Bureau of Economics Reports: Major, published reports, usually containing original research and entailing a substantial commitment of resources, concerning an issue of current policy interest or of long term impact on Federal Trade Commission antitrust or consumer protection missions.
The more recent Economic Reports are offered in Adobe Acrobat PDF format.
If you have trouble accessing one of these reports, please email ReportRequests@ftc.gov.
Consumer Fraud in the United States, 2011. The Third FTC Survey Keith B. Anderson (April 2013)
This study reports the results of the Federal Trade Commission’s third statistical survey of fraud in the United States. The survey found that 10.8 percent of adults in the United States – an estimated 25.6 million people -- were victims of one or more of the frauds included in the survey during 2011. More people – an estimated 5.1 million U.S. consumers – were victims of fraudulent weight-loss products than of any of the other frauds covered by the survey. Fraudulent prize promotions were the second most frequently reported of the frauds covered by the survey, with an estimated 2.4 million victims during 2011. Unauthorized billing for buyers’ club memberships and unauthorized billing for Internet services tied for third place, while fraudulent work-at-home programs ranked fifth among the frauds covered by the survey.
The survey also found that consumers who were more willing to take risks and those who had experienced a serious negative life event in the past two years – events such as a divorce, the death of a family member or close friend, a serious injury or illness in the family, of the loss of a job – were more likely to have become victims. Those who were more patient were less likely to have been victims. African Americans and Hispanics were more likely to have been victims than were non-Hispanic whites, while older consumers were less likely to have been victims of the frauds included in the survey.
Report to Congress Under Section 319 of the Fair and Accurate Credit Transactions Act of 2003 (December 2012)
This study examines accuracy in consumer credit reports using a nationally representative sample of consumers with credit histories. Participants in the study examined their credit reports from the three national credit reporting agencies and identified potentially material errors. Participants disputed any identified errors using the FCRA dispute process and were provided with new credit reports and credit scores. The original reports were then compared with the new reports and if any modifications were made as a result of the disputes, the impact of errors on the consumer’s credit score was determined. Overall, 20% of consumers disputed errors and had modifications made to at least one credit report. In many cases, the change to the credit report had no effect on credit score; 13% of consumers experienced a change in score due to their dispute. When focusing on changes in score that could impact a consumer’s credit risk classification, the study found that 5% of consumers had errors on their credit report that may be affecting the likelihood of receiving credit or the terms of credit received.
Consumer Fraud in the United States: The Second FTC Survey, Keith B. Anderson (October 2007)
This study reports the results of the Federal Trade Commission’s second statistical survey of fraud in the United States. The survey found that 30.2 million adults – 13.5 percent of the adult population – were victims of one or more of the frauds included in the survey during the year studied. More people – an estimated 4.8 million U.S. consumers – were victims of fraudulent weight-loss products than any of the other frauds covered by the survey. Fraudulent foreign lottery offers and buyers club memberships tied for second place in the survey, with an estimated 3.2 million people were victims of each of these frauds during the period studied. Fraudulent prize promotions and work-at-home programs ranked fourth and fifth.
Credit-Based Insurance Scores: Impacts on Consumers of Automobile Insurance: A Report to Congress By the Federal Trade Commission (July 2007)
This study examines the effect of credit-based insurance scores on the price and availability of automobile insurance and the impact of such scores on racial and ethnic minority groups and on low-income groups. Using a large database of insurance policies, the study shows that scores are effective predictors of risk under automobile policies. At the same time, scores are observed to be distributed differently among racial and ethnic groups, and this difference is likely to have an effect on the insurance premiums that these groups pay, on average. Nonetheless, scores appear to derive a relatively small amount of their predictive power from their correlation with race and ethnicity. Finally, the Commission could not develop an alternative scoring model that would continue to predict risk effectively, yet decrease the differences in scores among racial and ethnic groups.
