Browsing by Author "Rodrigues, Vasco"
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- Anti-competitive impact of pseudo-genericsPublication . Rodrigues, Vasco; Gonçalves, Ricardo; Vasconcelos, HélderIn pharmaceuticals markets, sellers of branded drugs sometimes sell generic versions of their own branded products, either directly or through licenseagreements. Although claims that these pseudo-generics may have anti-competitive effects are not unusual, the theoretical literature on this issue is limited and not conclusive. This paper uses a model that combines horizontal and vertical product differentiation, to explain how those effects may occur. We show that the producer of the branded product will not sell the pseudo-generic unless faced with competition and that, if she does so, in some circumstances, all prices rise to the benefit of all sellers and the detriment of consumers.
- Anticompetitive impact of pseudo-genericsPublication . Rodrigues, Vasco; Gonçalves, Ricardo; Vasconcelos, HélderA puzzling feature of pharmaceuticals markets is that sellers of branded drugs will, sometimes, sell generic versions of their own branded products, either directly or through license agreements. This paper proposes a new theoretical rationale for the fact that the introduction of these pseudo- generics may have anti-competitive e¤ects. In a model that combines horizontal and vertical product di¤erentiation, we show that the producer of the branded product will not sell the pseudo-generic unless faced with competition and that, if she does so, in some circumstances, all prices raise to the bene t of all competitors and the detriment of consumers.
- Anticompetitive impact of pseudo-genericsPublication . Rodrigues, Vasco; Gonçalves, Ricardo; Vasconcelos, Helder
- Business model adaptation in response to an exogenous shock: an empirical analysis of the Portuguese footwear industryPublication . Corbo, Leonardo; Pirolo, Luca; Rodrigues, VascoBusiness models have received increasing attention in both academic and managerial communities. However, little attention has been paid to how business models change in response to extreme events. This topic is of critical importance since failure to achieve adaptation in a timely manner can lead to negative consequences such as a significant decrease in firm value or bankruptcy. This study explores how the business model paradigm of the Portuguese footwear industry changed following China’s entry into the World Trade Organization in 2001. The empirical results suggest that the shock acted as a trigger for change for the Portuguese footwear firms which reflected in the adoption of a new business model characterized by speed and flexibility in the manufacturing process, faster response to customer needs and, in specific cases, in downward integration through the creation of own brands selling directly to final consumers. This result, however, was not the outcome of a sudden change but rather the consequence of a planned adaptation strategy led by a key industry actor that acted as a network orchestrator coordinating the actions of the Portuguese footwear firms. The implications of these findings as well as directions for future research are discussed in the last part of this study.
- Economia informal no comércio e restauração: manifestações e soluçõesPublication . Oliveira, Francisca Guedes de; Silva, Sofia; Rodrigues, Vasco
- Economia Informal no Comércio, Alojamento e Restauração: Manifestações e SoluçõesPublication . Guedes de Oliveira, Francisca; Silva, Sofia; Rodrigues, VascoO presente estudo pretende contribuir para uma análise dos mecanismos que incentivam a existência de economia informal no sector do comércio e restauração, contribuindo para a redução do fenómeno. Na primeira secção apresenta-se uma revisão de literatura sobre o tema com vista a delimitar-se o âmbito do conceito utilizado na posterior análise empírica. Na segunda secção faz-se uma breve contextualização dos sectores partindose na terceira secção para um levantamento do fenómeno da informalidade. Pela natureza do fenómeno a sua valorização é de extrema dificuldade. Optamos por entrevistar alguns actores relevantes e fazer um levantamento das sensibilidades dos agentes no terreno. O cruzamento dos resultados destas conversas com alguns dados existentes permitiram traçar um cenário provável da importância da economia informal no sector. O último capítulo consiste numa tentativa de levantamento de algumas propostas concretas para a diminuição do fenómeno. Estas propostas partem dos resultados das entrevistas, tendo como suporte a literatura existente.
- Endogenous mergers and market structurePublication . Rodrigues, VascoIn this paper we use a two-stage game to model endogenous mergers. In the second stage of the game, firms compete on the product market. In the first stage, anticipating what will happen in the second stage, firms decide whether or not to merge. In the model, merger occurrence is determined by the interplay of the initial number of firms in the industry, the expected competitive intensity, and the possibility to economize on fixed costs through merger. It is shown that the equilibrium market structure concentration is decreasing in the first of these factors and increasing in the other two. Some implications for antitrust policy are discussed
- Fusões e aquisições: a evidência empíricaPublication . Rodrigues, Vasco
- Reference pricing in the presence of pseudo-genericsPublication . Gonçalves, Ricardo; Rodrigues, Vasco; Vasconcelos, HélderThis paper looks at producers of branded and generic pharmaceuticals’ pricing decisions under two possible reimbursement schemes—reference pricing and fixed percentage reimbursement—and under two settings—one where the branded producer only sells the (off-patent) branded pharmaceutical and another where, in addition, it may also sell its own generic version, a so called pseudo-generic. We find different pricing responses from firms under the two reimbursement schemes and across the two settings analysed (with or without a pseudo-generic), and show that pseudo-generics may have an anticompetitive effect. Our results have important policy implications such as showing that the presence of pseudogenerics reinforces reference pricing’s advantages over alternative reimbursement schemes
- Reference pricing in the presence of pseudo-genericsPublication . Gonçalves, Ricardo; Rodrigues, Vasco; Vasconcelos, HelderWe build on the analysis of Rodrigues et al. (2011) and look at the market impact of pseudo- generics under two possible reimbursement mechanisms: reference pricing and xed percentage reimbursement. Reference pricing emerges as a preferable reimbursement mechanism, both from a consumer s perspective as well as from a welfare perspective, particularly when a pseudo- generic is present. JEL Classi cation: I18, L13