This article presents an econometric analysis of the effects of price floors on price dynamics and price volatility in a multimarket context. We investigate the implications of a government price-support program providing a censoring mechanism to the price determination process. The analysis...

This article uses a multi output production function to analyse economies of scope between patents and R&D in US research universities. It evaluates the tradeoffs and/or synergies that arise between traditional university research outputs (articles and doctorates) and academic patents. It also...

Scope economies (reflecting the benefit of a multioutput firm) have been defined by Baumol, Panzar, and Willig in the context of cost functions. This paperuses Luenberger's shortage function to develop a general measure of scope economies directly from the underlying technology. The analysis...

This study investigates the implications of hedonic pricing for price dynamics of differentiated commodities. A conceptual model of hedonic pricing is developed under a Leontief technology, showing how commodity prices reflect the underlying value of their components. Implications for the...