Text of the Commission Report
Statement of Chairman Majoras, Commissioner Kovacic, and Commissioner Rosch
Dissenting Statement of Commissioner Harbour
Concurring Statement of Commissioner Leibowitz
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Improving Consumer Mortgage Disclosures: An Empirical Assessment of Current and Prototype Disclosure Forms, James M. Lacko and Janis K. Pappalardo (June 2007)
This study presents the results of 36 in-depth interviews with recent mortgage customers, and quantitative consumer testing with over 800 mortgage customers, that examined how consumers search for mortgages, how well consumers understand current mortgage cost disclosures and the terms of their own recently obtained loans, and whether better disclosures could improve consumer understanding of mortgage costs, consumer shopping for mortgage loans, and consumers’ ability to avoid deceptive lending practices. The results of the study show that current mortgage cost disclosures fail to convey key mortgage costs to many consumers, and that prototype disclosures developed for the study significantly improved consumer recognition of mortgage costs, demonstrating that better disclosures are feasible.
Children's Exposure to Television Advertising in 1977 and 2004: Information for the Obesity Debate, Debra J. Holt, Pauline M. Ippolito, Debra M. Desrochers, and Christopher R. Kelley (June 2007)
This study provides a comprehensive assessment of the amount and type of television advertising seen by children in 2004 and compares these results to similar studies conducted for the Federal Trade Commission's 1978 Children's Advertising Rulemaking. This study finds that children in 2004 are exposed to more television ads, fewer paid ads, and fewer food ads compared to 30 years ago. Over half of children's exposure to food advertising comes from children's shows in 2004 compared to about 25 percent in 1977. Sixty-one percent of children's ad exposure and 72 percent of their food ad exposure is from cable programming, but nearly 30 percent comes from primetime broadcast programming. This report also provides a baseline against which to measure future changes in children's exposure to television advertising as parents, firms and children react to obesity concerns.
An Analysis of Exposure to Non-Network Television Advertising, Prepared for the Children's Advertising Proceeding by J. Howard Beales, III, Economist, Federal Trade Commission (November 21, 1978)
Network and Non-Network Sources of Programming and Advertising for Children, Prepared for the Children's Advertising Rulemaking Proceeding by John D. Abel, Associate Professor, Department of Telecommunication, Michigan State University (November 24, 1978), As Supplemented By Letter Dated April 16, 1979
Consumer Fraud in the United States: An FTC Survey, Keith B. Anderson, (August 2004)
This survey will help the FTC better serve fraud victims through law enforcement and education. The survey was designed, in part, to assist that agency in determining whether information in the FTC’s Consumer Sentinel database of fraud complaints is representative of consumers’ actual experiences with fraud in the marketplace. The survey provides the agency with a broader snapshot of fraud in America which, in addition to helping target law enforcement actions, will allow the FTC to target education campaigns more precisely towards particular consumer groups who are at risk of falling victim to fraud but who may not complain to the FTC about their experiences.
The Petroleum Industry: Mergers, Structural Change, And Antitrust Enforcement: A Report of the Staff of the Federal Trade Commission Bureau of Economics (August 2004)
This report updates two earlier FTC studies on mergers and structural change in the U.S. petroleum industry. Reviewing industry developments since the 1980s, this report finds, among other things, that concentration in crude oil at the country or company level has remained relatively low and that mergers among private oil companies have not significantly affected crude oil concentration.. There have been some increases in industry concentration at other vertical levels in the domestic industry such as refining and gasoline marketing, but industry concentration for most levels of the industry has remained low to moderate. Economies of scale have become increasingly important in shaping the industry, although the incentives for firms to be vertically integrated throughout all or most levels of production and distribution have diminished. The report also describes in detail the FTC’s antitrust merger enforcement policy in the petroleum industry since the1980s.
Text of the Bureau of Economics Report
Statement of the Commission
Appendix: Commission Testimony Concerning Market Forces, Anticompetitive
Activity, and Gasoline Prices (July 15, 2004)
Statement of Commissioner Thompson
Statement of Commissioner Harbour
Mergers In the U.S. Petroleum Industry 1971-1984: An Updated Comparative Analysis (May 1989)
Mergers In the Petroleum Industry (September 1982)
To receive a paper copy of this report, please email ReportRequests@ftc.gov.
