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題名 由賽局理論看新興市場中汽車業之策略性發展
Strategic Development of Automotive Industry in Emerging Market-From the Perspective of Game Theory
作者 王其宏
貢獻者 溫偉任
王其宏
日期 2002
上傳時間 10-May-2016 16:19:19 (UTC+8)
摘要 　　In this study, a Betrand model based on Game theory is established to simulate the automotive industrial competition happened in emerging market. Chamberlian representative consumer model is also used in the assumption to describe the relationship between competition and constant substitution elasticity. Fixed cost investment like R&D expenditure is considered for product differentiation. The results show if fixed cost investment can be neglected, corner solution for maximum product differentiation is dominant strategy for local assembled vehicle. However, if fixed cost investment is taken into account, interior solution exists for optimum differentiation level to maximize profit of local carmaker. A Hedonic regression is also adopted for empirical research and Taiwan market as an example. Data shows price of SUV and MPV is relative lower than those traditional sedans with the same rest characteristics. Competitors are also identified for 54 models of year 2000 in terms of Feenstra` model.
ABSTRACT
     ACKNOWLEDGEMENT
     CONTENTS-----I
     LIST OF TABLES-----III
     LIST OF FIGURES-----IV
     LIST OF SYMBOLS-----V
     1. Introduction-----01
     　　1.1 Backgrounds and Motivation-----01
     　　1.2 Objectives-----02
     　　1.3 Structures and Methodology-----03
     2 Literature Review-----04
     　　2.1 The definition of “Emerging Market”-----04
     　　2.2 The characteristics of Emerging Market-----05
     　　2.3 The importance of emerging market from the viewpoint of international trade-----06
     　　2.4 The importance of automotive industry from the perspective of FDI and international trade in emerging market-----07
     　　2.5 Historic and recent worldwide automotive industry development-----08
     　　2.6 Literature review on issues relating to automotive industry-----09
     　　2.7 Product differentiation and Competition-----11
     　　2.8 Hedonic Regression-----12
     3 Modeling-----15
     　　3.1 CH and r are all exogenous variables and r is independent respect to cost-----16
     　　3.2 r is relating to fixed cost investment and in increasing return to scale-----19
     　　3.3 Feenstra`s Hedonic Regression Model-----22
     4 Results and Discussions-----26
     　　4.1 The comparison with traditional formulation models-----26
     　　4.2 The homogeneous case when differentiation level r approaching to 1-----27
     　　4.3 The general condition for the existence of solution-----28
     　　4.4 The effect of fixed cost investment-----29
     　　4.5 Simple results from Hedonic Regression-----32
     5 Conclusions-----48
     REFERENCES-----51
     
     LIST OF TABLES
     Table 1. Taiwan passenger car sales summary from 1996 to 2000-----33
     Table 2. 2000 Jan~Dec. Top`s in Each Retail Segment-----35
     Table 3. 2001 Jan~Dec. Top`s in Each Retail Segment-----36
     Table 4. Competitors in the seven variables model-----45
     
     LIST OF FIGURES
     Fig.1 Profit of local car manufacturer vs. differentiation lever r (A1/A2=0.1, 0.5, 0.9, 2)-----17
     Fig.2 First order of local car manufacturer profit vs. differentiation level r (A1/A2=0.1)-----18
     Fig.3 Second order of local car manufacturer profit vs. differentiation level r (A1/A2=0.1)-----18
     Fig.4 Profit of local car manufacturer vs. differentiation lever r (K=10CF*t,CF*t/a-CF=0.1,0.5,0.01)-----21
     Fig.5 Profit of local car manufacturer vs. differentiation lever r (K=1000CF*t,CF*t/a-CF=0.001)-----22
     Fig.6 Profit of local car manufacturer vs. differentiation level r (A1/A2=0.1, 0.5, A2=1)-----29
     Fig.7 Profit of local car manufacturer vs. differentiation level r (CF*t/a-CF=0.1, K-=10,100, 1000CF*t)-----30
     Fig.8 Profit of local car manufacturer vs. differentiation level r (CF*t/a-CF=0.001,K=10,100, 1000CF*t)-----30
     Fig.9 Market share of imported vehicle Y vs. differentiation level r (CF*t/a-CF=0.001,CF*t/a-CF=0.01)-----32
     Fig.10 Residual model analysis for 7 variables regression-----40
     Fig.11 Interaction plot among the variables SUV, Import, Lseat-----44
參考文獻 1. Bell, R..T. (1989) ‘Content Protection in the Motor Vehicle Industry in the Presence of Joint Ventures,’ The South African Journal of Economics, 57:2, 103-123.
