Tag: Bureau of Economics

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This paper analyzes factors that affect the exit and expansion of U.S. petroleum refineries using plant-level capacity data from 1947 to 2013. We find that larger refineries are less likely to close and that refineries owned by a multi-plant firm are more likely to close. If a multi-...
This paper studies Tesoro’s 2013 acquisition of British Petroleum’s Los Angeles refinery. We present a merger simulation model tailored to the gasoline market, which includes Cournot firms and a price-taking fringe. This hybrid model generates margins that are more plausible than...
This paper analyzes the accuracy of various prospective hospital merger screening methods used by antitrust agencies and the courts. The qualitative and quantitative predictions of the screening methods calculated with pre-merger data are compared with the actual post-merger price...
We employ experimental economics techniques to gain insight into the factors that affect consumer susceptibility to fraudulent advertising. We asked participants to rate the credibility of a series of mock-ups of plausible and implausible print advertisements that we designed. We...
This paper considers a previously unexamined increase in excise taxes on gasoline and diesel fuel that were part of Washington State’s Nickel Funding Package of 2003.  We fail to reject full pass-through of the amount of the tax increase to retail prices in both products.  We find no...
We compare the private and social incentives for privacy when sellers can commit to transparent privacy policies that are understood by consumers.  The purpose is to establish a baseline for how well markets perform when firms' privacy policies are common knowledge. In this setting,...

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