The Effect of Mortgage Broker Compensation Disclosures on Consumers and Competition: A Controlled Experiment, James M. Lacko and Janis K. Pappalardo (February 2004).
This report presents the results of a study that uses a controlled experiment with over 500 recent mortgage customers to examine the mortgage broker compensation disclosure proposed by the Department of Housing and Urban Development (HUD) as part of its July 2002 RESPA reform proposal. The focus of the disclosure is on any “yield spread premium” paid by the lender to the broker for loans originated with “above par” interest rates. The study finds that the disclosure is likely to confuse consumers, cause a significant proportion to choose loans that are more expensive than the available alternatives, and create a substantial consumer bias against broker loans, even when the broker loans cost the same or less than direct lender loans. The report concludes that a better way to help consumers obtain less expensive mortgages would be to encourage and facilitate consumer comparison shopping on loan costs.
Advertising Nutrition & Health, Evidence from Food Advertising 1977-1997, Pauline M. Ippolito and Janis K. Pappalardo (September 2002)
This report reviews data collected by Commission staff on the types of claims made in 11,647 advertisements taken from a sample of eight leading magazines between 1977 and 1997. The primary focus of the study is on advertising claims related to health and nutrition, but it also examines other types of advertising claims. The report further reviews how nutrition-related claims in advertising changed under the various regulatory policies in place during these years. It is revealed that nutrition-related claims were a major focus of food advertising and an important focus of competition during the two-decade period covered by the report. Moreover, data indicate a sustained movement toward specific nutrient claims, such as "low fat," in place of, or in addition, to more general nutrition claims, such as "nutritious." The study finds that changes in advertising content appear to be associated with changes in regulatory rules and enforcement policies.
Competition and Consumer Protection Perspectives on Electric Power Regulatory Reform, joint report of the Bureau of Economics with the Bureau of Consumer Protection, Bureau of Competition, and Policy Planning, (July 2000).
This policy analysis examines various competition and consumer protection issues that arise in restructuring the electric power industry. The topics were addressed by FTC staff in comments to state regulatory commissions and to FERC, and include existing market power in generation services; vertical discrimination in transmission access; affiliate transactions; horizontal mergers; vertical and convergence mergers; retail competition entry conditions; and advertising claims, information disclosures, and deceptive business practices. The report also incorporates information on these topics gathered at the FTC's public workshop on market power and consumer protection issues in this industry.
Survey of Rent-to-Own Customers, James M. Lacko, Signe-Mary McKernan, and Manoj Hastak (April 2000)
This report presents the results of a nationwide survey of rent-to-own customers. The survey found that most rent-to-own merchandise is ultimately purchased by the customer, most customers are satisfied with their rent-to-own transactions, and most customers are treated well if they are late making a payment, although some customers are subject to possibly abusive collection practices. The report recommends that the total cost of purchasing merchandise through a rent-to-own transaction be disclosed on product labels that the consumer can see while shopping, in addition to disclosures in rental agreements and advertisements.
Transformation and Continuity: The U.S. Carbonated Soft Drink Bottling Industry and Antitrust Policy Since 1980, Harold Saltzman, Roy Levy, and John C. Hilke (November 1999)
This report analyzes the U.S. carbonated soft drink ("CSD") industry, with its primary focus on the 1980s and early 1990s, a period of rapid structural change that transformed the industry. In addition to documenting these changes, an empirical model is developed to evaluate the antitrust merger policies that were pursued by the Federal Trade Commission ("FTC") during this period -- the FTC challenged large horizontal acquisitions of Dr Pepper and 7UP franchises by Coca-Cola and Pepsi-Cola bottlers, but did not challenge vertical acquisitions of CSD bottlers by their franchisors or other horizontal bottler acquisitions. The findings tend to support or are consistent with these policies, but also identify areas that seem to warrant further study.
The Pharmaceutical Industry: A Discussion of Competitive and Antitrust Issues in an Environment of Change, Roy Levy (March 1999)
The report reviews significant informational, institutional, and structural changes that have influenced price and non-price competition strategies of brand-name pharmaceutical companies, particularly during the last 15 years. The study considers the possible antitrust implications of these changes by examining alternative anticompetitive and procompetitive explanations for the pricing, vertical contracting, and vertical and horizontal consolidation strategies that have emerged in this environment of change in the pharmaceutical industry.
