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VERSION:2.0
PRODID:icalendar-ruby
CALSCALE:GREGORIAN
X-WR-CALNAME:Economics Job Market Paper Presentation
X-WR-TIMEZONE:Central Time (US & Canada)
BEGIN:VEVENT
DTSTAMP:20260614T230959Z
UID:tag:localist.com\,2008:EventInstance_45430851791083
DTSTART:20240125T160000Z
DTEND:20240125T173000Z
DESCRIPTION:Jonathan McClure presenting\, "Markups and Costs under Capacity
  Constraints: the Welfare Effects of Hotel Mergers".\n\nAbstract: Hotel ch
 ain mergers increase markups through market concentration\, but also stand
  to decrease average costs through added efficiencies. The pass-through of
  these cost reductions to consumers—versus rising markups—leads to amb
 iguous welfare effects. This paper constructs an equilibrium model of the 
 U.S. hospitality sector\, incorporating a flexible model of costs which ca
 ptures firm capacity constraints. I show that firms with larger hotel port
 folios face lower average costs and softer capacity constraints when pproa
 ching full occupancy. In hypothetical merger scenarios\, I provide evidenc
 e for when efficiencies result in pro-competitive effects. A merger of lar
 ge chains decreases average costs for merging firms (−12.7%) but harms c
 onsumer surplus (−2.0%)\, while the acquisition of an independent hotel 
 modestly decreases average costs (−2.8%) while raising consumer surplus 
 (0.1%) as efficiencies are passed through.
GEO:41.87839;-87.627045
LOCATION:\, 407
SUMMARY:Economics Job Market Paper Presentation
URL;VALUE=URI:https://events.depaul.edu/event/economics_job_market_paper_pr
 esentation_7730
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