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10464 results in Economic thought, philosophy and methodology

Page 56 of 524

  • The normative gap: mechanism design and ideal theories of justice

  • Zoë Hitzig
  • Journal:
    Economics & Philosophy / Volume 36 / Issue 3 / November 2020
    Published online by Cambridge University Press:
    22 October 2019, pp. 407-434

  • This paper investigates the relationship between economic theory and theories of justice in the design of public policy. In particular, it focuses on the role of mechanism design in policy contexts beset with issues of social, racial and distributive justice. Economists’ involvement in redesigning Boston’s algorithm for allocating K-12 students to public schools serves as an instructive case study. The paper draws on the distinction between ideal theory and non-ideal theory in political philosophy and the concept of performativity in economic sociology to argue that mechanism design can enact elaborate ideal theories of justice. A normative gap thus emerges between the goals of the policymakers and the objectives of economic designs. As a result, mechanism design may obstruct stakeholders’ avenues for normative criticism of public policies, and serve as a technology of depoliticization.

  • Punishment and disagreement in the state of nature

  • Jacob Barrett
  • Journal:
    Economics & Philosophy / Volume 36 / Issue 3 / November 2020
    Published online by Cambridge University Press:
    17 October 2019, pp. 334-354

  • Hobbes believed that the state of nature would be a war of all against all. Locke denied this, but acknowledged that in the absence of government, peace is insecure. In this paper, I analyse both accounts of the state of nature through the lens of classical and experimental game theory, drawing especially on evidence concerning the effects of punishment in public goods games. My analysis suggests that we need government not to keep wicked or relentlessly self-interested individuals in line, but rather to maintain peace among those who disagree about morality.

  • EAP volume 35 issue 3 Cover and Front matter

  • Journal:
    Economics & Philosophy / Volume 35 / Issue 3 / November 2019
    Published online by Cambridge University Press:
    16 October 2019, pp. f1-f3
    • Article
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  • EAP volume 35 issue 3 Cover and Back matter

  • Journal:
    Economics & Philosophy / Volume 35 / Issue 3 / November 2019
    Published online by Cambridge University Press:
    16 October 2019, pp. b1-b2
    • Article
      • You have access
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  • The Asymmetry of population ethics: experimental social choice and dual-process moral reasoning

  • Dean Spears
  • Journal:
    Economics & Philosophy / Volume 36 / Issue 3 / November 2020
    Published online by Cambridge University Press:
    15 October 2019, pp. 435-454

  • Population ethics is widely considered to be exceptionally important and exceptionally difficult. One key source of difficulty is the conflict between certain moral intuitions and analytical results identifying requirements for rational (in the sense of complete and transitive) social choice over possible populations. One prominent such intuition is the Asymmetry, which jointly proposes that the fact that a possible child’s quality of life would be bad is a normative reason not to create the child, but the fact that a child’s quality of life would be good is not a reason to create the child. This paper reports a set of questionnaire experiments about the Asymmetry in the spirit of economists’ empirical social choice. Few survey respondents show support for the Asymmetry; instead respondents report that expectations of a good quality of life are relevant. Each experiment shows evidence (among at least some participants) of dual-process moral reasoning, in which cognitive reflection is statistically associated with reporting expected good quality of life to be normatively relevant. The paper discusses possible implications of these results for the economics of population-sensitive social welfare and for the conflict between moral mathematics and population intuition.

  • 9 - Competition and E-commerce in the Philippines

  • from PART IV
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 232-270

  • Summary

    Introduction

    While the Philippines is home to a large and growing number of internet and mobile phone users, e-commerce in the country is still at a nascent stage. Data from the Better Than Cash Alliance (BTCA) showed that e-commerce makes up less than 1 per cent of total commerce in the Philippines in 2015, compared to 4–5 per cent in other neighbouring countries in Southeast Asia. In terms of the necessary infrastructure to facilitate online transactions, the country ranked 89th out of 137 countries, according to a report by the United Nations Conference on Trade and Development (UNCTAD).

    Meanwhile, e-commerce continues to affect an increasing number of traditional businesses and industries. In addition, the last few years saw the emergence of new businesses models such as online platforms like Lazada, Zalora and Shopee, and commercial sharing economy services like GrabTaxi and AirBnB. Considering the increasing role that e-commerce will play in firms, this chapter focuses on how e-commerce affects firm productivity. Further, it seeks to contribute to the debate about e-commerce and its effects on competition. Put together, this poses an interesting question from the competition perspective: how does the interplay of e-commerce use and competition shape firm productivity?

