Issue 4

December 1996

Principals, Agents, and the Learning Curve: The Case of Steam-Electric Power Plant Design and Construction

A number of factors, including design variation and the combination of uncertain costs and cost-plus contracting, diminished opportunities and incentives to improve power plant design and construction

Price Premia to Name Brands: An Empirical Analysis

This paper examines the factors affecting prices in the North America banana market. There are substantial price differences between brand-name and "generic" companies, and among branded companies.

Are Sutton's Predictions Robust?: Empirical Insights into Advertising, R & D, and Concentration

Sutton's widely acclaimed book on sunk costs and market structure contains several robust predictions.

A Robust Test for Consumer Welfare Enhancing Mergers Among Sellers of Differentiated Products

Recently developed tools are used to predict the effects of differentiated products mergers, but they require the assumption of a particular functional form for industry demand, and any assumption is

Search Intensity in Oligopoly

A simultaneous price-setting oligopoly game characterized by the existence of buyers with differing price information is presented.

Capital Precommitment and Competition in Supply Schedules

Although the Cournot and Bertrand equilibrium concepts have dominated economic analysis of oligopoly problems, neither has a compelling theoretical rationale.

Fixed-Fee Licensing of Innovations and Collusion

Unlike other types of licensing agreements such as those with output restrictions, market division clauses, or output royalties, licensing contracts with only a fixed-fee have been perceived as having