     2. Bresnahan, T.F. (1981) ‘Departures from marginal-cost pricing in the American automobile industry,’ Journal of Econometrics, 17, 201-227.
     3. Carlton, D.W. and Perloff, J.M. (1994) ‘Modern Industrial Organization,’ New York: HarperCollins College Publishers.
     4. Chamberlin, E.H. (1933) ‘The Theory of Monopolistic Competition,’ Cambridge, MA: Harvard University Press.
     5. Chamberlin, E.H. (1965) ‘The Theory of Monopolistic Competition,’ Cambridge, MA: Harvard University Press.
     6. Court, A.T. (1939) ‘Hedonic Price Indexes with Automotive Examples,’ The Dynamics of Automobile Demand, N.Y.: The G.M. Co, 99-117.
     7. Dickson, P.R. and Ginter, J.L. (1987) ‘Market Segmentation, Product Differentiation, and Market Strategy,’ The Journal of Marketing, April, 1-10.
     8. Dinopoulos, E. and Kreinin, M.E. (1988) ‘Effects on the U.S.-Japan Auto VER on European Prices and on U.S. Welfare,’ The Review of Economics and Statistics, 70:3, 484-491.
     9. Freenstra, R.C. (1984) ‘Voluntary Export Restraint in U.S. Autos, 1980-81: Quality, Employment, and Welfare Effects,’ in R.E. Baldwin and A.O. Krueger ed., The Structure and Evolution of Recent U.S. Trade Policy (Chicago: The University of Chicago Press).
     10. Feenstra, R.C. (1988,a) ‘Quality Change under Trade Restraints in Japanese Autos,’ Quarterly Journal of Economics, 131-146.
     11. Feenstra, R.C. (1988,b) ‘Gains from trade in differentiated products: Japanese compact trucks,’ in R. Feenstra, ed., Empirical methods for international trade 119-136. (Cambridge, MA: MIT Press)
     12. Fung, K.C. (1991) ‘Collusive Intra-industry Trade,’ Canadian Journal of Economics, 24, 391-404.
     13. Gavin, D.A. (1987) ‘Competing on the Eight Dimensions of Quality,’ Harvard Business Review, November-December, 101-109.
     14. Griliches, Z. (1971) ‘Hedonic Price Indexes for Automobiles: An Econometric Analysis of Quality Change,’ in Griliches, Z. ed., Price Indexes and Quality Change (Cambridge, MA: Harvard University Press)
     15. Hotelling, H (1929) ‘Stability in Competition,’ Economic Journal 39, 41-57.
     16. Keppler, M. and Lechner, M. (1997) ‘Emerging Markets,’ Homewood, IL: Richard D. Irwin, Inc.
     17. Khanna, T. and Palepu, K. (1997) ‘Why Focused Strategy May Be Wrong for Emerging Markets,’ Harvard Business Review, July-August, 41-51.
     18. Kotler, P. (1996) ‘Marketing Management,’ Englewood Cliffs, NJ: Prentice-Hall, Inc.
     19. Krishna, K. (1985) ‘Protection and the Product Line: Monopoly and Product Quality,’ NBER Working Paper No. 1537.
     20. Lamming, R. (1993) ‘Beyond Partnership,’ Englewood Cliffs, NJ: Prentice-Hall, Inc.
     21. Levinsohn, J. and Feenstra, R.C. (1990) ‘Identifying the Competition,’ Journal of International Economics, 28, 199-215.