    E-commerce directly affects firms’ performance by cutting time and costs of production. The resulting savings, in turn, could then be re-allocated to more productive activities. Several studies have shown that selling online results in low distribution costs (Lal and Sarvary 1999; Van Cayseele and Degryse 2000; Wadhwani 2000; DePrince and Ford 1999), as the internet has made it possible for goods and services to move from producers to end-consumers without going through the entire traditional supply chain. Cost efficiency may also be achieved through e-commerce by rationalizing firms’ processes in purchasing inputs (Degraeve and Roodhooft 2001; Konings and Roodhoft 2002; Sinha 2000). Purchasing online also lowers administrative and inventory holding costs, reduces maverick buying and saves time (Benjamin and Wigand 1995; Whyte 2000; Aberdeen Group 2001). Examining the impact of the internet on transaction cost, Garicano and Kaplan (2001) find that the internet has resulted in a large drop in coordination costs due to process improvements and marketplace benefits that make it easier and less costly to search for products, compare prices or find buyers.

  • 4 - E-commerce and Trade Policy

  • from PART III
    • By Cassey Lee, Senior Fellow, ISEAS – Yusof Ishak Institute, Singapore
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 53-60

  • Summary

    Introduction

    Electronic commerce, or e-commerce, has become increasingly important globally. Based on UNCTAD's (2017) estimates, the value of global e-commerce was estimated to have reached US$25 trillion in 2015. Of this, US$7 billion are cross-border Business to Consumer (B2C) e-commerce. Using trade data from the World Bank, cross-border B2C accounts for only 0.04 per cent of total global exports. If we assume that the volume of Business to Business (B2B) e-commerce is nine times larger than that of B2C, e-commerce's share of global trade was 0.4 per cent in 2015. Though cross-border e-commerce is still a small portion of global trade, its share is likely to increase significantly in the future. Aliresearch (2016) estimates that global cross-border e-commerce will increase at an annual rate of 27.3 per cent during 2014–20.

    The rising importance of e-commerce in global trade is also reflected not only in the inclusion of e-commerce related provisions in trade agreements but the increasingly more detailed coverage of such provisions. Of the 275 regional trade agreements (RTAs) in force and notified to the World Trade Organization (WTO) as of May 2017, 75 RTAs (27.3 per cent) explicitly addressed e-commerce (Monteiro and Teh 2017). More than 60 per cent of the RTAs that have entered into force between 2014 and 2016 contained e-commerce provisions (ibid.). The evolution of e-commerce provisions is also related to the evolution in e-commerce itself. Technological changes have been major drivers of this. Finally, e-commerce provisions in trade agreements also have important implications for domestic policies such as competition policy.

    This chapter aims to examine the nature and evolution of e-commerce related provisions in trade agreements. The outline of the chapter is as follows. Section 2 discusses how e-commerce is contextualized within trade policy. Section 3 examines how e-commerce chapters in trade agreement have evolved and the factors driving these changes. Section 4 discusses some of the implications of these provisions for competition. Finally, Section 5 concludes.

    Contextualizing E-commerce in Trade Policy

    The starting point for placing e-commerce within the context of trade policy is the definition of e-commerce. What is e-commerce and how is it related to cross-border trade in goods and services?

  • 8 - E-commerce in Singapore: Current State, Policies and Regulations

  • from PART IV
    • By Kala Anandarajah, Head, Competition & Antitrust and Trade Lead Partner, Corporate Governance, Tanya Tang, Partner (Chief Economic and Policy Advisor), Rajah & Tann Singapore LLP, Zheng Xi, Associate, Rajah & Tann Asia Singapore LLP
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 193-231

  • Summary

    Introduction

    Singapore has a highly developed and open economy. The country, which has the highest gross domestic product (GDP) per capita in Southeast Asia, is also well-known for its corruption-free environment. The main drivers of the growth of the Singaporean economy include the manufacturing, finance and insurance sectors (Ministry of Trade and Industry 2017). The Singapore population is highly educated and tech-savvy, with a literacy rate of 97.0 per cent amongst residents aged 15 years and above (Department of Statistics Singapore n.d.), and 84 per cent of the population are internet users in 2016 (IMDA 2018). The Singapore government has encouraged Singaporean businesses to venture into overseas markets by taking advantage of new opportunities in the digital economy and build strong capabilities in innovation and enterprise (Budget 2017). These conditions make Singapore a conducive environment for the growth and development of e-commerce.