A Generic Copy Test of Food Health Claims in Advertising, Dennis Murphy (principal author), Theodore H. Hoppock and Michelle K. Rusk (contributing authors) (November 1998) [a joint report of the Bureau of Economics and the Bureau of Consumer Protection].
Competition and the Financial Impact of the Proposed Tobacco Industry Settlement, joint report of the Bureau of Economics with the Bureau of Competition and the Bureau of Consumer Protection (September 1997)
The report analyzes the potential impact of the proposed tobacco industry settlement on cigarette prices, industry profits, and government revenues. The main conclusions of the report are that (1) the antitrust exemption may reduce competition in the industry and allow the industry to profit from the settlement by raising prices more than enough to cover the annual payments requires; (2) since the annual payments are essentially equivalent to an excise tax, even if the settlement does not have anti-competitive effects, we can expect that cigarette prices will rise by enough to generate revenues to make the annual payments; and (3) the government revenues will increase due to the settlement.
Information and Advertising Policy: A Study of Fat and Cholesterol Consumption in the United States, 1977-1990, Pauline M. Ippolito and Alan D. Mathios (September 1996)
The study examines changes in the consumption of fat, saturated fat, and cholesterol from 1977 to 1990, a period when federal policy governing diet-disease claims changed. The study finds that dietary improvements occurred more rapidly in the post-1985 years, when the rules were relaxed. The study also includes a variety of detailed data on differences in consumer knowledge and sources of dietary fats over the period.
The Effectiveness of Collusion Under Antitrust Immunity: The Case of Liner Shipping Conferences, Paul S. Clyde and James D. Reitzes (January 1996) [PDF 162KB]
This study analyzes whether ocean shipping rates are affected by the presence and practices of ocean liner conferences. The study provides some support for the conclusion that some aspects of the conference system may contribute to higher shipping rates, particularly when the conference has a sizable market share.
Disentangling Regulatory Policy: The Effects of State Regulations on Trucking Rates, Timothy P. Daniel and Andrew N. Kleit (November 1995) [PDF 165KB]
This study estimates the relationship between intrastate trucking rates and three different types of state-level regulations: 1) the strictness with which rates are regulated; 2) the requirements placed on motor carriers seeking to enter the market; and 3) whether the state provides antitrust immunity for decisions made by motor carrier rate bureaus.
This study describes the pricing and distribution of salt during the National Industrial Recovery Act period and beyond (1930-1945). Two FTC cases brought to enforce the Robinson-Patman anti- discrimination law during this period are examined in some detail. Also included is a statistical description of industries in which the FTC brought Robinson-Patman Act cases between 1936 and 1980.
Measurements of Market Power in Long Distance Telecommunications, Michael R. Ward (April 1995) [PDF 504KB]
This study assesses empirically the competitiveness of the long distance telephone market. To do so, it estimates firm-specific long- run demand elasticities for AT&T and its rivals for long distance service marketed to households and small businesses during 1988-91.
Older Economic Reports
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1. Resale Price Maintenance: An Economic Study of the FTC's Case Against Corning Glass Works, Pauline M. Ippolito and Thomas R. Overstreet, Jr., January 1994.
The study is intended to help increase understanding of the economic motivation for RPM when the products at issue are relatively simple goods that do not fit the most well-known efficiency rationales for the practice. The study found no evidence of collusion among Corning's dealers or competitors, and stock market movements (as well as the value of sales) for Corning and some of its competitors do not support anticompetitive theories. The authors find the results "consistent with the theory that RPM may at times be used as a method of increasing distribution of 'simple' products sold through multiproduct dealers."
2. Effects of Unfair Imports on Domestic Industries: U.S. Antidumping and Countervailing Duty Cases, 1980-1988, Morris E. Morkre and Kenneth H. Kelly, February 1994.
The study analyzes the effects of dumped and/or subsidized imports on the domestic industries with which they competed. The authors found that, in nearly 90 percent of the 179 cases analyzed, unfair imports caused reductions in domestic industry revenue of less than 10 percent.
