akifumi Ishihara and Shintaro Miura
  • Journal Title: Public Choice Volume: 170 Issue: 3-4 Pages: 253-263
  • DOI: 10.1007/s11127-016-0393-9
  • Peer Reviewed
• [Journal Article] Relational Political Contribution under Common Agency (2017)
  • Author(s): Akifumi Ishihara
  • Journal Title: Journal of Public Economic Theory Volume: 19 Issue: 2 Pages: 527-547
  • DOI: 10.1111/jpet.12215
  • Peer Reviewed
• [Journal Article] Relational Contracting and Endogenous Formation of Teamwork (2017)
  • Author(s): Akifumi Ishihara
  • Journal Title: RAND Journal of Economics Volume: 印刷中 Issue: 2 Pages: 335-357
  • DOI: 10.1111/1756-2171.12178
  • Peer Reviewed / Acknowledgement Compliant
• [Journal Article] Concessions and Repression in Conflict (2016)
  • Author(s): Akifumi Ishihara and Prakarsh Singh
  • Journal Title: B.E. Journal of Economic Analysis & Policy Volume: 16 Issue: 2 Pages: 865-899
  • DOI: 10.1515/bejeap-2015-0017
  • Peer Reviewed / Int'l Joint Research
• [Journal Article] Role of Information Rents in Relational Contracts (2016)
  • Author(s): Akifumi Ishihara
  • Journal Title: Journal of Economics & Management Strategy Volume: 25 Issue: 4 Pages: 936-957
  • DOI: 10.1111/jems.12168
  • Peer Reviewed
• [Presentation] Asymmetric Product Line and Multi-Homing (2018)
  • Author(s): 大木良子
  • Organizer: The Asia Pacific Industrial Organization Conference (APIOC) (Dec. 13-15, 2018), University of Melbourne (Melbourne, Australia)
  • Int'l Joint Research
• [Presentation] “An Incomplete Contract Approach to Authority in Organizations for Choice and Execution (2018)
  • Author(s): 石原章史
  • Organizer: The Asia Pacific Industrial Organization Conference (APIOC) (Dec. 13-15, 2018), University of Melbourne (Melbourne, Australia)
  • Int'l Joint Research
• [Presentation] Asymmetric Product Line and Multi-homing (2018)
  • Author(s): 大木良子
  • Organizer: The 45th Annual Conference of the European Association for Research in Industrial Economics (EARIE) (Aug.31-Sep.2, 2018) (Athens, Greece)
  • Int'l Joint Research
• [Presentation] Managing Information and Incentives for Choice and Execution in Relational Contracts (2018)
  • Author(s): 石原章史
  • Organizer: The 45th Annual Conference of the European Association for Research in Industrial Economics (EARIE) (Aug.31-Sep.2, 2018) (Athens, Greece)
  • Int'l Joint Research
• [Presentation] Asymmetric Product Line and Multi-homing, (2018)
  • Author(s): 大木良子
  • Organizer: 日本経済学会2018年度春季大会（2018年6月9-10日）兵庫県立大学（兵庫県、神戸市）
• [Presentation] An Incomplete Contract Approach to Authority in Organizations for Choice and Execution (2018)
  • Author(s): 石原章史
  • Organizer: 日本経済学会2018年度春季大会（2018年6月9-10日）兵庫県立大学（兵庫県、神戸市）
• [Presentation] Managing Information and Incentives for Choice and Execution in Relational Contracts (2018)
  • Author(s): 石原章史
  • Organizer: 22nd Annual Conference for Institutional and Organizational Economics (SIOE), (June 21st -23rd, 2018) HEC Montreal, Canada.