     22. Lu, A.Y. and B.J. Liu (1990) ‘Quality Shift and Price Changes Under Tariff Reduction-The Case of Passenger Cars in Taiwan,’ Academia Economic Papers, 18, 159-177.
     23. Maxton, G.P. (2001) ‘Asian Car Forecast to 2005,’ Evesham: Just-sites.com Ltd.
     24. Mussa, M. and Rosen, S. (1978) ‘Monopoly and Product Quality,’ Journal of Economic Theory, 18, 301-317.
     25. Porter, M.E. (1976) ‘Interbrand Choice, Strategy and Bilateral Market Power,’ Cambridge, MA: Harvard University Press.
     26. Porter, M.E. (1980) ‘Competitive Strategy,’ New York: Collier Macmillan.
     27. Rosen, S. (1974) ‘Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition,’ Journal of Political Economy, 92, 34-55.
     28. Samuelson, P.A. (1976), ‘Economics,’ New York: McGraw-Hill Book Company.
     29. Shy, O. (1996), ‘Industrial Organization,’ Cambridge, MA: The MIT Press.
     30. Stockhausen, G.L. (1988) ‘Threats of Quotas in International Trade,’ New York: Greenwood Press.
     31. The Economist (2000) ‘Road Rage,’ The Economist, 354, 79.
     32. The Economist (2002) ‘Incredible Shrinking Plants,’ The Economist, 362, 71-74.
     33. Weng, Y.H. (1993) ‘Strategic Interactions, Trade Policy and Direct Foreign Investment,’ The Chinese Economic Association Annual Conference Proceedings, 167-181.
     34. Weng, Y.H. (1998) ‘The Effects of Local Content Requirements on Assistance and Technological Upgrading in the Intermediate-Goods Industry,’ Taiwan Economic Review, 26:2, 219-242.
     35. World Trade Organization (2001) ‘Trade Review 2001,’ Geneva: World Trade Organization.
描述 碩士
國立政治大學
經營管理碩士學程(EMBA)
資料來源 http://thesis.lib.nccu.edu.tw/record/#A2010000561
資料類型 thesis
dc.contributor.advisor 溫偉任zh_TW
dc.contributor.author (Authors) 王其宏zh_TW
dc.creator (作者) 王其宏zh_TW
dc.date (日期) 2002en_US
dc.date.accessioned 10-May-2016 16:19:19 (UTC+8)-
dc.date.available 10-May-2016 16:19:19 (UTC+8)-
dc.date.issued (上傳時間) 10-May-2016 16:19:19 (UTC+8)-
dc.identifier (Other Identifiers) A2010000561en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/96033-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 經營管理碩士學程(EMBA)zh_TW
dc.description.abstract (摘要) 　　In this study, a Betrand model based on Game theory is established to simulate the automotive industrial competition happened in emerging market. Chamberlian representative consumer model is also used in the assumption to describe the relationship between competition and constant substitution elasticity. Fixed cost investment like R&D expenditure is considered for product differentiation. The results show if fixed cost investment can be neglected, corner solution for maximum product differentiation is dominant strategy for local assembled vehicle. However, if fixed cost investment is taken into account, interior solution exists for optimum differentiation level to maximize profit of local carmaker. A Hedonic regression is also adopted for empirical research and Taiwan market as an example. Data shows price of SUV and MPV is relative lower than those traditional sedans with the same rest characteristics. Competitors are also identified for 54 models of year 2000 in terms of Feenstra` model.en_US
dc.description.abstract (摘要) ABSTRACT
     ACKNOWLEDGEMENT
     CONTENTS-----I
     LIST OF TABLES-----III
     LIST OF FIGURES-----IV
     LIST OF SYMBOLS-----V
     1. Introduction-----01
     　　1.1 Backgrounds and Motivation-----01
     　　1.2 Objectives-----02
     　　1.3 Structures and Methodology-----03
     2 Literature Review-----04
     　　2.1 The definition of “Emerging Market”-----04
