Working Papers

One of the puzzles about the recent steel VRAs is whether they limited imports toward the end of the 1980s. The 36 percent depreciation of the dollar between 1984 and 1989 is believed to have rendered

This paper presents an analysis of the merger decisions between 1982-1992. The survey of cases suggests that the plaintiffs win roughly half the time. Plaintiffs were no more likely to win if a case

This analysis derives the optimal incentive contracts owners offer managers who engage in Stackelberg-quantity competition. In contrast to the Coumot case, the owner of the leading firm motivates his

This paper combines state-level data on trucking rates with information on state-level regulations to estimate the independent effect on rates from three different types of motor carrier regulations

Recent literature has shown that when retailers cannot observe contracts between a manufacturer and their rivals, the manufacturer will be unable to obtain the vertically integrated profit using two

Analyses of general acute care hospital mergers have traditionally defined the relevant product market as inpatient medical and surgical acute care and have generally assumed that economies of scale

Industrial organization issues that are relevant to antitrust have been studied in the laboratory for over three decades, and the results of this research offer useful insights for applied work in

Previous work on consumer search has shown that consumers facing positive search costs do not sample more than one firm; that is, no search occurs in equilibrium. This result, as well as the price

This paper models the reaction of firms to Federal Trade Commission (FTC) decisions to seek to block proposed horizontal mergers. Finns' responses to the FTC are shown to depend on a number of factors

The creation of a charge for long distance companies to access the local telephone companies' switched network created the incentive to bypass the local switched network in order to avoid access

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 survivor technique is used to examine economies of scale in the steel industry, and the results are compared to an earlier engineering approach study by Tarr. Specifically the paper focuses on the

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

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

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

We examine antidumping policy in a model where a foreign firm is a monopolist in the foreign market, but competes with a native firm in the home market. An antidumping policy changes strategic

This paper finds that firms that have substantially increased leverage are more likely to issue convertible debt than firms that have increased leverage only slightly. Also, firms that have

Several recent antitrust cases indicate that courts believe the threat of entry can serve as an effective deterrent to an anticompetitive price increase. Yet there does not exist in the economic

This paper examines the incentives for two-product price-regulated firms to cross-subsidize when there are no economies or diseconomies of scope. If the two products are Substitutes and each product

This paper examines the degree of employment and hours per worker adjustment among comparable British, Canadian, and U.S. manufacturing industries. The standard adjustment cost model of dynamic labour