Issue 1

March 1994

Market-Specific Effects of Rail Deregulation

Since partial deregulation of the railroad industry in 1980, real rail rates have fallen. Yet, previous studies are inconclusive in identifying deregulation as the reason for lower rates.

Capacity and Competition: Empirical Evidence on UK Panel Data

Following Kreps and Scheinkman [1983] it is common to view the difference between Cournot and Bertrand competition as depending on production capacity.

What does an Oligopoly Maximize?

A monopolist maximizes a well defined objective function, monetary profit.

Risk-Sharing in International Trade: An Analysis of Countertrade

Countertrade agreements in international trade refer to a trade practice in which an exporter agrees to purchase back commodities proportional to his original export sale in the future.

Cournot Equilibrium with Imperfectly Appropriable R&D

We investigate the effects of knowledge spillovers, numbers of incumbents, and demand characteristics on market equilibria involving either noncooperative firms or a research joint venture.

Concentration and Mobility Statistics in Canada's Manufacturing Sector

Mobility statistics are direct measures of the intensity of competition; market-structure indicators, indirect measures.

Optimal Nonuniform Pricing with Generalized Consumer Choice

A frequent assumption in nonuniform pricing models is that local maximizing conditions are met exactly once for each purchasing consumer; no consumer can be indifferent between two nonadjacent usage l