Issue 4

December 1995

Product and Process Innovation as a Response to Increasing Imports and Foreign Direct Investment

The paper analyses the hypotheses that imports and inward foreign direct investment (FDI) have positive effects on the innovative activity of domestic firms because competition on the domestic market

Japan's Corporate Groups: Collusive or Competitive? An Empirical Investigation of Keiretsu Behavior

This paper uses data on manufacturing firms listed on the Tokyo Stock Exchange to evaluate whether firms that are part of Japanese financial groups (keiretsu) behave differently from other Japanese fi

Regulation of a Multi-Product Monopolist: Effects on Pricing and Bundling

This paper studies the effects on a multi-product monopolist's pricing and bundling decisions of a form of regulation in which a price-cap is imposed on only the basic level of service.

Tighter Average Revenue Regulation can Reduce Consumer Welfare

A monopolist producing for two markets is subject to an average revenue constraint (ARC), a form of regulation which is relevant to some UK utilities.

Simulation of Concentration Development from Modified Gibrat Growth-Entry- Exit Processes

Gibrat's law is augmented to produce a more general stochastic model of concentration consisting of growth, entry and exit processes.

Time-Based Competition and the Privatization of Services

We develop a vertical differentiation model which exhibits congestion externalities and in which firms choose service time.