No reports available from 1993.
1. Case Studies of the Price Effects of Horizontal Mergers, Laurence Schumann, Robert P. Rogers, and James D. Reitzes, April 1992.
The study examines the aftermath of mergers in three industries: titanium dioxide, cement, and corrugated paperboard. The study finds a mixture of results with likely pro-competitive outcomes in cement and paperboard, and a potentially large anti-competitive outcome in titanium dioxide (depending on the model specification).
2. An Analysis of Department Store Reference Pricing in Metropolitan Washington, Ronald S. Bond and R. Dennis Murphy, September 1992.
This report presents empirical evidence on the likely consumer injury associated with department store reference pricing, the common pricing strategy in which sale prices are contrasted prominently with regular prices in newspaper advertising. The study concludes that although regular prices claimed by department stores are higher than consumers would likely find elsewhere, the so-called sale prices are generally quite competitive.
1. Petroleum Tariffs as a Source of Government Revenue, Keith B. Anderson and Michael R. Metzger, February 1991.
The study evaluates the desirability of import tariffs on crude oil and refined petroleum products. Such tariffs would cost consumers between $2 and $5 per dollar of revenue raised. Excise taxes, on the other hand, would cost consumers $1.05 to $1.13 per dollar of revenue raised.
No reports available from 1990.
1. Local Building Codes and the Use of Cost-Saving Methods, Richard Duke, January 1989.
2. A General Equilibrium Analysis of the Welfare and Employment Effects of US Quotas in Textiles, Autos, and Steel, David G. Tarr, February 1989.
Using state-of-the-art modeling techniques, this report examines the costs of trade restraints in three industries. Findings indicate that voluntary export restraints in these industries cost the U.S. $21 billion in 1984 while "protecting" 174,000 jobs in the three industries. Thus, the annual cost of each job protected is approximately $120,000.
3. Economics of Sham Litigation: Theory, Cases, and Policy, Christopher C. Klein, April 1989.
Report examines court records on public and private Sherman Act "countersuits" entailing allegations of sham litigation, between 1972 and 1985. Using an empirical approach, the report seeks to answer the question of "whether case law involving Sherman Act countersuits alleging sham litigation has developed in a way that appropriately discourages the use of adjudicative proceedings to produce anticompetitive outcomes".
4. Mergers in the U.S. Petroleum Industry, 1971-1984: An Updated Comparative Analysis, Jay S. Creswell, Jr., Scott M. Harvey, and Louis Silvia, May 1989.
Reviews recent evidence on oil industry mergers and concludes that conglomerate mergers have become less important and the mergers have had little impact on industry concentration.
5. Health Claims in Advertising and Labeling: A Study of the Cereal Market, Pauline M. Ippolito and Alan D. Mathios, August 1989.
6. An Analysis of the Maritime Industry and 1984 Shipping Act, Timothy P. Daniel, Alan D. Mathios, and James Reitzes, November 1989.
An empirical examination of the effects of the health claims in fiber cereals which began in 1984. Evidence indicates that health claims in advertising significantly alter consumer behavior and reach groups not otherwise reached by government and general health information.
The analysis provides a brief background of the ocean shipping industry and its regulatory history, and describes and evaluates the rationales for regulating that industry. Section VII analyzes the effects of the 1984 Act, with particular attention to: 1) the roles of service contracts and independent action; 2) the structure of shipping rates; and 3) the levels of shipping rates.
7. The Effects of FTC Antitrust Challenges on Rival Firms 1981-1987: An Analysis of the Use of Stock Returns to Determine the Competitive Effects of Horizontal Mergers, Laurence Schumann, December 1989.
The study examines recent FTC merger enforcement and uses stock market evidence to confront prior research which argued that the FTC tended to challenge pro-competitive mergers. The study finds that the evidence is equally consistent with the FTC challenging mergers that simultaneously have both pro-competitive and anti-competitive effects.
1. The Effect of State Certificate-of-Need Laws on Hospital Costs: An Economic Policy Analysis, Daniel Sherman, January 1988.