  • Int'l Joint Research
• [Presentation] Managing Authority and Incentives in Relational Contracts (2018)
  • Author(s): Akifumi Ishihara
  • Organizer: 早稲田大学 金曜セミナー
  • Invited
• [Presentation] Asymmetric Product Line and Multi-homing (2018)
  • Author(s): Akifumi Ishihara and Ryoko Oki
  • Organizer: 産業組織・競争政策研究会
  • Invited
• [Presentation] Managing Information and Incentives for Choice and Execution in Relational Contracts (2018)
  • Author(s): Akifumi Ishihara and Shintaro Miura
  • Organizer: The Tokyo Conference on Economics of Institutions and Organizations
  • Int'l Joint Research / Invited
• [Presentation] 組織の中の権限配分: 関係的契約の視点から (2018)
  • Author(s): 石原章史
  • Organizer: ゲーム理論ワークショップ2018
  • Invited
• [Presentation] Managing Information and Incentives for Choice and Execution (2018)
  • Author(s): Akifumi Ishihara and Shintaro Miura
  • Organizer: Contract Theory Workshop
  • Invited
• [Presentation] Asymmetric Product Line and Multi-homing (2018)
  • Author(s): Akifumi Ishihara and Ryoko Oki
  • Organizer: 産業組織研究会
• [Presentation] On Peer Monitoring and Signals in Relational Contracts for Teams (2017)
  • Author(s): Akifumi Ishihara and Akitoshi Muramoto
  • Organizer: The Osaka Workshop on Economics of Institutions and Organizations
  • Int'l Joint Research / Invited
• [Presentation] Managing Authority and Incentives in Relational Contracts (2017)
  • Author(s): Akifumi Ishihara
  • Organizer: 慶應義塾大学 ミクロ経済学ワークショップ
  • Invited
• [Presentation] Managing Authority and Incentives in Relational Contracts (2017)
  • Author(s): Akifumi Ishihara
  • Organizer: 2017 Asian Meeting of the Econometric Society
  • Int'l Joint Research
• [Presentation] Managing Authority and Incentives in Relational Contracts (2017)
  • Author(s): Akifumi Ishihara
  • Organizer: 21st Annual Conference of the Society for Institutional & Organizational Economics
  • Int'l Joint Research
• [Presentation] Authority for Project Choice and Execution Motivation (2017)
  • Author(s): Akifumi Ishihara and Shintaro Miura
  • Organizer: CTW Summer camp 2017
• [Presentation] Managing Authority and Incentives in Relational Contracts (2017)
  • Author(s): Akifumi Ishihara
  • Organizer: Summer Workshop on Economic Theory
  • Invited
• [Presentation] Managing Authority and Incentives in Relational Contracts (2017)
  • Author(s): Akifumi Ishihara
  • Organizer: The 44th Annual Conference of the European Association for Research in Industrial Economics,
  • Int'l Joint Research
• [Presentation] Managing Authority and Incentives in Relational Contracts (2017)
  • Author(s): Akifumi Ishihara
  • Organizer: Meeting on Applied Economics and Data Analysis
  • Invited
• [Presentation] Asymmetric Product Line and Multi-homing (2017)
  • Author(s): Akifumi Ishihara and Ryoko Oki
  • Organizer: Meeting on Applied Economics and Data Analysis
• [Presentation] Managing Authority and Incentives in Relational Contracts (2017)
  • Author(s): Akifumi Ishihara
  • Organizer: The 2nd Asia-Pacific Industrial Organisation Conference
  • Int'l Joint Research
• [Presentation] Exclusive Content in Two-Sided Markets (2016)
  • Author(s): Ryoko Oki
  • Organizer: International Workshop “Competition and Public Policy in Network Industries”
  • Place of Presentation: Kwansei Gakuin University, Nishinomiya-shi (Japan)
  • Year and Date: 2016-12-05
  • Int'l Joint Research / Invited
• [Presentation] Exclusive Content in Two-Sided Markets (2016)
  • Author(s): Akifumi Ishihara
  • Organizer: Economic Theory Workshop
  • Place of Presentation: Hitotsubashi University, Kunitachi-shi (Japan)
  • Year and Date: 2016-11-10
• [Presentation] Exclusive Content in Two-Sided Markets (2016)
  • Author(s): Ryoko Oki
  • Organizer: The 43rd Annual Con- ference of the European Association for Research in Industrial Economics
  • Place of Presentation: Nova School of Business and Economics, Lisbon (Portugal)
  • Year and Date: 2016-08-26
  • Int'l Joint Research
• [Presentation] Exclusive Content in Two-Sided Markets (2016)
  • Author(s): Ryoko Oki
  • Organizer: 2016 Asian Meeting of the Econometric Society
  • Place of Presentation: Doshisha University, Kyoto (Japan)
  • Year and Date: 2016-08-11
  • Int'l Joint Research
• [Presentation] Exclusive Content in Two-Sided Markets (2016)
  • Author(s): 大木良子
  • Organizer: 産業組織・競争政策研究会
  • Place of Presentation: 京都産業大学（京都府、京都市）
  • Year and Date: 2016-07-09
• [Presentation] Exclusive Content in Two-Sided Markets (2016)
  • Author(s): 石原章史
  • Organizer: 産業組織研究会
  • Place of Presentation: 東京大学（東京都、文京区）
  • Year and Date: 2016-07-06
• [Presentation] Exclusive Content in Two-Sided Markets (2016)
  • Author(s): 大木良子
  • Organizer: 日本経済学会2016年度春季大会
  • Place of Presentation: 名古屋大学 （愛知県、名古屋市）
  • Year and Date: 2016-06-18
• [Presentation] Exclusive Content in Two-Sided Markets (2016)
  • Author(s): Akifumi Ishihara
  • Organizer: 14th annual International Industrial Organization Conference
  • Place of Presentation: Drexel University, Philadelphia (U.S.A)
  • Year and Date: 2016-04-15
  • Int'l Joint Research
• [Book] 「独禁法審判決の法と経済学: 事例で読み解く日本の競争政策」（岡田 羊祐、川濱 昇、林 秀弥編集）第8章 包括徴収による排除――JASRAC事件 (2017)
  • Author(s): 池田毅、大木良子、川濱昇
  • Total Pages: 336
  • Publisher: 東京大学出版会
• [Remarks] Exclusive Content in Two-Sided Markets
  • URL: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2941972