    This chapter provides an analysis of the current state of e-commerce in Singapore from a number of perspectives. The outline of this chapter is as follows. After defining e-commerce in Section 2, the state of e-commerce infrastructure is discussed in Section 3. The size of Singapore's e-commerce is examined in Section 4. The evolution of e-commerce in terms of the major players in the industry is discussed in Section 5. Government policies, as well as the laws and regulations governing e-commerce in the country, are covered in Sections 6 and 7, respectively. Competition law and policy-related issues are discussed in Section 8. Factors that can impede and restrict the opportunities for e-commerce growth in Singapore are discussed in Section 9. Finally, Section 10 concludes by presenting policy recommendations for the further development of e-commerce in Singapore.

    Defining E-commerce

    E-commerce refers to the sale and purchase of goods and services over the internet and includes ancillary activities which support such transactions. E-commerce transactions can take place between businesses and consumers (B2C), between businesses (B2B) or between the government and businesses (G2B); between consumers (C2C) whereby consumers buy and sell directly to each other through platforms such as eBay; as well as between the government and citizens via the offering of e-Government services.

  • 6 - E-commerce Development in Indonesia: Challenges and Prospects

  • from PART IV
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 119-168

  • Summary

    Introduction

    In recent years, there have been both high expectations and stimulating development in e-commerce sector in Southeast Asia in general and in Indonesia in particular. High expectations come from both private and public sectors. For instance, Google-Temasek (2016) predicted that Southeast Asia will be the fastest growing internet market in the world (reaching around 480 million internet users by 2020). Moreover, they projected that Indonesia will become the fastest growing internet market in the world, with 19 per cent compound annual growth rate (CAGR) for the period of 2015–20. By 2025, Indonesia is expected to account for 52 per cent of e-commerce market in the Southeast Asian region. In addition to Google-Temasek's upbeat projection, McKinsey (2016) estimated that the value of the Indonesian e-commerce market will reach US$150 billion by 2025.

    In November 2016, the Indonesian government released the 14th economic policy package, which aims to promote the country's e-commerce business environment. In this economic policy package, the government sets an ambitious target to create “1,000 technology entrepreneurs” with business valuation up to US$10 billion by 2020. Almost a year later, in August 2017, President Joko “Jokowi” Widodo signed a Presidential Regulation No. 74/2017 on the Roadmap for the National Electronic Commerce System 2017–2019 (Sekretariat Kabinet Republik Indonesia 2017). This regulation provides the required legal framework for e-commerce business operation in Indonesia.

    Despite various upbeat projections on e-commerce prospect in Indonesia, there are many challenges facing the sector development in the country. Firstly, there is a limited pool of skilled workers trained in information and communication technologies (ICT) and in related fields, such as software engineers, coders, platform developers, and so on. Secondly, the internet penetration rate in the country is still low (at around 34 per cent), with internet speed still on the lowest end in the region (average 6.7 Mbps in 2016). Thirdly, the payment mechanism is still limited, also with more than 60 per cent of the population having no access to banking institutions. Fourthly, Indonesia's archipelagic-topographical structure creates additional challenge in terms of high logistical cost. This challenge is worsened by poor infrastructure and limited delivery options.

E-Commerce, Competition and ASEAN Economic Integration
  • Edited by Cassey Lee, Eileen Lee
  • Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019
  • The e-commerce market has grown rapidly within the ASEAN region in recent years. This trend is expected to continue in the future given the region's large population base, rising middle-class and improvements in connectivity. This edited volume examines the current state of e-commerce in ASEAN countries. It highlights some of the key domestic and cross-border challenges faced by ASEAN member states in developing e-commerce. These challenges include the regulatory and legal environment in which e-commerce firms operate across ASEAN, and the supporting infrastructure in ASEAN member states. "A comprehensive snapshot of the latest emerging regulatory, policy and consumer issues. It's essential reading for anyone working in this field. E-commerce is fundamentally altering the way in which businesses are being conducted, both within and between ASEAN countries. More than just an alternate distribution channel, online trading offers new opportunities and challenges for consumers, businesses, regulators and policymakers. How do markets operate in the new paradigm? How should regulators and governments ensure that dynamic competitive economies evolve, instead of descending into anti-competitive structures? And how are markets evolving in different parts of Southeast Asia? All of these issues — and much more — are discussed in here. The editors are to be congratulated for assembling a range of insightful perspectives from across ASEAN. These are issues that will affect the region for many years to come. The lessons here are timely and timeless." —Michael Schaper Ph.D., Deputy Chairman, Australian Competition and Consumer Commission, 2008—18

