Lecomte sur Rover, 500 cmc [course motocycliste Paris-Reims-Paris, side-car, 6 juillet 1919] : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 54746

Profitability, uncertainty and multi-product firm product proliferation: The Spanish car industry

This article studies how product introduction decisions relate to profitability and uncertainty in the context of multi-product firms and product differentiation. These two features, common to many modern industries, have not received much attention in the literature as compared to the classical problem of firm entry, even if the determinants of firm and product entry are quite different. The theoretical predictions about the sign of the impact of uncertainty on product entry are not conclusive. Therefore, an econometric model relating firms’ product introduction decisions with profitability and profit uncertainty is proposed. Firm’s estimated profits are obtained from a structural model of product demand and supply, and uncertainty is proxied by profits’ variance. The empirical analysis is carried out using data on the Spanish car industry for the period 1990-2000. The results show a positive relationship between product introduction and profitability, and a negative one with respect to profit variability. Interestingly, the degree of uncertainty appears to be a driving force of entry stronger than profitability, suggesting that the product proliferation process in the Spanish car market may have been mainly a consequence of lower uncertainty rather than the result of having a more profitable market

[Paul] Péan, sur Peugeot [course Paris-Reims-Paris, moto 6 HP avec side-car, 6 juillet 1919] : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 54734

Pasola sur A.J. S. [le side-car n° 31 au départ de la course Paris-Reims-Paris] : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 54756

Major Empson sur AV, pesage de Paris-Nice [cycle-car, 1100 cmc, course Paris-Nice] : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 57958

Baudelocque sur Morgan [cycle-car, 1100 cmc, course Paris-Nice] : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 57960

Where is my car?

L'objectiu del projecte és dissenyar i desenvolupar un petit APP o aplicatiu per tal de trobar la ubicació del vehicle aparcat.

[Archives de la Parole]. , Ne tomi rodimyi : Trio iz op. "Zizn' za carâ" / [M. I. Glinka], comp.. Solov'ëm zalëtnym / Vokalnyj kvintet, ens. voc.

Comprend : Ne tomi rodimyi / [M. I. Glinka], comp. ; Solov'ëm zalëtnym / Vokalnyj kvintet, ens. voc.

Completing contracts ex post: How car manufacturers manage car dealers

This article illustrates how contracts are completed ex post in practice and, in so doing, indirectly suggests what the real function of contracts may be. Our evidence comes from the contracts between automobile manufacturers and their dealers in 23 dealership networks in Spain. Franchising dominates automobile distribution because of the need to decentralize pricing and control of service decisions. It motivates local managers to undertake these activities at minimum cost for the manufacturer. However, it creates incentive conflicts, both between manufacturers and dealers and among dealers themselves, concerning the level of sales and service provided. It also holds potential for expropriation of specific investments. Contracts deal with these conflicts by restricting dealers decision rights and granting manufacturers extensive completion, monitoring and enforcement powers. The main mechanism that may prevent abuse of these powers is the manufacturers reputational capital.

Spinning welfare: The gains from process innovation in cotton and car production

Economists and economic historians want to know how much better life is today than in the past.Fifty years ago economic historians found surprisingly small gains from 19th century US railroads,while more recently economists have found relatively large gains from electricity, computers and cellphones. In each case the implicit or explicit assumption is that researchers were measuring the valueof a new good to society. In this paper we use the same techniques to find the value to society ofmaking existing goods cheaper. Henry Ford did not invent the car, and the inventors of mechanisedcotton spinning in the industrial revolution invented no new product. But both made existing productsdramatically cheaper, bringing them into the reach of many more consumers. That in turn haspotentially large welfare effects. We find that the consumer surplus of Henry Ford s production linewas around 2% by 1923, 15 years after Ford began to implement the moving assembly line, while themechanisation of cotton spinning was worth around 6% by 1820, 34 years after its initial invention.Both are large: of the same order of magnitude as consumer expenditure on these items, and as largeor larger than the value of the internet to consumers. On the social savings measure traditionally usedby economic historians, these process innovations were worth 15% and 18% respectively, makingthem more important than railroads. Our results remind us that process innovations can be at least asimportant for welfare and productivity as the invention of new products.

Consumer Advisory Bulletin, Tips for Buying a Used Car, June 2007

The Attorney General’s Consumer Protection Division receives hundreds of calls and consumer complaints every year. Follow these tips to avoid unexpected expense and disappointments. This record is about: Tips for Buying a Used Car

Consumer Advisory Bulletin, Avoid Car-Title Loans, December 2005

The Attorney General’s Consumer Protection Division receives hundreds of calls and consumer complaints every year. Follow these tips to avoid unexpected expense and disappointments. This record is about: Avoid Car-Title Loans

Institutional constraints on organizations: The case of Spanish car dealerships

We study the effect of organizational choice and institutions on the performance ofSpanish car dealerships. Using outlet-level data from 1994, we find that verticallyintegrateddealerships showed substantially lower labor productivity, higher labor costs andlower profitability than franchised ones. Despite these gaps in performance, no verticallyintegratedoutlet was separated until 1994, yet the few outlets that were eventuallyseparated systematically improved their performance. We argue that the conversion ofintegrated outlets into franchised ones involved significant transaction costs, due to aninstitutional environment favoring permanent, highly-unionized employment relations. Inline with this argument, we find that the observed separations occurred in distributionnetworks that underwent marked reductions in worker unionization rates, following thelegalization of temporary labor contracts.