     　　2.2 The characteristics of Emerging Market-----05
     　　2.3 The importance of emerging market from the viewpoint of international trade-----06
     　　2.4 The importance of automotive industry from the perspective of FDI and international trade in emerging market-----07
     　　2.5 Historic and recent worldwide automotive industry development-----08
     　　2.6 Literature review on issues relating to automotive industry-----09
     　　2.7 Product differentiation and Competition-----11
     　　2.8 Hedonic Regression-----12
     3 Modeling-----15
     　　3.1 CH and r are all exogenous variables and r is independent respect to cost-----16
     　　3.2 r is relating to fixed cost investment and in increasing return to scale-----19
     　　3.3 Feenstra`s Hedonic Regression Model-----22
     4 Results and Discussions-----26
     　　4.1 The comparison with traditional formulation models-----26
     　　4.2 The homogeneous case when differentiation level r approaching to 1-----27
     　　4.3 The general condition for the existence of solution-----28
     　　4.4 The effect of fixed cost investment-----29
     　　4.5 Simple results from Hedonic Regression-----32
     5 Conclusions-----48
     REFERENCES-----51
     
     LIST OF TABLES
     Table 1. Taiwan passenger car sales summary from 1996 to 2000-----33
     Table 2. 2000 Jan~Dec. Top`s in Each Retail Segment-----35
     Table 3. 2001 Jan~Dec. Top`s in Each Retail Segment-----36
     Table 4. Competitors in the seven variables model-----45
     
     LIST OF FIGURES
     Fig.1 Profit of local car manufacturer vs. differentiation lever r (A1/A2=0.1, 0.5, 0.9, 2)-----17
     Fig.2 First order of local car manufacturer profit vs. differentiation level r (A1/A2=0.1)-----18
     Fig.3 Second order of local car manufacturer profit vs. differentiation level r (A1/A2=0.1)-----18
     Fig.4 Profit of local car manufacturer vs. differentiation lever r (K=10CF*t,CF*t/a-CF=0.1,0.5,0.01)-----21
     Fig.5 Profit of local car manufacturer vs. differentiation lever r (K=1000CF*t,CF*t/a-CF=0.001)-----22
     Fig.6 Profit of local car manufacturer vs. differentiation level r (A1/A2=0.1, 0.5, A2=1)-----29
     Fig.7 Profit of local car manufacturer vs. differentiation level r (CF*t/a-CF=0.1, K-=10,100, 1000CF*t)-----30
     Fig.8 Profit of local car manufacturer vs. differentiation level r (CF*t/a-CF=0.001,K=10,100, 1000CF*t)-----30
     Fig.9 Market share of imported vehicle Y vs. differentiation level r (CF*t/a-CF=0.001,CF*t/a-CF=0.01)-----32
     Fig.10 Residual model analysis for 7 variables regression-----40
     Fig.11 Interaction plot among the variables SUV, Import, Lseat-----44		-
dc.description.tableofcontents ABSTRACT
     ACKNOWLEDGEMENT
     CONTENTS-----I
     LIST OF TABLES-----III
     LIST OF FIGURES-----IV
     LIST OF SYMBOLS-----V
     1. Introduction-----01
     　　1.1 Backgrounds and Motivation-----01
     　　1.2 Objectives-----02
     　　1.3 Structures and Methodology-----03
     2 Literature Review-----04
     　　2.1 The definition of “Emerging Market”-----04
     　　2.2 The characteristics of Emerging Market-----05
     　　2.3 The importance of emerging market from the viewpoint of international trade-----06
     　　2.4 The importance of automotive industry from the perspective of FDI and international trade in emerging market-----07
     　　2.5 Historic and recent worldwide automotive industry development-----08
     　　2.6 Literature review on issues relating to automotive industry-----09
     　　2.7 Product differentiation and Competition-----11