  • 7 - Development of E-commerce in Malaysia

  • from PART IV
    • By Tham Siew Yean, Senior Fellow, ISEAS – Yusof Ishak Institute, Singapore
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 169-192

  • Summary

    Introduction

    According to OECD (undated), an e-commerce transaction is the sale or purchase of goods or services, conducted over computer networks by methods specifically designed for the purpose of receiving or placing of orders. The goods or services are ordered by those methods, but the payment and the ultimate delivery of the goods or services do not have to be conducted online. An e-commerce transaction can be between enterprises, households, individuals, governments, and other public or private organizations. This encompasses a broad range of commercial activities, including among others, business to business (B2B or e-commerce between companies), business to consumer (B2C, or between companies and consumers), consumer to consumer (C2C), or e-commerce between consumers. Transactions to be included are orders made over the web, extranet or electronic data interchange. The type of transaction is defined by the method of placing the order. Transactions to be excluded are orders made by telephone calls, facsimile or manually typed email.

    The development of e-commerce has attracted the attention of developing countries due to its potential to contribute towards sustainable development. Transaction costs can be reduced with e-commerce as it can be used to lower barriers to entry by eliminating certain costs related to having a physical storefront (WTO/OECD 2017). This provides more opportunities especially for small and medium enterprises (SMEs) to enhance their market access in domestic and foreign markets, thereby increasing the scalability prospects of these enterprises. When more inputs can be delivered digitally, it will also facilitate the management of fragmented production networks and the operation of global value chains (GVCs). Since it enhances productivity, more firms can also shift to exports. It also provides enhanced opportunities for women entrepreneurs and rural traders thereby empowering the disadvantaged. Consumers can also benefit through lower prices, greater convenience, and more varieties to choose from.

    Rillo and dela Cruz (2016) reported the findings from Qiang, Rossotto, and Kimura (2009), which showed that increased broadband access has accelerated economic growth due to the close link between information and communications technology (ICT) diffusion and firm level productivity. They further cited a McKinsey Global Institute study (2011) that found internet access has helped SMEs in eight developing countries to create 3.2 jobs for every job lost.

  • 3 - E-commerce and Competition Law: How Does Competition Assessment Change with E-commerce?

  • from PART II
    • By Eileen Lee, Competition and Consumer Commission of Singapore (CCCS), 2016–18, Lip Hang Poh, Competition and Consumer Commission of Singapore (CCCS), 2016–17
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 33-50

  • Summary

    Introduction

    E-commerce has garnered considerable attention from competition authorities, given that there are a growing number of competition cases related to digital commerce in recent years. For instance, the US Department of Justice prosecuted David Topkins, an art seller on Amazon Marketplace, for price fixing. Topkins conspired with other sellers to fix the prices of posters using customized algorithms between September 2013 and January 2014 (United States Department of Justice 2015). Most Favoured Nation (MFN) clauses have also been the subject of investigations by the European Union DG Competition (EU DG COMP) and national competition authorities in EU member states.

    Given that competition authorities are in the business of regulating business behaviour, how does e-commerce activities impact competition assessment? In this chapter, we consider the impact of e-commerce on two fundamental steps of competition assessment:

  • a. Market definition; and

  • b. Market power.

    • Market definition is typically the first step of competition assessment as it provides a framework for analysis through identifying the competitive constraints acting on a seller of a product or service. It can be thought of as a “quick and dirty” tool to determine if a seller is likely to have market power.

    Competition law essentially “regulate” business behaviour that hampers market competition. It is primarily concerned about whether the exercise of market power by business entities leads to any adverse impact on competition. In an abuse of dominance case, it is clear that the abuse of market power by a dominant undertaking perpetuates its market position in ways unrelated to competitive merits. Competitors acting in concert e.g. in price-fixing or production control cartels create and abuse market power. Merger control, on the other hand, is concerned from the ex-ante perspective, i.e., whether the merged entity has the market power to increase prices unilaterally, leading to non-coordinated effects in a horizontal merger situation, or foreclosure of competitors in the supply chain in a vertical merger situation.

    Drawing from the findings on consumer and business behaviour from the EU DG COMP's preliminary e-commerce sector study report and the Competition Commission of Singapore's (CCS) commissioned report on E-commerce and its Impact on Competition Policy and Law in Singapore, we study how these findings impact these two fundamental steps of competition assessment.

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