Commission Actions

This paper models procurement auctions when suppliers face increasing costs. It is shown than an asymmetric equilibrium exists whereby one bidder bids different prices on each project in a series of...

The Sherman Antitrust Act is over a century old, yet debate continues about its original goal. Previous authors, focusing on the substance of the 1890 debate, have reached various conclusions about...

This paper develops more general conditions for identifying when a cost increase may be profitable for incumbent firms. Given those conditions, it then shows that advertising restrictions can act as...

Anecdotal evidence reveals that an import quota is not always filled when the quota is specified in terms of a market-share limit instead of a quantity limit. In a simple Cournot duopoly, we provide a...