Study evaluates the effects of CON regulation on hospital costs using 1983-1984 data for a national sample of 3708 hospitals. Study finds no evidence that CON programs have led to the resource savings they were designed to promote, but rather indicates that reliance on CON review may raise hospital patient treatment costs. Study also finds that among independently-operated hospitals, state and local government hospitals and for-profit hospitals have costs between 5.5 and 13 percent lower than those of voluntary hospitals. However, costs of for-profit and government hospitals appear to be higher than those of system voluntary hospitals when these hospitals are either owned, leased, or managed as part of a hospital system.
2. Resale Price Maintenance: Economic Evidence from Litigation, Pauline Ippolito, April 1988.
Report reviews all 203 public and private RPM cases from 1976 to 1982 (pre-Monsanto decision). Finds that case records are consistent with several of the efficiency-enhancing rationales for the use of RPM (e.g., "free rider" and more recent agency theories). Only 15 percent of cases appear consistent with collusion theories of RPM that would be associated with reduced consumer welfare.
3. An Analysis of the Funeral Rule Using Consumer Survey Data on the Purchase of Funeral Goods and Services, Timothy P. Daniel, April 1988.
4. Regulation of Advertising: Capital Market Effects, Alan D. Mathios and Mark Plummer, May 1988.
Report finds that firms who lose litigated FTC advertising cases can suffer a 5 percent loss in market value. The report also examined NAD, NARB, and Lanham Act cases.
5. The Impact of State Price and Entry Regulation on Intra-State Long Distance Telephone Rates, Alan D. Mathios and Robert P. Rogers, November 1988.
Study finds that states using price cap regulation have 7-10 percent lower long-distance rates than states using rate-of-return regulation. In addition, state regulatory entry barriers tend to increase the price of long-distance telephone service.
1. State Regulation of Takeovers and Shareholder Wealth: The Effects of New York State's 1985 Takeover Statutes, Laurence Schumann, April 1987.
Study examines the stock market's reactions to two anti-takeover statutes passed by New York State in 1985. Findings indicate that the law resulted in an average decline in equity value of nearly one percent ($1.2 billion) for a sample of 94 firms governed by the statute.
2. A Critical Evaluation of Petroleum Import Tariffs: Analytical and Historical Perspectives, Keith B. Anderson and Michael R. Metzger, April 1987.
A cost/benefit analysis of a petroleum import tariff. The study finds that such a tariff imposes a net loss on society and is an inefficient means of attaining any national goals.
3. Competition Among Hospitals, Monica Noether, May 1987.
Hospital price and expense data for 1978-79 are examined to identify the effects of competition. The results imply that a reduction in market concentration results in an increase in both price and quality competition. Other results concerning the effect of nonprofit organization, CON laws, hospital management, etc., are also obtained.
4. Restrictions on Dental Auxiliaries, J. Nellie Liang and Jonathan Ogur, May 1987.
Examines empirically the effects of various state restrictions on the number and use of dental hygienists and assistants. Concludes that relaxation of restrictions on the number of hygienists that a dentist may employ would benefit consumers by providing the same quality of service at a lower price. Gains to consumers could reach $1 billion per year.
5. International Competitiveness and the Trade Deficit, John C. Hilke and Philip B. Nelson, May 1987.
Using statistical analysis, the study concludes that industry-specific factors (unfair trade practices, low R&D, union work rules, antitrust laws, etc.) are not the cause of the aggregate U.S. trade deficit. Rather, the trade deficit is the result of economy-wide factors such as exchange rate changes and relative economic growth.
7. The Potential for Tax Gains as a Merger Motive: A Survey of Current Knowledge and Research Opportunities, Denis A. Breen, July 1987.
Evaluates the literature on the "tax-incentive" hypothesis that tax provisions provide important incentives for mergers, particularly mergers which, though they may not be anticompetitive, are inefficient.
1. Investigating Oligopolies within the Laboratory, Daniel Alger, January 1986.
Investigates competitive theories that form the basis of antitrust policy, using experimental methods.
