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Platform Competition for Advertisers and Viewers in Media Markets with Endogenous Content and Advertising

Journal of Systems Science and Systems Engineering 2020年第1期29卷 36-54页

作者： Xiaogang Lin Rui Hou Yongwu Zhou School of Management Guangdong University of TechnologyGuangzhou 510520China School of Business Administration South China University of TechnologyGuangzhou 510641China

In this paper,we investigate two competing pay-tv platforms or free-to-air media platforms that consist of two groups of agents:viewers and advertisers.The pay-tv platforms can receive revenues from charging viewers pay-per-view prices and advertising,while the free-to-air platforms can only obtain all incomes from advertising.We discuss and compare advertising intensities and program content provisions of the two competing media platforms.Our findings show that if the extent to which viewers dislike advertising(the nuisance for advertising)is more massive than the marginal benefit that advertisers receive from an additional viewer,the pay-tv stations tend to maximally differentiate their program content and charge the viewers higher pay-per-view prices.If the nuisance approaches to the marginal benefit,however,both stations should offer similar program content,and charge the viewers lower prices under certain conditions.Particularly,if both platforms provide duplicated content,they should subsidize the viewers.In contrast,we show that the free-to-air media platforms never duplicate program content with a positive nuisance for advertising,and tend to offer maximal differentiated content if the nuisance is sufficiently large.Moreover,we reveal that if the viewers greatly dislike advertising(care less about advertising),the advertising volume of the pay-tv platforms is lower(higher)than that of the free-to-air platforms.Finally,we extend our base model to the case in which a pay-tv platform competes against a free-to-air station,and numerically show that the profit of the pay-tv platform may be larger or smaller than that of the free-to-air station.

关键词： Media platforms two-sided Markets content provision advertising intensity product differentiation

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International carbon Markets under the Paris Agreement:Basic form and development prospects

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Advances in Climate Change Research 2019年第1期10卷 21-29页

作者： GAO Shuai LI Meng-Yu DUAN Mao-Sheng WANG Can State Key Joint Laboratory of Environment Simulation and Pollution Control(SKLESPC) and School of EnvironmentTsinghua UniversirBeiying100084China Institute of Energy Environment and EconomyTsinghua UniversityBeijing100084China

Article 6 of the Paris Agreement introduces two international carbon Markets that receive extensive attention and are expected to play an important role in the post-2020 climate regime.Three key elements of the two international carbon Markets,including the scope,the types of tradable units and the governance,are identified,as the basis to clarify their basic forms.Based on the key issues and their different designs identified in negotiations,this study analyzes the contributions and challenges for China to participate in international carbon Markets.Considering the inherent needs of climate change mitigation,climate finance,the development of a green"Belt and Road"and the China South-South cooperation in climate change,along with the existing domestic capacities on market mechanisms,this study puts forward the short-,medium-and long-term development prospects of the two international carbon Markets.

关键词： Paris Agreement International carbon Markets Cooperative approaches Sustainable development mechanism Climate change

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Insights from avian influenza surveillance of chickens and ducks before and after exposure to live poultry Markets

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Science China(Life Sciences) 2019年第6期62卷 854-857页

作者： Mei Li Xin Yin Lizheng Guan Xia Zhang Guohua Deng Tao Li Pengfei Cui Yong Ma Yujie Hou Jianzhong Shi Hualan Chen State Key Laboratory of Veterinary Biotechnology Harbin Veterinary Research Institute Chinese Academy of Agricultural Sciences Harbin 150069 China Guizhou Province Center for Animal Disease Prevention and Control Guiyang 550008 China

Dear Editor, Live poultry Markets are the major trading system of poultry in China and many other countries, and are also thought to be important for the generation and spread of avian influenza viruses and other avia... 详细信息

关键词： Dear Editor poultry Markets avian pathogens

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Who In flue nces the Asian-Pacific Real Estate Markets:The US,Japan or China?

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China & World Economy 2019年第6期27卷 50-78页

作者： Kim Hiang Liow Yuting Huang Jeongseop Song Department of Real Estate National University of SingaporeSingapore International School of Economics and Management Capital University of Economics and BusinessChina

As rapid economic growth in China has led to significant appreciation of urban real estate market values,this study examines China s influence on Asian-Pacific real estate Markets by focusing on their respective market integration with the US,Japan and China during the period January 2005 to December 2017.Market integration is examined by unconditional and time-varying conditional correlations,nonlinear Granger causality and dynamic connectedness effects.Overall,although the US and Japanese real estate Markets have significantly influenced return and volatility in the regional Markets,China has emerged as another major regional real estate volatility leader with rising influence over volatility integration,especially during the 2007-2011 crisis period.Financial crises have strengthened China s volatility connectedness effects and market integration with other Asian-Pacific real estate Markets.Our results imply that the benefits of regional portfolio diversification may be declining as volatility integration across the Chinese and Asian-Pacific real estate Markets becomes stronger.Therefore,diversified global investors should pay greater attention to these real estate Markets.

