主 题：Supply, Demand, and the Effects of Government Policy in the Chinese Automobile Market: A Random Coefficients Mixed Oligopolistic Differentiated Products Model
时 间：2018年3月14日 上午10:30-12:00
Yuan Chen is a Ph.D. candidate in Transportation Technology and Policy at the University of California at Davis. Yuan has received numerous prestigious awards for her research, including the Best Paper Award at the Transportation Research Forum 2017 Annual Conference; the National Center for Sustainable Transportation (NCST) Dissertation Grant; the 2017 Nissan Corporate Affiliate Fellowship; the UC-Davis Graduate Student Travel Award; an ITS-Davis Travel Grant; the UC-Davis Transportation Technology and Policy Fellowship; the 2015 Shell Corporate Affiliate Fellowship; the UC-Davis Fellowship for Excellence in Graduate Research; and a fellowship from the China Scholarship Council. She was one of the few doctoral students nationwide selected to attend the prestigious 2016 Berkeley Summer School in Environmental and Energy Economics. In addition to the Transportation Research Forum 2017 Annual Conference, she has also presented her research at the 2016 U.S. Association for Energy Economics (USAEE) North American Conference, the top national conference in energy economics and policy, for which she was awarded a U.S. Association for Energy Economics (USAEE) Student Registration Fee Scholarship and an ITS-Davis Travel Grant; at the 7th Annual Interdisciplinary Ph.D. Workshop in Sustainable Development (IPWSD) at Columbia University; at the 2017 Asian Meeting of the Econometric Society; at the 2017 China Meeting of the Econometric Society; and at the Agricultural and Applied Economics Association (AAEA) Annual Meeting, for which she was awarded an Agricultural and Applied Economics Association (AAEA) Travel Grant for Early Career Professionals and Graduate Students.
We develop a structural econometric model of a mixed oligopolistic differentiated products market that allows different consumers to vary in how much they like different car characteristics on the demand side, and that allows state-owned automobile companies to have different objectives than private automobile companies on the supply side. We estimate our model using a comprehensive data set on the sales, prices, and characteristics of the majority of vehicle makes and models in China, including alternative vehicles. Results show that forming international joint ventures with car companies in the US and Japan is associated with a lower marginal cost to Chinese car companies of technology-related vehicle characteristics. We use the model to simulate the effects of introducing a new alternative vehicle and of counterfactual government policies on alternative vehicle market share and welfare. We find that China’s Corporate Average Fuel Consumption (CAFC) standard is inefficient, and that the alternative vehicle market share, consumer surplus, private firm profits, and state-owned firm utility would all increase if China removed its CAFC standard and made its fuel economy standard more stringent instead.