2. The Effect of State Entry Regulation on Retail Automobile Markets, Robert P. Rogers, January 1986.
Estimates the effect on consumer welfare of state laws restricting the establishment of new automobile dealerships in the vicinity of present dealers selling cars of the same make. These laws may raise new automobile prices about six percent.
3. Certificate of Need Regulation of Entry into Home Health Care, Keith B. Anderson and David I. Kass, January 1986.
Examines the justification for requiring Certificate of Need approval for home health care providers. No evidence is found that home health firms located in states with these regulations achieve available economies of scale to a greater degree than firms in unregulated states.
4. Product Quality & Information in the Used Car Market, James M. Lacko, June 1986.
Assesses evidence on product quality problems in the used car market and looks at the effects of various state laws that attempt to improve the market.
5. Empirical Approaches to Consumer Protection Economics (Conference Volume), Pauline M. Ippolito and David T. Scheffman (Editors), June 1986.
Proceedings of a conference on consumer protection regulation. Twelve papers by academic and government economists dealing with various advertising and product quality problems.
6. Concentration, Integration, and Diversification in the U.S. Grocery Retailing Industry, Russell Parker, June 1986.
Statistical report on grocery retailing for Census years 1954-1977. Contains SMSA concentration data and other profit and sales data.
7. Experimental Studies of Markets with Buyers Ignorant of Quality Before Purchase: When Do Lemons Drive Out High Quality Products?, Michael Lynch, September 1986.
Experiments indicated that if sellers could not develop reputations for poor quality, then the market would consist entirely of poor quality products. The need to attract re-purchase is not sufficient incentive to have the seller build a reputation for supplying good quality, while the imposition of a requirement for truthful advertising or labelling is sufficient.
1. A Time-Series Investigation into Factors Influencing U.S. Auto Assembly Employment, Michael C. Munger, February 1985.
An analysis of the recent rise in unemployment in the automobile industry; finds that the 1980-82 recession and high wages paid U.S. auto workers largely responsible for the unemployment rise; U.S. imports of automobiles not a major factor.
The last in a series of five Annual Line of Business Reports to be published by the Commission for the years 1973-1977. The report contains industry aggregates and financial ratios compiled from line of business financial data submitted by approximately 470 large diversified U.S. manufacturing companies.
3. Generic Substitution and Prescription Drug Prices: Economic Effects of State Drug Product Selection Laws, Alison Masson and Robert L. Steiner, September 1985.
An analysis of the effects of state drug product selection laws and the growth of generic drugs; looks at earlier recommendations in the FTC/FDA model statute.
4. The Availability and Utility of Consumer Information on Auto Insurance, Mark Plummer, October 1985.
Congressionally requested study finds that consumer information on auto insurance is widely available and that consumers use this information in making their purchases.
5. Life Insurance Products and Consumer Information, Michael Lynch, October 1985.
Congressionally requested study that assesses life insurance policies and the adequacy of consumer information. Suggests that there may be information problems in some segments of the market.
6. Antitrust Policy for Declining Industries, Mark W. Frankena and Paul A. Pautler, October 1985.
Assesses the value of a revision in antitrust policy that gives a special exemption to declining industries. Concludes that such an exemption would likely allow anticompetitive mergers which produce no offsetting efficiencies, thus weakening U.S. industries in their efforts to compete with foreign-made products.
7. The Role of Collective Pricing in Auto Insurance, Jeffrey A. Eisenach, November 1985.
A Congressionally requested cross-state empirical analysis of the effects of collective ratemaking and state regulation on auto insurance premiums. Finds that collective ratemaking has no effect on premiums in the presence of state regulation. Also finds that state regulation raises premiums in some states and lowers premiums in others.
1. Empirical Approaches to Consumer Protection Economics: Proceedings of a Conference Sponsored by the Bureau of Economics, Pauline M. Ippolito and David T. Scheffman, April 1984.
2. An Economic Analysis of Taxicab Regulation, Mark W. Frankena and Paul A. Pautler, May 1984.
3. Exclusive Dealing and Vertical Integration: The Efficiency of Contracts in the Tuna Industry, Edward C. Gallick, August 1984.