关键词： Asian-Pacific orthogonal real estate Markets correlation dynamic connectedness market integration nonlinear causality

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A pricing scheme for electric utility’s participation in day-ahead and real-time flexibility energy Markets

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现代电力系统与清洁能源学报（英文） 2019年第5期7卷 1294-1306页

作者： Ioannis MAMOUNAKIS Nikolaos EFTHYMIOPOULOS Dimitrios J.VERGADOS Georgios TSAOUSOGLOU Prodromos MAKRIS Emmanouel Manos VARVARIGOS Department of Electrical and Computer Engineering Institute of Communication and Computer SystemsNational Technical University of AthensAthensGreece Department of Computer Engineering and Informatics University of PatrasRio-PatrasGreece Department of Electrical and Computer Systems Engineering Monash UniversityMelbourneAustralia

Liberalized electricity Markets,smart grids and high penetration of renewable energy sources(RESs)led to the development of novel Markets,whose objective is the harmonization between production and demand,usually noted as real time of flexibility Markets.This necessitates the development of novel pricing schemes able to allow energy service providers(ESPs)to maximize their aggregated profits from the traditional Markets(trading between wholesale/day-ahead and retail Markets)and the innovative flexibility Markets.In the same time,ESPs have to offer their end users(consumers)competitive(low cost)energy services.In this context,novel pricing schemes must act,among others,as automated demand side management(DSM)techniques that are able to trigger the desired behavioral changes according to the flexibility market prices in energy consumption curves(ECCs)of the consumers.Energy pricing schemes proposed so far,e.***.realtime pricing,interact in an efficient way with wholesale market.But they do not provide consumers with strong enough financial incentives to modify their energy consumption habits towards energy cost curtailment.Thus,they do not interact efficiently with flexibility Markets.Therefore,we develop a flexibility real-time pricing(FRTP)scheme,which offers a dynamically adjustable level of financial incentives to participating users by fairly rewarding the ones that make desirable behavioral changes in their ECCs.Performance evaluation results demonstrate that the proposed FRTP is able to offer a 15%–30%more attractive trade-off between the stacked profits of ESPs,i.***.the sum of the profits from retail and flexibility Markets,and the satisfaction of consumers.

关键词： Demand response Flexibility Markets Realtime pricing(RTP) Behavioral change Energy efficiency

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China-Japan Cooperation in Third-Party Markets: Japan's Strategic Thinking and Its Obstacles

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China International Studies 2019年第4期64卷 64-81页

作者： Wang Jingchao the China Institute of Boundary and Ocean Studies the Collaborative Innovation Center for Territorial Sovereignty and Maritime Rights the WHU’s Center for Japan Studies

Positive signs have been shown in Japan's attitude toward China's Belt and Road Initiative (BRI) since 2017. The two countries have reached significant consensus on third-party market cooperation along the Belt and Road routes. Third-party market cooperation is not only expected to become an innovative platform for Sino-Japanese economic exchanges in the new era, but it is also a valuable asset for durable and sustained future of bilateral relations. Therefore, an in-depth analysis is necessary on Japan's policy considerations and the realistic obstacles it faces when cooperating in third-party Markets, in order to address challenges and advance China-Japan partnership.

关键词： China-Japan Cooperation Third-Party Markets Japan's Strategic Thinking

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PANDEMIC PRICING Insider Advice for Investing in Volatile Markets

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城市漫步（上海版、英文） 2020年第5期 36-38页

作者： Ryan Gandolfo 不详

After experiencing a decade-long bull market,global stock Markets emphatically crashed amid the global spread of COVID-19.In late February,the largest one-week decline since the 2008 financial crisis was reported from stock Markets around the globe.Markets continued to experience high volatility in March,with March 9 and March 12 being dubbed Black Monday I and Black Thursday,respectively,for colossal sell-offs across Markets in Europe and the US.

关键词： Markets market financial

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Analysis of the operation of textile and apparel specialized Markets in the first half of 2019

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China Textile 2019年第9期 54-56页

In the first half of 2019,China's textile and apparel specialized Markets overcame many problems,such as the increase of abnormal weather affecting market operation,the reduction of consumption confidence due to Sino-US trade friction,and the urgency of market transformation in urban restructuring.Through active innovation,it promotes the deep integration of online and offline Markets,and meets needs of the new consumption classification,and realizes the innovation and upgrading of its own functional positioning.

关键词： textile Markets positioning

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国际大宗商品市场与国内外股票市场对我国大宗商品市场溢出效应的研究

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农业科学 2018年第8期8卷 976-986页

作者：姜鹏张斌北京市农林科学院农业信息与经济研究所北京

随着金融市场的高度国际化与大宗商品市场金融程度的加深,国内大宗商品市场将面临着多种市场的冲击。本文分别从均值溢出效应和波动溢出效应的两个角度,运用VAR模型和DCC-MGARCH模型分析国际大宗商品市场与国内外股票市场对我国大宗商... 详细信息

随着金融市场的高度国际化与大宗商品市场金融程度的加深,国内大宗商品市场将面临着多种市场的冲击。本文分别从均值溢出效应和波动溢出效应的两个角度,运用VAR模型和DCC-MGARCH模型分析国际大宗商品市场与国内外股票市场对我国大宗商品市场的作用。结果表明,国际股票市场、国际大宗商品市场对我国大宗商品市场均值溢出效应与波动溢出效应均比较明显,但是国内股票市场与我国大宗商品市场间的联系还不够紧密。

关键词：溢出效应大宗商品市场股票市场 VAR模型 Spillover Effects Commodity Markets Stock Market VAR Model

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Exploring Third-party Markets through BRI

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China Today 2019年第1期68卷 42-43页

作者： WU HAO the Silk Road Research In-stitute of Beijing Foreign Studies University

IN June 2015,China and France released a joint statement to explore third-party Markets.The statement,for the first time,put forward the concept of“cooperation in third-party Markets,”and defined the key areas to be... 详细信息

关键词： China and France third-party Markets

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