Issue 3

March 1986

Strategic Capital Investment in the American Aluminum Industry

A dynamic game model of production and capital investment choice is formulated and used to explain the behavior of leading firms in the post-war American aluminum industry.

The Nature of Competition and the Scope of Firms

This paper examines how the scope of firms in an industry is affected by the nature of the competition in that industry.

Some International Comparisons of the Age of the Machine-Stock

This paper re-examines recent postal surveys of the stock of machinery in the metal-working industries of Britain, Germany, France, Japan and the United States.

Assessing USA Postal Ratemaking: An Application of Ramsey Prices

In early rate cases the inverse elasticity rule was used explicitly in setting postal rates, but more recently the USA Postal Service has eschewed its use.

Exogeneity Tests of Market Boundaries Applied to Petroleum Products

US antitrust law makes market definition and the calculation of market-share statistics an integral part of the determination of the anticompetitive impact of a merger.

Safety and Profits in the Airline Industry

It has been argued that there is a positive relationship between profitability and safety in the transportation industries.

An Empirical Analysis of Process and Product Patenting: A Simultaneous Equation Framework

The results of this study support the hypothesis that research activity is not a homogeneous activity, and that important differences exist between the determinants of process patenting and product pa

A Simple Model of Imperfect Competition in which Four are Few but Three are Not

This paper presents a model of imperfect competition in which the likelihood of collusion is not a monotonically decreasing function of the number of firms.