     　　2.8 Hedonic Regression-----12
     3 Modeling-----15
     　　3.1 CH and r are all exogenous variables and r is independent respect to cost-----16
     　　3.2 r is relating to fixed cost investment and in increasing return to scale-----19
     　　3.3 Feenstra`s Hedonic Regression Model-----22
     4 Results and Discussions-----26
     　　4.1 The comparison with traditional formulation models-----26
     　　4.2 The homogeneous case when differentiation level r approaching to 1-----27
     　　4.3 The general condition for the existence of solution-----28
     　　4.4 The effect of fixed cost investment-----29
     　　4.5 Simple results from Hedonic Regression-----32
     5 Conclusions-----48
     REFERENCES-----51
     
     LIST OF TABLES
     Table 1. Taiwan passenger car sales summary from 1996 to 2000-----33
     Table 2. 2000 Jan~Dec. Top`s in Each Retail Segment-----35
     Table 3. 2001 Jan~Dec. Top`s in Each Retail Segment-----36
     Table 4. Competitors in the seven variables model-----45
     
     LIST OF FIGURES
     Fig.1 Profit of local car manufacturer vs. differentiation lever r (A1/A2=0.1, 0.5, 0.9, 2)-----17
     Fig.2 First order of local car manufacturer profit vs. differentiation level r (A1/A2=0.1)-----18
     Fig.3 Second order of local car manufacturer profit vs. differentiation level r (A1/A2=0.1)-----18
     Fig.4 Profit of local car manufacturer vs. differentiation lever r (K=10CF*t,CF*t/a-CF=0.1,0.5,0.01)-----21
     Fig.5 Profit of local car manufacturer vs. differentiation lever r (K=1000CF*t,CF*t/a-CF=0.001)-----22
     Fig.6 Profit of local car manufacturer vs. differentiation level r (A1/A2=0.1, 0.5, A2=1)-----29
     Fig.7 Profit of local car manufacturer vs. differentiation level r (CF*t/a-CF=0.1, K-=10,100, 1000CF*t)-----30
     Fig.8 Profit of local car manufacturer vs. differentiation level r (CF*t/a-CF=0.001,K=10,100, 1000CF*t)-----30
     Fig.9 Market share of imported vehicle Y vs. differentiation level r (CF*t/a-CF=0.001,CF*t/a-CF=0.01)-----32
     Fig.10 Residual model analysis for 7 variables regression-----40
     Fig.11 Interaction plot among the variables SUV, Import, Lseat-----44		zh_TW
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#A2010000561en_US
dc.title (題名) 由賽局理論看新興市場中汽車業之策略性發展zh_TW
dc.title (題名) Strategic Development of Automotive Industry in Emerging Market-From the Perspective of Game Theoryen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) 1. Bell, R..T. (1989) ‘Content Protection in the Motor Vehicle Industry in the Presence of Joint Ventures,’ The South African Journal of Economics, 57:2, 103-123.
     2. Bresnahan, T.F. (1981) ‘Departures from marginal-cost pricing in the American automobile industry,’ Journal of Econometrics, 17, 201-227.
     3. Carlton, D.W. and Perloff, J.M. (1994) ‘Modern Industrial Organization,’ New York: HarperCollins College Publishers.
     4. Chamberlin, E.H. (1933) ‘The Theory of Monopolistic Competition,’ Cambridge, MA: Harvard University Press.
     5. Chamberlin, E.H. (1965) ‘The Theory of Monopolistic Competition,’ Cambridge, MA: Harvard University Press.
     6. Court, A.T. (1939) ‘Hedonic Price Indexes with Automotive Examples,’ The Dynamics of Automobile Demand, N.Y.: The G.M. Co, 99-117.
     7. Dickson, P.R. and Ginter, J.L. (1987) ‘Market Segmentation, Product Differentiation, and Market Strategy,’ The Journal of Marketing, April, 1-10.
     8. Dinopoulos, E. and Kreinin, M.E. (1988) ‘Effects on the U.S.-Japan Auto VER on European Prices and on U.S. Welfare,’ The Review of Economics and Statistics, 70:3, 484-491.
