Working Papers

An analytical model is employed to investigate competitive markets characterized by asymmetric consumer information as to product quality. Support is found for Leland's conclusion [1979] that a

Regulators often confront the question of whether they should allow a regulated firm to vertically integrate. The relevant policy concerns are whether the downstream price will rise from the vertical

This paper provides a formal treatment of how vertical integration may deter entry "by reducing rivals' revenues". We examine a spatial market with the locations of firms fixed due to location

The Staggers Act of 1980 largely ended almost a century of government regulation of railroads. This paper presents evidence that deregulation has had a positive impact on the economy. Specifically

Past studies of takeover regulations have found that they increase the premiums paid to the shareholders of successfully acquired targets. Jarrell and Bradley argue that these higher premiums harm

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Certain government regulations require a good deal of investment by firms before the regulations actually go into effect. In these cases, if a firm does not engage in the desired level of investment

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Under Section 201 of the Trade Act of 1974, the so-called escape clause, a domestic industry that is seriously injured can obtain temporary relief if imports are the substantial cause of such injury.

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This paper develops an analysis of markets in which sellers have significant sunk investments; it takes considerable time to enter; and buyers can make credible commitments to obtain alternative

Based on the concept of weakly separable utility (which applied empirical work implicitly or explicitly assumes), this paper develops a theoretical condition that a set of own and cross-elasticity of

This note compares the efficiency of a joint venture with supply, output royalty and lump sum arrangements in the context of firms contributing complementary inputs to some project. In a world of

Price conjectural variations are estimated to measure the degree of price competition in a product differentiated oligopoly. The empirical model is a simultaneous equation system of product demand and

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This paper compares two econometric methods that have been proposed for market definition: price correlations and residual demand curve estimation. Econometric theory is used to demonstrate that price