Analyzing the Welfare Impacts of Full‐line Forcing Contracts
利用电影发行商与视频零售商之间全线强制合同的大量数据，实证测量垂直捆绑对福利的影响，发现捆绑增加了市场覆盖和效率，对消费者和生产者剩余有正向作用。
Theoretical investigations have examined both anti‐competitive and efficiency‐inducing rationales for vertical bundling, making empirical evidence important to understanding its welfare implications. We use an extensive dataset on full‐line forcing contracts between movie distributors and video retailers to empirically measure the impact of vertical bundling on welfare. We identify and measure three primary effects of full‐line forcing contracts: market coverage, leverage and efficiency. We find that bundling increases market coverage and efficiency, but has little impact on one distributor's gaining leverage over another. As a result, we estimate that full‐line forcing contracts increased consumer and producer surplus in this application.