     9. Freenstra, R.C. (1984) ‘Voluntary Export Restraint in U.S. Autos, 1980-81: Quality, Employment, and Welfare Effects,’ in R.E. Baldwin and A.O. Krueger ed., The Structure and Evolution of Recent U.S. Trade Policy (Chicago: The University of Chicago Press).
     10. Feenstra, R.C. (1988,a) ‘Quality Change under Trade Restraints in Japanese Autos,’ Quarterly Journal of Economics, 131-146.
     11. Feenstra, R.C. (1988,b) ‘Gains from trade in differentiated products: Japanese compact trucks,’ in R. Feenstra, ed., Empirical methods for international trade 119-136. (Cambridge, MA: MIT Press)
     12. Fung, K.C. (1991) ‘Collusive Intra-industry Trade,’ Canadian Journal of Economics, 24, 391-404.
     13. Gavin, D.A. (1987) ‘Competing on the Eight Dimensions of Quality,’ Harvard Business Review, November-December, 101-109.
     14. Griliches, Z. (1971) ‘Hedonic Price Indexes for Automobiles: An Econometric Analysis of Quality Change,’ in Griliches, Z. ed., Price Indexes and Quality Change (Cambridge, MA: Harvard University Press)
     15. Hotelling, H (1929) ‘Stability in Competition,’ Economic Journal 39, 41-57.
     16. Keppler, M. and Lechner, M. (1997) ‘Emerging Markets,’ Homewood, IL: Richard D. Irwin, Inc.
     17. Khanna, T. and Palepu, K. (1997) ‘Why Focused Strategy May Be Wrong for Emerging Markets,’ Harvard Business Review, July-August, 41-51.
     18. Kotler, P. (1996) ‘Marketing Management,’ Englewood Cliffs, NJ: Prentice-Hall, Inc.
     19. Krishna, K. (1985) ‘Protection and the Product Line: Monopoly and Product Quality,’ NBER Working Paper No. 1537.
     20. Lamming, R. (1993) ‘Beyond Partnership,’ Englewood Cliffs, NJ: Prentice-Hall, Inc.
     21. Levinsohn, J. and Feenstra, R.C. (1990) ‘Identifying the Competition,’ Journal of International Economics, 28, 199-215.
     22. Lu, A.Y. and B.J. Liu (1990) ‘Quality Shift and Price Changes Under Tariff Reduction-The Case of Passenger Cars in Taiwan,’ Academia Economic Papers, 18, 159-177.
     23. Maxton, G.P. (2001) ‘Asian Car Forecast to 2005,’ Evesham: Just-sites.com Ltd.
     24. Mussa, M. and Rosen, S. (1978) ‘Monopoly and Product Quality,’ Journal of Economic Theory, 18, 301-317.
     25. Porter, M.E. (1976) ‘Interbrand Choice, Strategy and Bilateral Market Power,’ Cambridge, MA: Harvard University Press.
     26. Porter, M.E. (1980) ‘Competitive Strategy,’ New York: Collier Macmillan.
     27. Rosen, S. (1974) ‘Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition,’ Journal of Political Economy, 92, 34-55.
     28. Samuelson, P.A. (1976), ‘Economics,’ New York: McGraw-Hill Book Company.
     29. Shy, O. (1996), ‘Industrial Organization,’ Cambridge, MA: The MIT Press.
     30. Stockhausen, G.L. (1988) ‘Threats of Quotas in International Trade,’ New York: Greenwood Press.
     31. The Economist (2000) ‘Road Rage,’ The Economist, 354, 79.
     32. The Economist (2002) ‘Incredible Shrinking Plants,’ The Economist, 362, 71-74.
     33. Weng, Y.H. (1993) ‘Strategic Interactions, Trade Policy and Direct Foreign Investment,’ The Chinese Economic Association Annual Conference Proceedings, 167-181.
     34. Weng, Y.H. (1998) ‘The Effects of Local Content Requirements on Assistance and Technological Upgrading in the Intermediate-Goods Industry,’ Taiwan Economic Review, 26:2, 219-242.
     35. World Trade Organization (2001) ‘Trade Review 2001,’ Geneva: World Trade Organization.		zh_TW