4. Impact Evaluations of Federal Trade Commission Vertical Restraints Cases, Joint Report by Bureau of Competition and Bureau of Economics, Ronald N. Lafferty, Robert H. Lande, and John B. Kirkwood, August 1984.
5. Import Quotas on Textiles: The Welfare Effects of U.S. Restrictions on Hong Kong, Morris Morkre, August 1984
6. The Ban on Intramajor Joint Bids in Federal Petroleum Offshore Lease Sales: An Evaluation, Joseph P. Mulholland, October 1984.
7. Aggregate Costs to the United States of Tariffs and Quotas on Imports: General Tariff Cuts and Removal of Quotas on Automobiles, Steel, Sugar, and Textiles, David G. Tarr and Morris E. Morkre, December 1984.
Assesses the losses to U.S. consumers and producers of tariffs and quotas in four U.S. industries; estimates that the total losses of trade restrictions in these industries are nearly $13 billion annually.
8. Firm Size and Regulatory Compliance Costs: The Case of LIFO Regulations, John C. Hilke, December 1984.
This report presents and analyzes empirical data on the costs of complying with regulations governing the use of LIFO, an inventory accounting system that allows firms to adjust their stated earnings to reflect the effects of inflation. The conclusion is that LIFO regulations have imposed compliance costs that are proportionately much larger for small firms than for large firms.
1. The Determinants of Persistent Profits: An Empirical Study, Dennis C. Mueller, University of Maryland, June 1983.
2. Airport Access Problems: Lessons Learned from Slot Regulation by the FAA: An Economic Policy Analysis, Donald Koran and Jonathan D. Ogur, May 1983.
3. Resale Price Maintenance: Economic Theories and Empirical Evidence, Thomas R. Overstreet, November 1983.
4. Comparative Analysis of Cosmetic Contact Lens Fitting by Ophthalmologists, Optometrists, and Opticians, Gary D. Hailey, Jonathan R. Bromberg, and Joseph P. Mulholland, December 1983.
1. Regulatory Reform and the Trucking Industry: An Evaluation of the Motor Carrier Act of 1980, Denis A. Breen, March 1982.
2. Competition and Collusion in Electrical Equipment Markets: An Economic Assessment, David F. Lean, Jonathan D. Ogur, and Robert P. Rogers, July 1982.
1. The History of Section 6 Report-Writing At the Federal Trade Commission, Office of Policy Planning, April 1981
2. Strategy, Predation and Antitrust Analysis, Joint Report by the Bureau of Economics and the Bureau of Competition, edited by Steven C. Salop, September 1981.
1. Effects of Restrictions on Advertising and Commercial Practice in the Professions: The Case of Optometry, Bureau of Economics Staff Report, Ronald S. Bond, John E. Kwoka, Jr., John J. Phelan, and Ira Taylor Whitten, September 1980.
2. Bureau of Economics Staff Report on the Development and Structure of the U.S. Electric Lamp Industry, Robert P. Rogers, February 1980.
1. An Analysis on Competitive Structure in the Uranium Supply Industry, Bureau of Economics Staff Report, Joseph P. Mulholland, John Hering, and Steven Martin, August 1979.
2. Life Insurance Cost Disclosure, Joint Report by the Bureau of Consumer Protection and the Bureau of Economics, July 1979.
3. The Economic Structure and Behavior in the Natural Gas Production Industry, Bureau of Economics Staff Report, Joseph P. Mulholland, February 1979.
1. The Brewing Industry, Bureau of Economics Staff Report, Charles F. Keithahn, December 1978.
2. Competition in the Health Care Sector: Past, Present, and Future, Proceedings of a Conference Sponsored by the Bureau of Economics, March 1978
1. The U.S. Steel Industry and Its International Rivals: Trends and Factors Determining International Competitiveness, Richard M. Duke, Richard L. Johnson, Hans Mueller, P. David Qualls, Calvin T. Roush, Jr., and David G. Tarr, November 1977
2. Sales, Promotion, and Product Differentiation in Two Prescription Drug Markets, Ronald S. Bond and David F. Lean, February 1977